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NEW YORK, United States (AFP) – PepsiCo said Monday it plans to buy SodaStream, an Israeli maker of carbonation products, for $3.2 billion as the beverage and snacks giant makes further inroads with in-home goods. The cash deal will see PepsiCo pay $144 per share for SodaStream’s outstanding stock, a 32 percent premium over its average price of the past 30 days. SodaStream offers consumers “the ability to make great-tasting beverages while reducing the amount […]
TOKYO, Japan (AFP)–Tokyo stocks closed lower on Monday as investors retreated to the sidelines to wait for the outcome of US-China trade talks later this week. The benchmark Nikkei 225 index fell 0.32 percent, or 71.38 points, to 22,199.00 while the broader Topix index was down 0.32 percent, or 5.38 points, at 1,692.15. “The market is caught between hopes and worries,” said Mutsumi Kagawa, chief global strategist at Rakuten Securities. “The hopes are about possible […]
HELSINKI, Finland (AFP) — Finnish game maker Rovio Entertainment on Friday said sales of the sequel to its flagship Angry Birds game hit a new record as the group’s profit and revenue in the second quarter beat analyst’s expectations. From April to June, Angry Birds 2 generated revenue of 29.7 million euros ($33.8 million), exceeding by 38 percent its previous record set the first quarter. Rovio’s net profit for the quarter came in at 5.2 […]
HONG KONG, China (AFP) — Asian markets opened higher Friday after a positive lead from Wall Street and Europe, with investors cautiously optimistic about upcoming US-China trade talks. Negotiators from Washington and Beijing will meet later this month in the first publicly announced meeting in weeks on their bitter trade dispute, which has seen both sides impose reciprocal tariffs on goods worth $34 billion. The news helped global markets regain composure after several days of […]
by John BIERS © Agence France-Presse NEW YORK, United States (AFP)–Walmart shares surged Thursday after it reported the strongest US comparable sales in more than a decade as e-commerce investments paid off in a strengthening American economy. The world’s biggest retailer said rising online sales, and investments aimed at keeping prices low, boosted store traffic at its namesake US business, the most critical unit for earnings. Comparable US store sales rose 4.5 percent in the second […]
NEW YORK, United States (AFP)–Over 7,000 New York City car-for-hire license applications were filed between the announcement of a one-year cap on new licenses — a blow to the likes of Uber and Lyft — and the measure coming into force, the city regulator said Thursday. New York Mayor Bill de Blasio signed the bill into effect Tuesday, a first in the United States after a city council vote earlier this month. It stipulates a […]
HONG KONG, China (AFP) — Chinese technology giant Lenovo Thursday recorded a sharp rise in first quarter net profit as the company’s turnaround gathered pace. The PC maker posted a $77 million net profit in the quarter to June 30 — up from a $72 million loss in the same period last year. “The Group remains confident in its core PC business, and aims to grow … without compromising on profitability,” chairman Yang Yuanqing said […]
SYDNEY, Australia (AFP) — Australia’s dominant telecommunications company Telstra Thursday warned of “enormous challenges” ahead as it posted an 8.9 percent slump in annual profit. Its net result in the year to June 30 fell to Aus$3.52 billion (US$2.54 billion), while revenue was flat at Aus$26 billion. Chief executive Andy Penn said intense competition for mobile customers and increased customer expectations were having an impact on business. “Companies are defined by how they respond in […]
Open for Business, the online business program of Eagle Broadcasting Corporation (EBC) will be tackling the topic “Financial Inclusion” on its August 18 episode that will showcase the insights of Mr. Catalino S. Abacan, President and CEO of CitySavings. Open for Business focuses on business, financial and economic news and headlines in the Philippines and in key markets around the world. It also highlights the insights of CEOs and key industry leaders in the fields […]
TOKYO, Japan (AFP)–Tokyo stocks opened slightly higher on Wednesday after the Turkish lira rebounded but investors continued to keep a nervous eye on Turkey’s currency crisis. The benchmark Nikkei 225 index gained 0.09 percent or 20.78 points to 22,376.86 in early trade while the broader Topix index was up 0.21 percent or 3.53 points at 1,714.58. Wall Street advanced on Tuesday as Turkey’s lira recovered some ground. But investors were watching closely after the […]
NEW YORK, United States (AFP) — Wall Street stocks finished lower Monday amid worries the Turkish currency crisis will spread to other emerging economies. The Dow Jones Industrial Average shed 0.5 percent to close at 25,187.70. The broad-based S&P 500 fell 0.4 percent to 2,821.93, while the tech-rich Nasdaq Composite Index fell 0.3 percent to 7,819.71. The declines in the US came after other leading equity bourses in Asia and Europe also pulled back as […]
HONG KONG, China (AFP) — Hong Kong stocks opened lower on Tuesday, extending the previous day’s sell-off as investors continue to fret over the impact of Turkey’s economic crisis on the global economy. The Hang Seng Index fell 0.64 percent, or 179.23 points, to 27,757.34. The benchmark Shanghai Composite Index edged down 0.18 percent, or 5.13 points, to 2,780.74, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, slipped 0.15 percent, or […]
