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SINGAPORE, Singapore (AFP) — Singapore Telecom (Singtel) on Thursday reported a slight annual increase in its first quarter net profit, boosted by robust mobile data usage and strong contributions from its regional associates. Net profit growth in the three months to June however was weighed down by the absence of exceptional gains which had boosted earnings in the same period the year before, and a strong local dollar, Singtel said in a filing with the […]
QUITO, Ecuador (AFP) — Ecuador said Wednesday it will let Swedish officials interview Julian Assange at its embassy in London, where the WikiLeaks founder has been sheltering since June 2012. In a statement, the foreign ministry said a letter has been sent by the Ecuadoran government to set up a meeting with Swedish officials at Quito’s embassy in London. The meeting is to take place “in the coming weeks,” the statement said. Prosecutors in Sweden want […]
HELSINKI, Finland (AFP) — Is stripping down and getting sweaty with strangers your kind of thing? In Finland, despite an astounding two million private saunas, the hottest trend sweeping the sweat-tank loving country is public saunas.
SEOUL, South Korea (AFP) — The head of Volkswagen’s South Korean unit apologised Thursday as he presented himself to state prosecutors for questioning over the German carmaker’s emissions fraud scandal. Johannes Thammer, CEO of Volkswagen Korea, was summoned by the Seoul Central District Prosecutors’ Office a week after South Korea banned the sale of 80 Volkswagen AG models. “Fist of all, I want to say that I am sorry for the situation and we will […]
WASHINGTON, United States (AFP) – by Douglas Gillison The US economy saw robust job creation in July, largely surpassing analyst expectations, while the unemployment rate remained stable at 4.9 percent, the Labor Department reported Friday. The new numbers were also accompanied by upward revisions for the months of May and June in a sign that the job market in the world’s largest economy is healthier than previously thought. The strong figures also come in […]
NEW YORK, United States (AFP) — Jaguar Land Rover announced Thursday it is recalling more than 50,000 vehicles in the United States to fix defective Takata airbags. The British luxury carmaker, part of Indian giant Tata Motors, said it has begun sending recall notifications to owners of certain 2009-2011 Jaguar XF vehicles and 2007-2011 Land Rover Range Rover vehicles. Recalls have been ordered for about 54,000 vehicles in the first wave of recalls for a […]
LONDON, United Kingdom (AFP) – by Roland JACKSON The Bank of England on Thursday slashed interest rates to a record low 0.25 percent and announced a vast stimulus package to combat economic fallout from Britain’s looming EU exit. Policymakers voted unanimously to reduce rates by a quarter-point, the bank said in a statement after its latest meeting, cutting borrowing costs for the first time in more than seven years. The BoE also delivered a £170-billion […]
Tesla Motors Inc reported a steeper than expected quarterly loss on Wednesday (August 17) on higher spending at its vehicle and battery factories, even as the company said it planned to accelerate store openings around the world. The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial hurdles that hamper it while it takes on increasingly ambitious goals – a ten-fold ramp of vehicle production in three years and the recent […]
TOKYO, Japan (AFP) — The parent company of Japan’s All Nippon Airways on Wednesday cited “terrorist incidents” in Europe and earthquakes at home for helping drag its April-June net profit down more than a fifth. ANA Holdings posted net profit of 6.6 billion yen ($65.8 million) for its fiscal first quarter, 20.7 percent lower than the same period last year, adding that a strong yen also took a bite out of its bottom line. The […]
by Jennie MATTHEW NEW YORK, United States (AFP) — US fashion house Calvin Klein on Tuesday announced the appointment of former Christian Dior designer Raf Simons as its new chief creative officer, with his debut collections set for the fall 2017 season. The appointment of the 48-year-old design heavyweight, effective immediately, will see the Belgian lead the creative strategy of the brand globally, including its clothing, underwear, jeans and home furnishings. “As part of his […]
MANILA, Philippines (AP) — Global shares were mostly lower Tuesday, as a Japanese stimulus package and a decision by Australia’s central bank to cut its key interest rate failed to lift sentiment. The recent decline in oil prices also weighed on trading. KEEPING SCORE: Britain’s FTSE 100 fell 0.4 percent to 6,667.31. Germany’s DAX lost 1.4 percent to 10,190.80 and France’s CAC 40 was 1.4 percent lower at 4,345.95. U.S. futures also indicated a lower […]
MANILA, Philippines (AFP) — Swiss food giant Nestle said Tuesday it would spend two billion pesos ($43 million) in the Philippines on a plant to produce a key ingredient for its Milo beverage. Nestle Philippines chairman Jacques Reber said the plant, due to be completed in October 2017, would produce a malt extract currently imported from Singapore. Eventually the new plant will provide the local supply, possibly using Philippine-grown cassava which in turn will help […]
