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Germany’s economy spirals
BERLIN: Germany’s business morale hits its highest level in nearly six years in March, suggesting company executives in Europe’s largest economy are brushing off concerns about the threat of rising protectionism and Germany’s own election issues. The surprisingly strong business climate index, published by the Ifo economic institute, added to signs that the German economy is firing on all cylinders at the start of 2017, helped
 
 
Lufthansa ties up with Cathay Pacific
FRANKFURT: Lufthansa and Cathay Pacific will sell tickets on some of each other’s routes, boosting the German group’s Asia-Pacific network and deepening a partnership in which the airlines already cooperate on freight flights. The tie-up announced by the companies on Monday highlights the increasingly competitive nature of the sector, with Lufthansa battling other carriers on routes to Asia and Cathay counting the cost of the
   
China expands insurers’ funding role in manufacturing sector upgrades
BEIJING: China said on Tuesday it would expand the scope for insurance companies to provide more low-cost and long-term funds for the manufacturing sector as part of a broader effort to ramp up financial support for struggling manufacturers to upgrade. China will support insurers investing in manufacturing firms’ preferred stocks, bonds for mergers, and private equity funds that help to upgrade manufacturing, the central bank
 
 
Credit Suisse CEO’s decision on ‘capital raising’ soon
HONG KONG: Credit Suisse Group will make a decision on its capital raising plans “as soon as possible,” its chief executive said on Tuesday, without giving specific details on the timing or the type of fund-raising. The bank is considering a quick-fire share sale at group level and its board of directors is set to decide in April how to proceed, Reuters has reported, citing sources. The lender upped its net loss for last year
   
Chevron starts production at Gorgon LNG’s third unit
SINGAPORE: Chevron has started production of liquefied natural gas (LNG) from the third of three production units at the Gorgon LNG project located off Western Australia, the company said on Tuesday. Chevron is the operator of the $54 billion project that has a total of three production trains with a combined production capacity of 15.6 million tonnes per year. First production of the supercooled fuel from Gorgon began in March
 
 
American Airlines to buy stake in China Southern
SHANGHAI: China Southern Airlines said on Tuesday it will sell a small stake to American Airlines Group in a $200 million deal that will give the carriers better access to the world’s two largest travel markets. China Southern will issue new shares worth HK$1.55 billion ($199.6 million) to American Airlines, making American the second US carrier to own part of a Chinese airline after Delta Air Lines bought 3.55 per cent of
   
Labour Department proposes delay in retirement adviser rule
WASHINGTON: The Labour Department has proposed a 60-day delay in implementing a new rule for retirement advisers, set to take effect next month, to complete a review ordered by President Donald Trump that likely will kill the controversial Obama-era measure. Extra time is needed to collect and analyze data about the effects of the so-called fiduciary rule, which requires investment brokers who handle retirement funds to put the
 
 
East Coast supermarket chain looks for talent in other businesses
PHILADELPHIA: When Jeffrey Brown looks to promote employees within his 13-store supermarket chain, he looks for people with hustle, ability, commitment, all that. There’s another unlikely attribute that has turned out to be a predictor of success at Brown’s ShopRite and Fresh Grocer stores. “What we realised is that a lot of the people we hired were in the drug trade,” said Brown, founder and chief executive of Brown’s Super
   
Wells Fargo launches card-free ATM access
SAN FRANCISCO: Wells Fargo on Monday began to offer card-free ATM access through a coast-to-coast rollout of changes in how people can access the ubiquitous machines. Instead of a physical card, customers will be able to use their mobile Wells Fargo app to choose card-free ATM access and then obtain a one-time token for that session to conduct transactions at the machine. “We believe the future is cardless, and the launch of
 
 
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