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by John Biers Agence France Presse NEW YORK, United States (AFP) — Walmart announced Thursday it will raise the minimum wage for US workers to $11 an hour and pay bonuses, but announced plans to close 63 Sam’s Club stores in the US. Owned by Walmart, Sam’s Club is a chain of membership-only warehouse stores that offer discounted prices. Up to 12 of the shuttered Sam’s Club stores would be converted into warehouses for e-commerce, […]
LONDON, United States (AFP) — Brexit could cost the UK nearly 500,000 jobs in a worst-case scenario, according to a study published Thursday which was commissioned by the mayor of London. Britain could lose 482,000 jobs by 2030 if the country crashes out of the European Union, according to research by Cambridge Econometrics. A scenario in which the UK fails to agree a transition deal and future trading relationship with the bloc would also cost […]
TOKYO, Japan (AFP) — Japan’s Fast Retailing said Thursday that sales at its Uniqlo stores abroad had outstripped domestic demand for the first time, as Asia’s biggest retailer delivered quarterly earnings that beat market expectations. Driven by a strong performance in China and the wider Asia region, overseas sales at the cheap-chic Uniqlo chain soared by nearly one third to 258 billion yen ($2.3 billion), just beating the 257 billion yen from domestic sales. Uniqlo […]
SEOUL, South Korea (AFP) — South Korea is preparing to shut down cryptocurrency exchanges in the country, its justice minister warned Thursday, sending prices of bitcoin and other virtual units into a tailspin. A series of measures have failed to curb overheated virtual currency speculation in the country and Justice Minister Park Sang-Ki said it would be “devastating if the bubble bursts.” “The ministry is preparing legislation that basically bans any transactions based on a […]
(Eagle News) – Naglabas na ang Bangko Sentral ng Pilipinas ng isang comparison chart ng bago at lumang P5 barya. Ito ay matapos ang sinasabing kalituhan na idinulot ng bagong disenyo ng barya. Ayon kay Senadora Nancy Binay, ang barya ay kamukhang kamukha ng P1. Ayon sa BSP, mas mabigat ang bagong P5, mas makapal, malaki ng kaunti at makinis din ang gilid nito kumpara sa piso. Makikita sa comparison chart na mula 27 millimeters ay […]
MILAN, Italy (AFP) — Italy’s Ferrero is closing in on a $2.8-billion deal for Nestle’s US confectionary business, Bloomberg said Wednesday, amid signs a deal could be completed by Sunday. Nestle USA registered sales of some 900 million Swiss francs (828 million euros/$900 million) in 2016, in a market worth an overall $8 billion, according to Ibis World — equivalent to around a fifth of the global market. The firms declined to comment on the […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Thursday after Wall Street fell for the first time in 2018 the previous day, while a strong yen weighed on sentiment. The benchmark Nikkei 225 index fell 0.58 percent or 137.89 points to 23,650.31 in early trade while the broader Topix index opened down 0.49 percent or 9.18 points at 1,882.93. “Investors are cashing in on the recent gains after watching a decline on Wall Street,” […]
NEW YORK, United States (AFP) — Japanese automakers Toyota and Mazda announced Wednesday they will build their $1.6 billion joint US manufacturing plant in Huntsville, Alabama. In August, the companies revealed their plans for the factory, which will eventually employ up to 4,000 people. Production at the plant of vehicles for the US market is expected to begin in 2021. They also plan to jointly develop technologies for electric vehicles. “Welcome to sweet home Alabama,” […]
by Rob Lever Agence France-Presse LAS VEGAS, United States (AFP) — Henrik Fisker unveiled his $129,000 electric luxury car Tuesday, in a rebooted effort by the renowned auto designer to take on Tesla and other luxury automakers. The Fisker EMotion, which made its debut at the Consumer Electronics Show in Las Vegas, is part of a comeback effort for Henrik Fisker, a former BMW and Aston Martin designer whose first venture was halted in 2013 […]
HONG KONG, China (AFP) — The rally across Asia that welcomed in 2018 looked to have run out of steam on Wednesday with most markets slipping into the red on profit-taking but energy shares climbed with another surge in oil prices. Strong economic fundamentals and corporate earnings as well as optimism about the impact of Donald Trump’s massive US tax cuts have helped fuel a global advance to record or multi-year highs. However, some analysts […]
HONG KONG, China (AFP) — Asian markets mostly rose on Tuesday with Hong Kong edging up for an eleventh straight trading day as investors press on with a global rally that has the region enjoy its best start to a year since 2006. Wall Street provided yet another record lead as eyes turn to the beginning of the corporate earnings season, with sentiment buoyed by strong economic readings and hopes that Donald Trump’s tax cuts […]
SEOUL, South Korea (AFP) — South Korean telecom giant Samsung Electronics expects to post record operating profits of $14.1 billion in the fourth quarter, it said Tuesday. The company estimated operating profits of 15.1 trillion won ($14.1 billion) in the October to December period, an all-time high for quarterly profits and nearly double the 9.2 trillion won posted a year earlier. Samsung has had to overcome a bribery scandal that saw the company’s de-facto head […]
