Malaysia defends search for missing jet
KUALA LUMPUR, Malaysia (AP) — Malaysia defended its handling of the hunt for the missing Boeing 777 on Wednesday but acknowledged it is still unsure which direction the plane was headed when it disappeared, highlighting the massive task facing an international search now in its fifth day.
Tesco emphasises ethics as plans to buy clothes from Ethiopia
Tesco, the world's third-largest retailer, expects to source more clothes from Ethiopia, but wants the nascent industry there to uphold high ethical standards as global chains seek to prevent factory disasters like those seen in Bangladesh. "Ethiopia is a very exciting potential country to grow a supply chain but needs to grow up to be a well regulated, ethical new industry," Giles Bolton, ethical trading director at Tesco, told the Retail Week Live conference on Wednesday. Hennes & Mauritz, the world's second-biggest fashion retailer, said in January it saw good opportunities for producing clothing in sub-Saharan Africa, as it seeks to diversify from relying on Asian sourcing. The Swedish company is one of the biggest buyers of garments from Bangladesh, where the collapse of the Rana Plaza factory last April killed more than 1,100 people, drawing global attention to the poor conditions in many Asian factories.
Putin discusses Ukraine with OSCE
Russian President Vladimir Putin on Wednesday discussed the crisis in Ukraine with Swiss Foreign Minister Didier Burkhalter whose country chairs the Organisation for Security and Cooperation in Europe (OSCE), the Kremlin said. Putin and Burkhalter "discussed the capabilities of the OSCE in the context of fostering a resolution of the crisis," the Kremlin statement said. Talk of a mediation role for the OSCE has come to little.
New York building explodes, collapses
A residential building in New York's East Harlem neighborhood exploded and collapsed on Wednesday, sparking a serious fire and engulfing the area in thick smoke, officials said. All train services in and out of Grand Central terminal were suspended as a result of the incident next to its tracks. "It was an explosion and a building collapsed," a spokesman for New York Police Department told AFP, giving no further details. It is a residential building.
Candy Crush maker to be valued at up to $7.6 bn in New York float
King Digital Entertainment, the British developer behind the wildly-addictive mobile game Candy Crush, said on Wednesday that it could be valued at up to $7.6 billion in its eagerly-awaited upcoming flotation. The planned listing on the New York Stock Exchange, unveiled last month, is the latest in a series by Internet and gaming firms over the past three years -- the most high-profile being Facebook and Twitter. King said on Wednesday that it was planning an initial public offering of 22.2 million shares each priced at between $21 and $24 a share. Candy Crush -- King's top-seller -- started life as a Facebook game in 2012 but can also be played online and on smartphones.