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HONG KONG, China (AFP) — Asian markets rallied Tuesday after Chinese President Xi Jinping eased worries over a simmering US trade conflict by promising new measures to open his country’s massive economy “wider and wider”. In a closely watched speech at the Boao Forum — dubbed the Asian Davos — he pledged a “new phase of opening up”, adding that Beijing “does not seek a trade surplus” and wants to boost imports. After starting the […]
WASHINGTON, United States (AFP) – Facebook chief Mark Zuckerberg placed the blame for privacy and security lapses at the world’s largest social network squarely on himself as he girded Monday for appearances this week on Capitol Hill before angry lawmakers. In prepared remarks released by a congressional panel, Zuckerberg admitted he was too idealistic and failed to grasp how the platform — used by two billion people — could be abused and manipulated. The 33-year-old […]
MOSCOW, Russia (AFP) — Russian aluminum giant Rusal saw its share price nearly halved on the Hong Kong stock exchange Monday after Washington placed it under sanctions, putting the metals major at risk of defaulting on part of its debt. At 0710 GMT, the company’s stocks had tumbled 49 percent to HK$2.38 ($0.30, 0.25 euros). The fall represented a loss of more than 3.5 billion euros ($4.3 billion) for the company, which is headed by […]
HONG KONG, China (AFP) — Asian markets fluctuated on Monday as easing concerns about a sharp rise in US interest rates were tempered by growing fears about a potentially catastrophic China-US trade war. US markets plunged on Friday after Donald Trump warned of tariffs on an additional $100 billion worth of Chinese imports, which Beijing responded to by saying it would stand firm. The president’s announcement comes weeks after his decision to tax imports of […]
SEOUL, South Korea (AFP) — Samsung Electronics flagged Friday a first-quarter operating profit of 15.6 trillion won ($14.7 billion), a record for any three-month period, as it benefited from soaring demand for its memory chips for mobile devices. Sales for January to March are expected to reach 60 trillion won, the world’s largest maker of smartphones and memory chips said in an earnings forecast. The profit forecast from Samsung Electronics — the flagship subsidiary of […]
HONG KONG, China (AFP) — Asian stocks were mainly higher during the opening skirmishes Thursday, taking their cue from a stronger session on Wall Street as investors judged recent trade war fears were overblown. Tokyo led the gainers, climbing a solid 1.5 percent as the more positive market sentiment reduced demand for the safe-haven yen, pushing the currency down. The dollar fetched 106.83 yen in early Asian trade, up slightly from 106.82 yen in New […]
by Rob Lever Agence France-Presse WASHINGTON, United States – Facebook said Wednesday personal data on as many as 87 million users was improperly shared with British political consultancy Cambridge Analytica. The new figure eclipses a previous estimate of 50 million in a further embarrassment to the social network roiled by a privacy scandal. The announcement came as Facebook unveiled clearer terms of service to enable users to better understand data sharing, and as a congressional […]
SHANGHAI, China (AFP) — Anbang Insurance Group said Wednesday that China’s government will inject 60.8 billion yuan ($9.7 billion) into the troubled conglomerate, whose rapid acquisition binge triggered a takeover by regulators worried about the firm’s solvency. China’s insurance regulator announced an unprecedented commandeering of Anbang in February, and a Shanghai court last week accused former chairman Wu Xiaohui of defrauding the company of more than $10 billion. No verdict has been announced yet. The government’s swoop […]
by Daniel Silva Agence France-Presse LISBON, Portugal (AFP) — When French technology consultancy Altran needed to hire staff for a new center in Porto, it held a recruitment fair on board a boat docked in the northern Portuguese city’s colorful riverside area. Dozens of recent graduates mingled with Altran staff as they enjoyed sweeping views of Porto’s iconic double-deck metal arch bridge. At the end of the day Altran managed to fill just over 20 […]
by Shaun Tandon / Ali Bekhtaoui Agence France Presse NEW YORK, United States (AFP) — Spotify soared Tuesday to a value of more than $26 billion in its long-awaited stock debut as the market delivered a ringing endorsement of the future of music streaming. In one of the largest public offerings ever in the tech sector, Spotify on its first day topped the market capitalization of other high-profile recent market entrants, including Twitter, […]
SAN FRANCISCO, United States (AFP) — Intel shares dove on Monday after Bloomberg reported that Apple intends to switch to chips of its own for Mac computers in two years. Intel shares were down more than 7.5 percent to $48.12 in late afternoon trading on the Nasdaq exchange in New York. Apple declined to comment on the report, which cited unnamed sources as saying Apple is designing its own chips for Mac computers and could […]
HONG KONG, China (AFP) — Asian stocks dropped sharply at the open Tuesday, following Wall Street lower as fears of a trade war between the United States and China battered market sentiment. Tokyo led the declines, with the benchmark Nikkei 225 index shedding 1.51 percent in early trade. China followed suit, with the main Shanghai Composite Index falling 1.05 percent. Seoul was down more than half a percentage point and Hong Kong was off one […]
