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HONG KONG, China (AFP) — Asian markets mostly rose on Tuesday following another strong lead from New York, as optimism about the US economy and the beginning of the earnings season provide a distraction from trade tensions. After weeks of losses across the world, investors moved back in on Friday as the tit-for-tat tariffs between Beijing and Washington had already been factored in and attention shifted to US jobs and corporate results. Wall Street’s three […]
WASHINGTON, United States (AFP) – Uber made a move into electric scooters Monday, as the ride-service giant agreed to a strategic partnership with Lime, one of the major players in the fast-growing segment. Lime announced the new $335 million investment to be led by GV — formerly Google Ventures — with additional funding from Google parent Alphabet and others including Uber. Uber will make “a sizable investment,” according to Lime co-founder and chief executive Toby […]
NEW YORK, United States (AFP) – Twitter shares tumbled Monday on concerns the social media’s efforts to crack down on fake accounts would affect its user base, and potentially its finances. At 1810 GMT, shares of the social media company were down 6.0 percent at $43.89 after earlier shedding almost 10 percent. The decline follows a report late Friday in the Washington Post that described how Twitter’s greater scrutiny of user data had resulted in […]
MILAN, Italy (AFP) — Amazon will bring 1,700 new jobs to Italy by the end of the year, the online commerce giant announced Monday, bringing its number of employees working in the country’s groaning economy to 5,200. In a statement Amazon said that the new positions would be permanent hires and open to “people with all levels of experience, training and skills, from software developers and engineers to warehouse workers”. Unemployment in Italy stands at […]
TOKYO, Japan (AFP)–Nissan admitted Monday that data on exhaust emissions and fuel economy had been deliberately “altered,” dealing a blow to the Japanese car giant’s efforts to recover from an inspection scandal last year. The company did not say how many cars were affected by the falsifications, which were uncovered during voluntary tests of all parts of Nissan’s operations conducted in the wake of last year’s scandal. It said that tests on exhaust emissions and […]
SYDNEY, Australia (AFP)–Australian tycoon James Packer has quit his family firm Consolidated Press Holdings as he recovers from mental health issues, a spokesman said Monday, months after he stepped down from gaming empire Crown Resorts. Packer’s departure from his private investment vehicle is the latest step by one of Australia’s richest people — who has previously spoken about his battles with depression — to walk away from his business commitments. “Mr Packer has stepped off the […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Monday, extending rallies in New York with the cheaper yen also supporting the market. The benchmark Nikkei 225 index edged up 0.23 percent, or 51.08 points, to 21,839.22 in early trade while the broader Topix was up 0.34 percent, or 5.75 points, at 1,697.29. “After gaining in early trade, the Tokyo market today could lose a sense of direction” as positivity generated by rallies last week […]
WASHINGTON, United States (AFP) — A US court on Friday imposed the maximum fine of $1.5 million of Chinese firm Sinovel for stealing trade secrets from an American company producing wind turbines, the Justice Department said. The decision comes on the day Washington unleashed 25 percent import tariffs on $34 billion in Chinese products to punish the country for what President Donald Trump has said is the rampant theft of American technology. After being charged […]
SEOUL, South Korea (AFP) — South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 percent rise in second quarter operating profit from a year earlier, missing analyst estimates. Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter. The forecast came at the low end […]
(Eagle News) – Inflation continued to increase this June at 5.2 percent, which is higher than the previous month’s 4.6 percent, and exceeding both government and market expectations. This was the highest headline inflation rate for the Philippines since October 2011, when the country last posted a 5.2 percent inflation. It is also the highest since 2013 based on the five-year monitoring of the Philippine Statistics Authority’s year-on-year inflation rate. The inflation rate in […]
(Eagle News) – The national government has spent P281 billion on infrastructure in the first five months of 2018 which was 42 percent higher than the same period last year. This was announced by the Department of Finance which has expressed confidence in the economy expanding by 7 percent or better over the medium term. Finance Secretary Carlos Domimguez III said that with the P281 billion invested on infrastructure from January to May this […]
SANTIAGO, Chile (AFP) — The world’s largest copper producer, Chile, said it was concerned Wednesday as copper fell to a nine-month low ahead of the first shots of a US-China trade war this week. “We are worried and we hope it’s a transitory effect,” Finance Minister Felipe Larrain told a news conference, attributing the 2.0 percent drop to US trade tariffs on goods from China and the prospect of Chinese retaliation. “Unfortunately, what we have […]
