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Highlights: October 27, 2014 - November 1, 2014

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Highlights of the week

The summary of the last week's key headlines and the most interesting stories.

N. Korea's labor productivity 30 years behind S. Korea
Monday October 27, 2014 5:40AM
North KoreaNorth Korea lags more than 30 years behind South Korea in terms of labor productivity due mainly to the reclusive country's decades of stunted economic growth, a private think tank said....

Billions for the Horn of Africa
Monday October 27, 2014 6:11AM
Horn of AfricaLeaders of global and regional institutions begin an historic trip to the Horn of Africa to pledge political support and major new financial assistance for countries in the region, totaling more than $8 billion over the coming years....

Cutrale-Safra and Chiquita to merge
Monday October 27, 2014 1:21PM
ChiquitaChiquita Brands International Inc. and the Cutrale-Safra group today announced a definitive merger agreement. The transaction is valued at approximately $1.3 billion, including the assumption of Chiquita’s net debt....

Twitter Q3 revenue up 114%
Monday October 27, 2014 4:55PM
TwitterTwitter, Inc. announced financial results for the quarter ended September 30, 2014. Q3 revenue was $361 million, up 114% year-over-year....

China to invest 105 billion pounds in UK
Tuesday October 28, 2014 2:49AM
China UKChina is planning massive investment in the UK infrastructure by 2025, as Beijing seeks a safe haven for outbound investment....

Saipem wins deals worth $2 billion
Tuesday October 28, 2014 4:25AM
SaipemItalian oil services firm Saipem got approximately $2 billion worth of engineering, construction and drilling contracts in the Middle East and Latin America....

Real estate sales to foreign buyers up 81% in Turkey
Tuesday October 28, 2014 10:10AM
Turkey real estateThe number of real estate sales to foreign buyers increased 81 percent in September from the same period of the previous year, the Turkish Statistics Institute (TUIK) revealed....

Russia to finance Rasht-Astra railway in Iran
Tuesday October 28, 2014 1:10PM
Rasht-Astra railwayIran plans to construct Rasht-Astara railway in joint venture with a Russian financier, a senior railway official announced....

Facebook revenue up 59%, more depending on mobile ads
Tuesday October 28, 2014 5:23PM
FacebookFacebook reported financial results for the quarter ended September 30, 2014. Revenue totaled $3.20 billion, an increase of 59%, compared with $2.02 billion in Q3 2013....

South Korea posts current account surplus for 31 months
Wednesday October 29, 2014 4:20AM
South Korea factorySouth Korea posted a current account surplus for 31 months in a row due to robust export growth, central bank data showed....

Kuwait plays down row with Saudi over shared oilfield
Wednesday October 29, 2014 6:18AM
Kuwait Saudi ArabiaKuwait has played down a row with Saudi Arabia over its decision to halt production at an offshore oilfield jointly operated by the two Gulf neighbours....

LG Electronics Q3 operating profit more than double
Wednesday October 29, 2014 6:58AM
LG ElectronicsSouth Korean tech giant LG Electronics said its third-quarter operating profit more than doubled from a year earlier due to record smartphone sales....

North Korea attempts to hack into South Koreans' smartphones
Wednesday October 29, 2014 10:09AM
South Korea smartphoneNorth Korea attempted to hack into South Koreans' smartphones by spreading malicious applications online, possibly infecting more than 20,000 smartphones, Seoul's spy agency said, according to Yonhap News Agency....

Nordstrom to give 15,000 pairs of shoes to children
Wednesday October 29, 2014 11:15AM
Nordstrom kidsNordstrom is continuing its tradition of giving back during the holiday season, this year in the form of 15,000 pairs of shoes....

Samsung earnings down by 60%
Thursday October 30, 2014 3:11AM
Samsung ElectronicsSamsung Electronics reported its third quarter earnings, showing a steep decline in profits of almost 60 percent compared to a year ago....

Nestle Japan hiring 1,000 robots to sell espresso machines
Thursday October 30, 2014 5:15AM
Nestle Japan robotsNestle said that its Japan unit plans to hire 1,000 robots as sales clerks at stores across the country....

Solar plane to make first global flight next year
Thursday October 30, 2014 7:08AM
Solar Impulse 2A solar plane Solar Impulse 2 (Si2) is set to make a non-stop trip around the world next year. The flight will be the first of its kind for a solar aircraft and will lift off from Abu Dhabi next march....

Fiat Chrysler will spin off Ferrari
Thursday October 30, 2014 9:24AM
FerrariFiat Chrysler Automobiles said it planned to spin off Ferrari, the Italian luxury sports car maker, listing its shares in New York and possibly in Europe....

Lenovo closes deal to buy Motorola from Google
Thursday October 30, 2014 10:00AM
Lenovo Google MotorolaLenovo and Google announced that Lenovo's acquisition of Motorola Mobility from Google is complete. Lenovo will operate Motorola as a wholly-owned subsidiary....

Unprecedented levels of tax information will be shared
Thursday October 30, 2014 1:11PM
George OsborneSome 51 countries, including the UK, have signed a new agreement at the Global Forum in Berlin to automatically exchange tax information....

Happy winter: Russia, Ukraine, EU reach gas supply deal
Friday October 31, 2014 5:30AM
Russia gasTrilateral talks on the Russia-Ukraine gas row have reached an agreement worth $4.6 billion for the coming winter, the European Union (EU) announced....

Dutch trade mission secures agreements worth $631 million in China
Friday October 31, 2014 9:40AM
Lilianne PloumenA Dutch trade mission to China secured a total of 12 agreements worth half a billion euros ($631 million) with Chinese counterparts, the Dutch Ministry of Foreign Affairs stated....

Total says Europe must fight U.S. oil export ban
Friday October 31, 2014 3:48PM
Patrick PouyanneThe new head of Total, Patrick Pouyanne, challenged Europe to fight Washington over the U.S. oil export ban in his first public appearance....

Boeing, Monarch finalize order for 30 737 MAX 8s worth $3.2bn
Friday October 31, 2014 4:20PM
Monarch AirlinesBoeing and Monarch Airlines finalized an order for 30 737 MAX 8s worth more than $3.2 billion at current list prices....

Tech companies raise record $24.8 billion
Saturday November 1, 2014 5:40AM
Tech companiesA record $24.8 billion was raised by technology companies in the third quarter of 2014, with 18 technology companies from six different countries completing their initial public offerings (IPOs) during this time frame, a 50 percent increase in volume over last year....

Millions in UK to benefit from cold weather cash
Saturday November 1, 2014 5:03PM
UK heatingAn estimated 4 million people are in line for extra government help this year to turn up the heating during the coldest snaps, as the Cold Weather Payments season began on November 1....

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