VW recalls 384,000 cars in China
China's quality watchdog the General Administration of Quality Supervision, Inspection and Quarantine of China has said in a statement on its website that carmaker Volkswagen AG will recall 384,181 vehicles in the country to fix a long-standing gearbox problem.
The end of ‘marmaggedon’ – Kiwis welcome back Marmite
Sanitarium, the company which produces the savoury spread, suffered significant damage to its only marmite factory during the Christchurch earthquake in 2011. Stocks diminished and the media dubbed the shortage ‘marmageddon’.
Euro ministers urge Cyprus rethink
Eurozone finance ministers have asked Cyprus to rethink plans for a one-off tax of 6.75 percent on savings of up to 100,000 euros
Fukushima plant hit by power failure
Japan’s tsunami-hit Fukushima nuclear plant has been hit by a power failure, affecting its cooling systems for spent fuel ponds.
India cuts interest rate
India’s reserve bank has lowered its benchmark repo rate, the rate at which it lends to commercial banks, by 25 basis points in a bid to jumpstart the country’s economy.
Airbus wins record order from Indonesia’s Air Lion
European plane maker Airbus has announced it has received a record order from Indonesia's Lion Air for 234 medium-haul A320 jets.
Tokyo stocks dive on Cyprus bailout
Tokyo stocks fell 2.71 percent at the close Monday after the yen soared on news that Cyprus plans to tax bank depositors as part of a controversial bailout deal.
Lego to build factory in China
Danish toy maker Lego has announced plans to build its own factory in China to serve the rapidly growing Asian market.
Kuroda named BOJ governor
Haruhiko Kuroda is the new governor of the Bank of Japan (BoJ), after Japan’s parliament approved his appointment.
Li Keqiang named China’s new premier
Li Keqiang , who already holds the number two spot in the Communist Party, is now in charge of running the world’s second-largest economy and it is one of the final steps of a landmark power transition.
