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by John Biers / with Glenn Chapman in San Francisco Agence France-Presse NEW YORK, United States (AFP) — Apple — the culture-changing company behind the iPod, iPhone and iPad — hit another milestone on Thursday, becoming the first private-sector company to surpass $1 trillion in market value. Shares of Apple finished the formal Wall Street trading day at $207.39, topping the magic number two days after the California tech giant reported strong quarterly earnings. The […]
SHANGHAI, China (AFP)–Starbucks on Thursday announced a partnership with e-commerce giant Alibaba that will give the US coffee giant greater access to China’s growing food-delivery market as it faces increased competition from local firms. The move comes as Seattle-based Starbucks faces a challenge from upstart Chinese company Luckin Coffee, which has expanded aggressively on a strategy based largely on satisfying delivery orders placed by mobile app users. “We truly believe that this enduring partnership will […]
SINGAPORE (AFP) — Ride-hailing firm Grab said on Thursday it has raised $2 billion from investors to expand its offerings including electronic payments, food delivery and courier services as it fights fierce competition in the fast-growing sector. Around half of the funds came from Japanese car giant Toyota, which announced last month it was pumping $1 billion into Grab, Southeast Asia’s dominant ride-share company. Grab said a “significant portion” of the proceeds would go to […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP)–Tesla shares revved on Wednesday on news the electric car maker is on the road to being profitable this year despite losing more money than analysts expected in the recently ended quarter. Tesla shares raced up more than 9 percent to $328.01 in after-market trades that followed release of earnings figures and a call in which chief executive Elon Musk patiently fielded questions and expressed regret […]
SAN FRANCISCO, United States (AFP) – China-based Huawei took the second-place spot from Apple in a tightening global smartphone during the second quarter of this year, according to figures released Tuesday by International Data Corporation. South Korean consumer electronics titan Samsung remained the top smartphone maker, shipping 71.5 million handsets, but Huawei moved into second position with shipments of 54.2 million, according to IDC Worldwide Quarterly Mobile Phone Tracker. Silicon Valley-based Apple shipped 41.3 million […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP) — Apple said Tuesday that its profit had jumped more than 30 percent to $11.5 billion in the recently ended quarter, besting market expectations despite selling fewer iPhones than analysts projected. The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value. Apple’s revenue in the fiscal third quarter soared 17 percent to $53.3 billion […]
TOKYO, Japan (AFP) – Sony on Tuesday revised upward its full-year profit and sales forecast, reporting first quarter profits nearly tripled from a year earlier, as it extends a roaring recovery under its new CEO. The electronics and entertainment giant now forecasts 500 billion yen ($4.5 billion) in net profit for the fiscal year to March 2019, up from its earlier estimate of 480 billion yen. Annual sales are now projected to rise slightly, with […]
TOKYO, Japan (AFP)–Nintendo said Tuesday its quarterly net profit jumped 43.9 percent year-on-year to $275 million, driven by the global popularity of its Switch console and game titles. The Kyoto-based game giant reported net profit for the three months to June of 30.6 billion yen ($275 million), with operating profit soaring 88.4 percent to 30.5 billion yen. It said sales were up 9.1 percent to 168.16 billion yen, and it expects strong demand for the […]
HONG KONG, China (AFP) — Asian markets opened lower on Tuesday, following poor performances by tech firms on Wall Street and as investors anticipated a Bank of Japan policy decision. US tech equities suffered a significant tumble on Monday, pushing the tech-rich Nasdaq Composite Index in New York down 1.4 percent — the third straight day it had lost at least one percent. Silicon Valley shares have been in retreat since Facebook last week signaled […]
SAN FRANCISCO, United States (AFP)–Nokia will help T-Mobile deploy a superfast “5G” mobile internet network across the United States in a $3.5-billion deal, the companies announced Monday. Finland-based Nokia will provide T-Mobile its suite of 5G technology, and help build the telecommunications firm’s new-generation nationwide wireless network, the companies said. “We are all in on 5G,” T-Mobile chief technology officer Neville Ray said in a release. “And together with Sprint, we’ll be able to do […]
SAN FRANCISCO, United States (AFP) — Uber on Monday said it is hitting the brakes on self-driving trucks, shifting gears to focus just on autonomous cars. Uber is among a number of technology and car companies racing toward what some contend is an inevitable future in which vehicles drive themselves. Uber’s aspirations had included self-driving trucks, with the smartphone-summoned-ride service revving that effort with the purchase of startup Otto two years ago. “We’ve decided to […]
SEOUL, South Korea (AFP) – Samsung Electronics on Tuesday reported a 0.1 percent dip in its second quarter net profit from a year earlier, blaming slower sales of smartphones and display panels for the drop. Net profit for the April to June period came in at 11.04 trillion won ($9.9 billion), slightly lower than the 11.05 trillion won in the same period in 2017, the company said in a regulatory filing. Operating profit was 14.87 […]
