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LONDON, United Kingdom (AFP) — Britain’s new £1 coin with the symbols of England, Scotland, Wales and Northern Ireland goes into circulation from Tuesday on the eve of the launch of a Brexit process that has put national unity in doubt. The 12-sided coin is the first change to the shape of the £1 coin since its introduction in 1983. Britain’s finance ministry said the new coin would be “the most secure of its kind […]
TOKYO, Japan (AFP) — Shares in Toshiba plunged Monday on a report that said its loss-hit United States nuclear unit could be placed into bankruptcy protection as early as this week. Westinghouse Electric could file for Chapter 11 on Tuesday, while the troubled unit is eyeing Korea Electric Power to help with a subsequent restructuring, Japan’s Nikkei business daily said, without citing sources. The two firms have an existing technology partnership. Toshiba’s Tokyo-listed stock opened […]
by Roland JACKSON / Jean-Baptiste OUBRIER Agence France Presse MANCHESTER, United Kingdom (AFP) — Worries are whirring in Britain’s smaller financial centers — which together employ far more people than the glamorous City of London — that the looming EU departure will lead to heavy job losses. In Manchester’s buzzing finance district of Spinningfields, a worker at an insurance company said he thought it would have “a huge impact”. “Business are going to pull out, […]
AUCKLAND, New Zealand (Reuters) — New Zealand Prime Minister Bill English on Friday (March 24) announced a renewed push to promote free trade in his first major trade policy announcement since taking over as leader last December. New Zealand’s $180 billion economy depends on exports, and the country lobbied hard in favour of the Trans-Pacific Partnership trade deal. It wants to push for an expansion of a free-trade agreement with China at a meeting with […]
SEOUL, South Korea (AFP) — The world’s biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea’s wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring. Following the embarrassing recall of the Galaxy Note 7 smartphone and under pressure from activist shareholders to improve corporate governance, Samsung Electronics said last year that it was considering splitting the company in two. Its vice-chairman Lee Jae-Yong, the heir to the […]
CANBERRA, Australia (Reuters) — Chinese Premier Li Keqiang said on Friday (March 24) that Beijing and Canberra should extend free trade to more sectors and defended China’s stance on the disputed South China Sea. Li, the first sitting premier to visit Australia in 11 years, said China will now accept chilled beef exports from all licensed exporters. China is already Australia’s largest trading partner, business that has been propelled by the wide-ranging free trade agreement […]
CANBERRA, Australia (AFP) — Australia urged China Thursday to press ahead with economic reforms as Premier Li Keqiang began a trade-focused visit amid growing fears of a US slide towards protectionism. China is Australia’s largest trade partner and its economic importance has grown in the Donald Trump era after the US president ripped into Australian Prime Minister Malcolm Turnbull in a decorum-breaking phone call, fraying relations. Turnbull said he hoped China and Australia could sign […]
by Damian WROCLAVSKY Agence France-Presse BRASILIA, Brazil -Brazil’s government fought Wednesday to save the country’s meat industry from getting burned in a corruption scandal that has prompted several countries to pull Brazilian beef and chicken from the menu. Agriculture Minister Blairo Maggi did not mince his words. “What we are suffering now is a blow, a punch to the stomach,” he told the Senate. “We have to recover, to reorganize our forces, to travel around […]
by Danny McCord Agence France Presse HONG KONG, China (AFP) — Asian markets tumbled Wednesday, tracking a US and European sell-off as the Trump-fuelled surge in equities went into reverse on doubts about his ability to fire up the economy. The dollar also struggled to recover against its major rivals and suffered fresh losses against high-yielding units as the euphoria of the US postelection period faded. After hitting multiple records this month, Wall Street’s main […]
LONDON, United Kingdom (AFP) — British annual inflation jumped in February to the highest level in almost three and a half years, driven by increasing fuel costs, data showed Tuesday. The 12-month inflation rate hit 2.3 percent last month compared with 1.8 percent in January, the Office for National Statistics (ONS) said in a statement. Analysts’ consensus forecast had been for a pick-up to 2.1 percent. The February reading was the highest level since September […]
NEW YORK, United States (AFP) — Nike reported solidly higher third-quarter earnings Tuesday, but warned a tough North American selling environment would crimp profit margins. The sports apparel and sneaker giant scored profits of $1.1 billion for the quarter ending February 28, up 20 percent from the year-ago period. Revenues came in at $8.43 billion, up five percent from the year-earlier period, but a bit below the $8.47 billion expected by analysts. Gross margins contracted […]
QUEZON City, Philippines (Eagle News) — Henry Sy once again topped the list of richest men in the Philippines based on the ranking released by Forbes Magazine. SM founder Sy has an estimated wealth of $12.7 billion and is the 94th richest in the world. This is the 10th consecutive time that Henry Sy topped the list.
