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TOKYO, Japan (AFP) — Tokyo stocks firmed in early trade on Monday as Japan kicked off a new fiscal year in a solid business climate, shrugging off fresh data indicating Japan’s corporate sentiment weakened. The benchmark Nikkei 225 index started the day in negative territory, but quickly emerged above water and added 0.23 percent or 50.41 points to 21,504.71 in early trade. The broader Topix index also gained 0.17 percent or 2.92 points at 1,719.22. […]
BEIJING, China (AFP) — Self-driving cars will hit the roads in China “within three to five years,” the founder of Chinese internet giant Baidu, one of the world’s leading designers of driverless cars, said Thursday. That is a lot sooner than predicted by China’s information technology minister, who last week said it would only be a reality in 8-10 years, citing constraints related to security. “I’m more optimistic than him, I think it will come […]
VIENNA, Austria (AFP) — Anglo-Dutch energy giant Royal Dutch Shell has announced it will sell assets in New Zealand to the Austrian oil and gas group OMV for $578mn. The deal includes stakes in the Maui and Pohokura gas fields and follows the company’s sale of its stake in the Kapuni field last year. Shell opened operations in New Zealand in 1911, but in 2015 announced a review of activities there as part of a […]
NEW YORK, United States (AFP) — Toys ‘R’ US plans to sell or close all of its US stores, potentially hitting 33,000 jobs, US media reported Wednesday. The debt-plagued retailer, which filed for bankruptcy protection in September, told employees that the retailer planned to file liquidation papers ahead of a Thursday court hearing, The Wall Street Journal and The Washington Post reported. “We’re putting a for sale sign on everything,” CEO David Brandon said on a […]
SAN FRANCISCO, United States (AFP) — US President Donald Trump blocked Monday an unsolicited bid by Singapore-based Broadcom to take over smartphone chipmaker Qualcomm, citing national security concerns. Trump issued an order barring the proposed mega-acquisition, saying there is credible evidence such a deal “threatens to impair the national security of the United States,” according to a White House statement. The order came despite Broadcom’s assurances that it would complete its move to the United […]
SAN FRANCISCO, United States (AFP) — Apple announced Monday it is buying digital magazine subscription service Texture, adding to the side of its business aimed at making money from online content or services. The iPhone maker did not disclose financial terms of the deal to buy Texture from its owners — publishers Conde Nast, Hearst, Meredith, Rogers Media and global investment firm KKR. Texture gives subscribers unlimited access to more than 200 magazines, such as […]
TOKYO, Japan (AFP) — Top Japanese car makers said on Monday they were teaming up to nearly double the amount of hydrogen stations in Japan, as the car-mad country seeks to head off competition from China and Germany. Toyota, Nissan and Honda formed a joint venture with major gas and energy companies, including French industrial gases company Air Liquide, to build 80 new hydrogen stations in the next four years, to add to the 101 […]
by Reinnier Kaze Agence France-Presse DOUALA, Cameron (AFP) — Talking fast and dreaming big, William Elong shows off the first “made in Cameroon” drone at his sixth-floor workshop in downtown Douala, minutes from the economic capital’s Atlantic seafront. The 25-year-old, known as a high-flyer after being named one of Forbes’ most promising young Africans under 30, is enthusing about his new unmanned aerial drones and keen to promote his company and Africa as a place […]
FRANKFURT AM MAIN, Germany (AFP) — German computer chip maker Infineon said Friday it is teaming up with China’s biggest carmaker, SAIC Motor Corporation, to produce power modules for the Chinese electric car market, the world’s biggest. Infineon said in a statement it will hold a 49-percent stake in the new Shanghai-based company, SAIC Infineon Automotive Power Modules (SIAPM), which will make inverters — vital parts that convert power from the battery to a form […]
OTTAWA, Canada (AFP) — Canada said Thursday it was allowing Boeing to submit a bid to replace the country’s ageing F-18 fleet, after an earlier trade dispute between the American manufacturer and Ottawa. The announcement came a month after the US International Trade Commission rejected a complaint filed by Boeing against its Canadian rival Bombardier, demanding nearly 300 percent anti-dumping duties on the C Series passenger plane. Boeing, which makes the Super Hornet, is one […]
WASHINTON, United States (AFP) — Singapore-based Broadcom said Wednesday it was cutting its offer price for mobile chip maker Qualcomm in the wake of the US firm’s increased bid for Dutch rival NXP. Broadcom reduced its offer to $79 a share, which would still be the largest-ever deal in the tech sector if completed at an estimated value of nearly $117 billion. The move came amid a closely watched hostile bid for Qualcomm which could […]
SYDNEY, Australia (AFP) — Qantas Airways posted a bumper 17.9 percent jump in interim net profit Thursday and announced a share buyback while outlining plans to create one of the southern hemisphere’s biggest pilot academies. The Australian carrier’s result came in at Aus$607 million (US$473 million), with a strong performance from its domestic arm boosting the bottom line. Underlying profit before tax, its preferred measure, which strips out one-time costs, was the highest in its […]
