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The powerful young prince overseeing Saudi Arabia’s economy unveiled ambitious plans on Monday (April 25) aimed at ending the kingdom’s “addiction” to oil and transforming it into a global investment power. Deputy Crown Prince Mohammed bin Salman said the kingdom would raise the capital of its public investment fund to 7 trillion riyals ($2 trillion) from 600 billion riyals ($160 billion). He added that the world’s top oil exporter expects state oil company Saudi Aramco […]
Daimler shares are marked down sharply on news of a probe into the Mercedes parent company’s emissions. The carmaker’s also taken a hit from a 9% drop in Q1 operating profits.
HONG KONG, China (AFP) Monday 4/25/2016 – Asian markets sank again Monday after losses on Wall Street and in Europe, with oil prices down and the yen recovering some of the losses suffered at the end of last week. Dealers moved cautiously at the start of a busy week that includes policy meetings at the US Federal Reserve and Bank of Japan as well as earnings reports from big-name firms including Sony and Nintendo. The losses […]
By Caesar Vallejos Eagle News Service online correspondent (EAGLE NEWS) — Eagle Broadcasting Corporation (EBC), the media company that pioneered all-digital broadcasting in the Philippines, is joining delegates from more than 180 countries from every continent at the NAB Show, the world’s largest annual conference and expo for professionals who create, manage and distribute entertainment content across all platforms held from April 16 to 21 in Las Vegas. The National Association of Broadcasters […]
Japanese authorities raided the research center of Mitsubishi Motors after the company admits to improper testing of fuel efficiency.
SOURCES say Volkswagen is expected to buy back some 500,000 diesel vehicles sold in the United States that exceeded legal emission levels. Two sources tell Reuters that Volkswagen and US officials have reached a framework deal to buy back some 500,000 vehicles that used sophisticated software to evade US emission rules. The German automaker is expected to buy back the Jetta Sedan, golf compact and Audi A3 sold since 2009. After VW admitted last year […]
by Glenn CHAPMAN SAN FRANCISCO,United States (AFP) — A Google empire built on search shifted attention on Thursday to high-speed Internet networks, 360-degree video broadcasting and “other bets” as parent company Alphabet logged disappointing earnings. Alphabet said net income hit $4.2 billion in the first three months of this year, but shares sank more than five percent to $714 in after-market trades that followed release of the report. The earnings per share fell 46 cents short […]
TOKYO, Japan |(AFP) Friday 4/22/2016 – Tokyo stocks opened lower on Friday as traders banked profits, snapping a three-day rally following a retreat in oil prices. US equity markets pulled back on Thursday from their 2016 peaks in the previous session following renewed weakness in crude prices and a deluge of earnings reports. “After a strong run, US stocks… retreated, which is weighing on Japanese stocks,” Juichi Wako, a senior strategist at Nomura Holdings, told […]
TOKYO, Japan (AFP) Friday 4/22/2016 – Mitsubishi Motors’ shares nosedived for a third day on Friday, falling more than 15 percent in early trading in response to its shock admission that it cheated on fuel-efficiency tests. At 09:41 am (0041 GMT), the stock was down 14.57 percent at 498 yen, after dipping as low as 489 yen, or 16.12 percent off. Panic selling in the past two days had already sent the share price tumbling by a third, […]
by Daniel Leussink TOKYO, Japan (AFP) — Mitsubishi Motors shares nosedived again Thursday as panic selling wiped about $2.5 billion off the automaker’s market value in response to its shock admission that it cheated on fuel-efficiency tests. The embarrassing revelation is the latest in a string of recent scandals to hit Japanese firms, while German giant Volkswagen struggles to restore its badly dented reputation after a massive emissions scandal. The news has also raised questions about […]
Japanese automaker Nissan is looking to the giant robots of the ‘Gundam’ anime series for its new car designs. Ryan Brooks reports on how this might set them apart from a market filled with look-alike designs.
TOKYO,Japan (AFP) — Japanese transport ministry officials raided a Mitsubishi Motors office Thursday following the shock admission by the automaker that it falsified fuel-efficiency tests in more than 600,000 vehicles. The officials descended on a research and development centre in the city of Nagoya Thursday morning, and the government may slap the under-fire company with fines over the scandal, local media said. “This has critically damaged consumers’ trust and it won’t be tolerated,” top government […]
