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NEW YORK, United States (AFP) — A hefty drop in Apple shares left the Nasdaq in the red Thursday, but higher oil prices helped keep the Dow in positive territory. Apple briefly ceded its crown as the world’s biggest publicly traded company to Google parent Alphabet during the session, but managed to edge out Alphabet at the end of trade. But Apple still finished down 2.4 percent on worries about declining iPhone sales and the lack […]
PARIS, France (AFP) – by Kate Millar A global oil glut that has sent prices tumbling is set to “shrink dramatically” later this year, as wildfires have disrupted Canada’s output and demand in India soars, the International Energy Agency (IEA) said Thursday. Demand for oil worldwide is set to grow at a “solid” rate in 2016, with India the “star performer” after making up nearly 30 percent of the global increase in demand in the […]
SINGAPORE , Singapore (AFP) — Singapore Telecom (Singtel) on Thursday reported a full-year net profit rise, driven by increased mobile data usage as more customers browse the Internet on handheld devices. Investments in high-speed Internet networks and services are paying off as the easy mobile connections allow people to consume more data while on the go, said Singtel, Southeast Asia’s biggest telecom firm by revenue. “Mobile data was the bright spot,” said Singtel Group chief […]
SINGAPORE (AFP) — Oil prices dipped in Asia on Thursday as investors locked in profits after the previous day’s surge to six-month highs that was fueled by a surprise decline in US stockpiles. The Department of Energy said Wednesday that inventories slid 3.4 million barrels last week, confounding analysts’ expectations for a rise and signalling strong demand in the world’s top oil-consuming nation. The report also said US oil production fell, providing hope to a […]
TOKYO , Japan (AFP) — Nissan Motor confirmed Thursday it was in capital tie-up talks with scandal-hit Mitsubishi Motors, as media reports said the deal would effectively be an acquisition that would create a mega-automotive group. The deal, if agreed, would create a firm that would rival global titans Toyota and Volkswagen in terms of sales volume, Japanese media said. “Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided,” […]
SINGAPORE, Singapore ( AFP ) — Oil prices dipped in Asia Wednesday after the previous day’s rally as Canadian oil companies prepare to restart production after being closed by huge wildfires. The commodity has seen strong swings this week as traders weigh up the effects of the blazes that have torn across the vast oil sands region of Alberta as well as disruptions elsewhere. Tuesday saw both main contracts rally as data showed output […]
TOKYO, Japan (AFP) — The yen weakened Tuesday as Japanese officials ramped up a bid to tame the surging currency, while the Philippine peso ticked higher with anti-establishment firebrand Rodrigo Duterte set to become the country’s new president. After soaring to 18-month highs against the dollar, the yen has sagged as officials threaten to intervene in currency markets to stop its “speculative” rally. On Tuesday, finance minister Taro Aso repeated warnings about possible action, after saying […]
HELSINKI , Finland (AFP) — Nokia suffered a net loss of 513 million euros ($583 million) in the first quarter, the Finnish telecom equipment giant said Tuesday in its first earnings announcement after acquiring its French-American rival Alcatel-Lucent. The group’s sales fell by eight percent in its main network equipment business, but Nokia highlighted in a statement its operating margin increased by 1.7 points to 6.2 percent. In comparable figures, the company’s global revenue fell […]
WASHINGTON ,United States (AFP) — US doughnut chain Krispy Kreme is being bought by the German investment group JAB Holding, folding it into JAB’s strong portfolio of European and North American coffee and coffee-shop brands. JAB said Monday that its unit JAB Beech would pay $1.35 billion to take the New York Stock Exchange-listed Krispy Kreme Doughnuts private. That will put the nearly 80-year-old doughnut and coffee chain, with more than 1,100 shops in 26 […]
STOCKHOLM , Sweden (AFP) — Canadian mining company Lucara Diamond on Monday announced the sale of a huge 813 carat diamond for a record $63 million (55 million euros), ahead of the sale of an even bigger one. The sale of the massive “Constellation” diamond was “the highest price ever achieved for a rough diamond, breaking all records,” CEO William Lamb said in a statement. The name of the buyer for the diamond, discovered in […]
BEIJING, China (AFP) — US social network Facebook has won a trademark case in China against a local company, state media reported Monday, weeks after a court ruled against tech giant Apple in a similar suit over its iPhone brand. China’s trademark authorities in 2014 approved an application by a beverage factory to register the brand “face book” for products such as drinks and potato crisps, state broadcaster China Central Television’s English channel said on a […]
Scandal-hit Toshiba on Friday appointed a new president to steer the vast conglomerate past a huge accounting scandal that has hammered its reputation. Company veteran Satoshi Tsunakawa, 60, a senior vice president who joined Toshiba in 1979, will replace incumbent chief Masashi Muromachi in June, Toshiba said. Muromachi became interim president in July last year after top executives resigned over the scandal. The company on Friday also named a new chairman, saying that new leadership […]
