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TOKYO, Japan (AFP) — Toshiba said Wednesday it has not yet reached a deal to sell its prized chip business to a consortium of United States, Japanese and South Korean investors, as the troubled conglomerate holds a shareholder meeting. The sale, reportedly worth some 2.0 trillion yen ($18 billion), is seen as crucial for the cash-strapped company to plug massive losses at its US nuclear division, Westinghouse Electric. Last week, Toshiba said it has entered […]
CHINA (Reuters) – The industrial profit growth of large enterprises in May continued a good momentum with a year on year growth of 16.7 percent, China’s National Bureau of Statistics (NBS) announced on Tuesday. The total industrial profits of large enterprises in May reached about 626 billion Yuan (around 95 billion US dollars), increasing 16.7 percent year on year. The growth rate is 2.7 percentage points higher than in April. The equipment manufacturing industry accounted […]
by Roland JACKSON Agence France Presse LONDON, United Kingdom (AFP) — Britain’s economy will slow in the coming years, the CBI business lobby warned Tuesday, blaming domestic political turmoil — and the impact of Brexit one day after EU divorce talks began. The economy will expand by 1.6 percent this year before slowing to 1.4 percent in 2018, according to upgraded forecasts from the Confederation of British Industry, after 1.8-percent growth in 2016. The CBI, […]
HONG KONG, China (AFP) — Asian markets mostly rose on Friday following a sell-off the previous day, while the dollar and pound extended gains on growing expectations of a hike in United States and British interest rates. Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices. But they shifted back into buying mode in […]
BEIJING, China (AFP) — Output by Chinese factories and workshops topped expectations in May, but officials warned on Wednesday of lingering “unstable and uncertain factors” at home and abroad. The reading on industrial production, a key engine of growth, comes as Beijing wrestles with huge debt and excess capacity left over from massive government-backed infrastructure spending at the height of the global financial crisis. There have been renewed concerns about the strength of the world’s […]
HONG KONG, China (AFP) — Asian investors on Wednesday struggled to track a record close on Wall Street as they await the Federal Reserve’s latest policy meeting hoping for a guide on its plans for monetary policy. The central bank is all but certain to lift interest rates after its meeting ends later in the day but the main focus will be on chair Janet Yellen’s comments afterwards. Some analysts suggest the rise could be […]
by Adam Plowright Agence France-Presse PARIS, France (AFP) – French President Emmanuel Macron said Tuesday the door was “always open” for Britain to remain in the European Union despite Prime Minister Theresa May saying Brexit talks would begin next week. The meeting in Paris followed the leaders’ remarkably different political fortunes in the past week, which saw Macron’s party headed for a massive parliamentary majority, while May lost her slim advantage in the House of […]
TOKYO, Japan (AFP) — Japan’s benchmark Nikkei index slipped Tuesday in response to Wall Street’s technology sell-off, with market heavyweight SoftBank falling for a second day. United States technology giants including Apple and Netflix Monday suffered another bruising session in New York which analysts attributed to profit-taking. “The upward trend in earnings for US technology companies isn’t likely to change, but with those stocks in for a speedy correction, it’s hard to buy their Japanese […]
TOKYO, Japan (AFP) — Japan’s economy grew less than initially thought in the first quarter, revised government data showed Thursday, but the weaker-than-expected numbers still confirmed the longest expansion in over a decade. The world’s number three economy posted 0.3 percent growth between January and March — or 1.0 percent at an annualized rate — which was down from a preliminary 0.5 percent growth estimate. The unexpected downgrade was also below market expectations for an […]
SYDNEY, Australia (AFP) — Australia marked a world-record 26 years without a recession Wednesday, as the economy grew 0.3 percent in the first-quarter, official data showed. The Australian Bureau of Statistics put the annual rate of growth at 1.7 percent, down from 2.4 percent in the previous three months. The soft quarterly reading was widely expected by analysts amid the impact of category four Cyclone Debbie on eastern Australia in late March, weaker trade figures […]
WASHINGTON, United States (AFP) — The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday. Rising trade protectionism and policy uncertainty, primarily in the United States under President Donald Trump, pose important cautions for the outlook. For the first time in four years, the latest edition of the World Bank’s […]
TOKYO, Japan (AFP) — Tokyo shares opened slightly down Monday as the yen remained stronger after a lackluster United States jobs report late Friday and the London attack escalated political uncertainties. The dollar fetched 110.39 yen in early Asian trade, down modestly from 110.44 yen late Friday in New York, as weak US jobs data weighed on US Treasury yields. “The numbers were solid enough to keep the Fed on track for a June hike, […]
