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HONG KONG, China (AFP) — Asian markets mostly rose on Wednesday, led by energy giants on the back of rising commodity prices, while traders were also buoyed by strong earnings and positive economic data that saw Wall Street rack up fresh records. Improving demand and the weakening dollar helped fuel a jump in copper prices to five-month peaks, while oil has also been boosted by a report pointing to lower United States stockpiles. Both crude […]
NEW YORK, United States (AFP) — McDonald’s feasted on a big jump in profits in the latest quarter, amid strong United States sales driven by a discounted soda promotion and a premium sandwich launch, the company reported Tuesday. Net income for the quarter ending June 30 surged 28 percent, a $1.4 billion jump from the same period of 2016, and easily topping analyst expectations. However, revenues dipped three percent to $6.0 billion, partly due to […]
NEW YORK, United States (AFP) — Airlines will need 637,000 new pilots over the next 20 years to keep pace with the growth of global air traffic, Boeing reported Tuesday in an annual report on the subject. Its latest estimate of the pilot requirements is up 3.6 percent from last year’s report. Airlines in the Asia-Pacific region alone will need 253,000 new pilots, a third of the total, according to the report, which was prepared by […]
MUMBAI, India (AFP) — India’s stock markets hit record highs on Tuesday with the National Stock Exchange’s much-watched Nifty index breaking the psychological 10,000 point mark for the first time as traders take heart from economic reforms. The Nifty, which consists of 50 of India’s top companies across more than a dozen sectors, rose 0.45 percent, or 44.90 points, to hit 10,011.30 shortly after opening. That came as the Bombay Stock Exchange’s Sensex index extended its […]
SAN FRANCISCO, United States (AFP) — Microsoft on Monday announced the end of days for its pioneering Paint application as it focuses on software for 3-D drawing. Paint drawing and image processing software that made its debut in 1985 with the Windows operating system was among the applications listed as “removed or deprecated” in a Windows 10 Fall Creators Update set for release later this year. Features or functions on the list “are not in […]
CALIFORNIA, United States (Reuters) — Alphabet Inc reported a 27.7 percent drop in quarterly profit Monday (July 24) as the company recorded a previously announced charge related to a record $2.7 billion fine imposed on its Google unit by the European Union. EU antitrust regulators last month hit Google with a record 2.4-billion-euro ($2.7 billion) fine for favoring its own shopping service, taking a tough line in the first of three probes of its dominance […]
NEW YORK, United States (AFP) — Wall Street finished split on Monday, with the Dow and S&P 500 lower, while the Nasdaq closed at a fresh all-time high. The tech-heavy Nasdaq was drawn higher in anticipation of earnings from Google-parent Alphabet after the close, which handily beat analyst expectations, but saw its share price fall in after-hours trading. The Nasdaq rose 0.4 percent to reach a new record finish at 6,410.81, the fourth record in […]
by Heather Scott Agence France-Presse WASHINGTON, United States (AFP) — The global economic recovery is on firmer footing as improving growth in China, Europe and Japan offset downward revisions for the United States and Britain, the International Monetary Fund said Sunday. However, wage growth remains sluggish which risks increasing tensions that have pushed some countries toward more anti-global policies, while efforts to erode financial regulations put in place since the 2008 crisis could erode stability, […]
NEW YORK, United States (AFP) — Wall Street stocks fell modestly Friday on mixed earnings and lower oil prices, ending Nasdaq’s streak of 10 straight gains that included three straight closing records. Petroleum-linked shares including Dow member Chevron and Halliburton fell as oil prices dropped on worries about excess supply. General Electric was the biggest loser in the Dow, tumbling 2.9 percent after signaling it expects 2017 earnings to be on the low end of […]
NEW YORK, United States (AFP) — Volkswagen must pay an additional $154 million to California to settle state environmental charges in the latest penalty in the scandal over its use of emissions “defeat devices,” regulators announced Thursday. The sum is on top of $533 million VW already paid to California in the so-called dieselgate conspiracy, in which software allowed cars to pass emissions tests, while still spewing nitrogen oxide far above legal limits. “This payment […]
WASHINGTON, United States (AFP) — The International Monetary Fund late Thursday approved a new, $1.8 billion loan program for Greece but will not release any funds immediately, in a highly unusual compromise step. The IMF last month announced it would revive the seldom-used option of approving a loan “in principle,” in order to convince eurozone finance ministers to release desperately-needed new funds to Greece. The latest 8.5 billion euro disbursement from the eurozone loan program […]
SAN FRANCISCO, United States (AFP) — Microsoft on Thursday reported that its quarterly profit climbed to $6.5 billion, lifted by its shift to computing services hosted in the internet cloud. The United States technology giant said revenue in the recently ended quarter rose to $23.3 billion, with $7.4 billion of that due to its “intelligent cloud” offerings. “Innovation across our cloud platforms drove strong results this quarter,” Microsoft chief executive Satya Nadella said in a […]
