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Toshiba to go private as board accepts $15 bn takeover bid: reports
Toshiba to go private as board accepts $15 bn takeover bid: reports
Business and Economy
by  AFP

Troubled Japanese conglomerate Toshiba on Thursday accepted a $15 billion takeover bid by a consortium led by investment fund Japan Industrial Partners, major local media outlets reported. The Nikkei and other media including public broadcaster NHK said a buyout by a consortium of around 20 Japanese companies had been approved at a Toshiba board meeting.

Even free transport can't shake Luxembourg's love of the car
Even free transport can't shake Luxembourg's love of the car
Business and Economy
by  AFP

Three years after Luxembourg declared all public transport free in a bid to clear its roads of jams and cut pollution, the car is still king of the congested Grand Duchy. So the wealthy country of just 650,000 people appeared the perfect place for a bold experiment -- making public transport on trains, trams and buses free nationwide.

After Fed, European central banks hike their rates
After Fed, European central banks hike their rates
Business and Economy
by  AFP

Switzerland and Norway hiked interest rates Thursday to tackle inflation despite banking-sector turmoil, with the UK's central bank next in line after the US Federal Reserve also lifted borrowing costs. A catalyst for SVB's demise was the Fed's shift from near-zero interest rates to higher borrowing costs aimed at taming decades-high inflation.

China holds 'upper hand' in Russian gas exports
China holds 'upper hand' in Russian gas exports
Business and Economy
by  AFP

A massive new gas pipeline to China could help reduce Russia's reliance on European buyers, but analysts say the project reveals a growing imbalance between the longtime strategic allies. Analysts say the lagging response shows an imbalance favouring Beijing in energy deals between the two countries -- as well as China's wariness of over-reliance on Russia for fuel.