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TOKYO, Japan (AFP) — Sony on Friday cut its sales forecast for the current fiscal year, citing the impact of a surging yen and slower smartphone sales, as net profit also took a hit. But it managed to stay in the black as strong sales of its PlayStation 4 offset negative impacts from a sharp rise in the yen and deadly earthquakes in Japan earlier this year which temporarily shuttered its regional factories. Revenue in […]
Amazon.com Inc reported a better-than-expected rise in quarterly revenue on Thursday (July 28), powered by blockbuster growth in its cloud services unit. Amazon’s web retail sales in the United States and internationally, the core of the company’s business, also topped expectations, and it forecast revenue ahead of expectations for the third quarter. Shares of Amazon, the world’s biggest online merchant, were up 2 percent in after-hours trading. The Seattle-based company is riding a wave of […]
SAN FRANCISCO, United States (AFP) — Apple announced Wednesday the sale of its billionth iPhone, a milestone for the company as it seeks to keep momentum in a competitive smartphone market. Chief executive Tim Cook made the announcement at a staff meeting at the company’s California headquarters. “IPhone has become one of the most important, world-changing and successful products in history,” he said in a statement. “It’s become more than a constant companion. IPhone is […]
SEOUL, South Korea (AFP) — Solid sales of its flagship smartphone and an aggressive cost-cutting drive saw Samsung Electronics on Thursday post a better-than-expected gain in net profit for the second quarter. The giant South Korean conglomerate said its key mobile division enjoyed “substantial earnings improvement” in the April-June period led by expanded sales of its high-end Galaxy S7 and S7 Edge phones. Industry trackers estimate that the world’s largest smartphone maker has sold about […]
WASHINGTON, United States (AFP) by Douglas Gillison The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016. Policy makers had not been expected to raise rates, out of concern that a hike could stifle fragile growth. Their improving view on economic conditions left open the possibility of an increase in the benchmark federal funds rate, currently at 0.25-0.50 percent, […]
LONDON, United Kingdom (AFP) – BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said Tuesday. The company posted a loss after taxation of $1.4 billion (1.3 billion euros) for the three months to June, which however compared with a far larger loss of $5.8 billion for the second quarter of 2015. BP also booked a net […]
Asian shares held near nine-month highs on Monday (July 25) as worries over the impact of Britain’s Brexit vote eased, while the dollar was buoyed by a run of solid U.S. economic data. Policymakers from the Group of 20 countries agreed at the weekend to work to support global growth and better share the benefits of trade, in a weekend meeting dominated by the impact of Britain’s exit from Europe and fears of rising protectionism. […]
Telecommunications giant Verizon is expected to announce a $5 billion dollar deal to purchase Yahoo. A source familiar with the matter says the announcement is expected to come before the start of trading in New York on July 25. This brings some clarity following months of uncertainty about Yahoo’s future, after the company in February said it was weighing strategic alternatives. Verizon was reported to be the front runner in the Yahoo auction. Bloomberg earlier […]
by Sophie ESTIENNE SAN FRANCISCO, United States (AFP) — Yahoo was set to announced a deal to sell its core online assets, ending a 20-year run as an independent company for the internet pioneer. Multiple reports said Yahoo, which introduced many users around the world to the internet, would be selling its main assets for $4.8 billion to telecom giant Verizon. The New York Times said the deal would exclude the hefty Yahoo stakes in […]
BEIJING, China (AFP) — China has completed production of the world’s largest amphibious aircraft, state media has said, the latest effort in the country’s program to wean itself off dependence on foreign aviation firms. The state-owned Aviation Industry Corporation of China (AVIC) unveiled the first of the new planes, dubbed the AG600, Saturday in the southern port city of Zhuhai, the official Xinhua news agency reported. The aircraft, which has a maximum range of 4,500 […]
THE HAGUE, Netherlands (AFP) – Dutch food and cosmetics giant Unilever posted Thursday a rise in sales for the first half of 2016, boosted by mens’ grooming products, but warned of “no sign of an improving global economy”. Total sales clocked in 2.6 percent higher at 26.3 billion euros ($29 billion) and net profit stood at 2.7 billion euros, up by 2 percent from 2015. Unilever said the first half of the year was marked by “a period […]
Caesar Vallejos EBC Correspondent With the theme “Empowering Sustainable Convergence”, the ASEAN Corporate Sustainability Summit and Awards (ACSSA) held at the Manila Marriott Grand Ballroom Hotel last July 21, 2016 urged industry leaders, sustainability practitioners, civil society partners, regional regulators, public sector leaders and aid agencies to converge and become more involved in sustainable development. One of the event’s speakers, David Young, Chief Operations Officer of impact investing technology company ADEC Innovations, focused on the […]
