Morning business round-up: Lufthansa staff to strike


What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Cabin staff at German airline Lufthansa are to go on strike, possibly as early as Thursday, after wage talks broke down this week.

The union and the airline have been at loggerheads over the past year over the amount of hours worked at its hubs and low-cost airlines.

Loss-making Lufthansa has said it will cut 3,500 jobs.

Apple's legal motion to have some Samsung mobile phones banned in the US will now be heard in a court in December.

A jury on Friday ordered Samsung to pay Apple more than $1bn (£664m) after ruling it had infringed several of the iPhone maker's patents.

The judge had originally suggested that Apple's request would be heard next month, but now says that a hearing will take place on 6 December.

Shares in Samsung rose 3% on Tuesday on news of the delay of the hearing. The South Korean firm had $12bn wiped off its market value on Monday as its shares suffered their biggest drop since October 2008.

Hong Kong's market regulator is taking Ernst and Young to court to force it to reveal information on a former China-based client, in an unprecedented move.

Ernst and Young has said if it complies, it could be in violation of China's state secrecy laws.

The Securities and Futures Commission (SFC) wants records related to Standard Water, a Chinese utility company and an Ernst and Young client in 2009.

The case follows similar ones in the US involving Chinese companies. China's state law says that Chinese company records can be claimed as state secrets.

Chilean copper miner Antofagasta has said half-year profits dropped amid falling metal prices, as well as higher production and exploration costs.

Pre-tax profits were down 7.6% to $1.6bn (£1.04bn), despite a 3.5% rise in revenues from higher copper production volumes, it said.

The weaker results follow a trend among commodity producers and traders as a global economic slowdown crimps demand.

Shares in Japanese chipmaker Renesas have surged on reports that US-based private equity fund KKR & Co plans to invest 100bn yen ($1.3bn; £804m) in the firm.

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The move would give KKR a stake of more than 50% in Renesas, according to the Reuters news agency, which cited sources familiar with the matter.

Renesas shares jumped as much as 35% to 308 yen in Tokyo.

The firm has been struggling amid increased competition from rivals, falling chip prices and weaker global demand.

A report by the All Party Parliamentary Group on Aviation said efforts should be made "to ensure the UK retains and grows hub capacity" at Heathrow or a new purpose-built hub airport.

It comes as the UK government rejected calls for a third runway at Heathrow.

Chancellor George Osborne said the government understood there was a need for additional airport capacity.

On Tuesday, Transport Secretary Justine Greening said the government remained opposed to a third runway at Heathrow, despite calls from Conservative MPs for a change of heart.

The latest Business Daily programme from the BBC looks at how many people in the developing world taught themselves computer coding using online education tools.

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