Saturday, 30 July 2016

Alphabet and Amazon wind up stellar quarter for big tech

2016-07-30 GOOGLE parent Alphabet Inc and e-commerce giant Amazon.com Inc capped a blockbuster June quarter for the five biggest US tech companies as their dominance in key markets helped them defy the “law of large numbers”.Apple Inc, Microsoft Corp and...

’Pokemon Go’ creators working to be ‘respectful’ of reality

2016-07-30 THE creators of ‘Pokemon Go’ say they’re working to remove real-world locations that don’t wish to be included in the mobile gaming sensation.The Pokemon Company’s consumer marketing director JC Smith said in an interview this week that they’re...

Oil falls to 3-month lows on glut woes

2016-07-30 WORLD oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production. The market extended its losses yesterday to a seventh straight day, as traders’...

US economy slows to 1.2% in Q2

2016-07-30 GROWTH in the US economy was sluggish again in the spring, dashing expectations for a robust rebound after a tough winter. Stronger consumer spending was offset by weakness in housing construction and a big slowdown in the pace that businesses...

Friday, 29 July 2016

Oil steadies just above 3-month lows on oversupply

2016-07-29 OIL prices steadied just above three-month lows yesterday as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened.Brent crude oil was down 35 cents at US$43.12 a barrel by 1335 GMT, after...

Rolls-Royce logs net loss on slumping pound

2016-07-29 BRITISH engine maker Rolls-Royce said yesterday it plunged into a first-half net loss on a vast accounting charge sparked by a post-Brexit collapse in the pound.The group posted a loss after taxation of £1.77 billion (US$2.32 billion, 2.11 billion...

Thursday, 28 July 2016

Air France-KLM cuts loss, warns of attacks impact

2016-07-28 AIR France-KLM said yesterday it managed to cut its net loss significantly in the first half of this year but warned attacks had reduced the attractiveness of France as a travel destination. “The global context in 2016 remains highly uncertain...

AccorHotels buys concierge group

2016-07-28 ACCORHOTELS said yesterday it had entered exclusive talks to buy concierge service provider John Paul, as it pushes further into new hospitality services and beefs up its response to the challenges of Airbnb. Under the terms of the deal,...

Euro 2016 boots Puma back to the black

2016-07-28 GERMAN sporting goods company Puma reported a return to profit in the second quarter as its high visibility during the Euro 2016 football tournament lent it a sales tailwind. Sales swelled to 827 million euros (US$910 million) in the second...

Nintendo posts Q1 loss

2016-07-28 JAPAN’S Nintendo Co Ltd booked a quarterly operating loss on a sharply stronger yen and delayed the launch of an accessory for Pokemon GO, but hopes for long-term growth are running high on the mobile game’s success. First rolled out only three...

Oil prices fall to 3-month low

2016-07-28 OIL prices slid to fresh three-month lows yesterday as worries about a global oversupply resurface ahead of the release of US stockpiles data later in the day. With the US summer driving season – when demand peaks – drawing to a close investors...

Global stocks jump on Tokyo stimulus, UK growth

2016-07-28 GLOBAL shares mostly rallied yesterday after Tokyo launched a massive stimulus package with sentiment also cheered by accelerating economic growth in Britain and upbeat company results. Awaiting the US Federal Reserve’s interest rate decision...

IN-BRIEF

2016-07-28 Chinese smartphone maker rolls out laptop BEIJING: Chinese smartphone maker Xiaomi rolled out its first laptop yesterday, testing the waters in a market that has been eroded by premium productivity tablets. The laptop, called Mi Notebook Air,...

Britain ‘in position of economic strength’

2016-07-28 BRITAIN will enter EU exit talks in a strong position, finance minister Philip Hammond declared yesterday, after data revealed economic growth unexpectedly accelerated in the run-up to the Brexit referendum. Gross domestic product (GDP) grew 0.6...

Apple CEO touts future tech amid iPhone worries

2016-07-28 AS IPHONE sales declined for the second straight quarter, Apple CEO Tim Cook peeled back the curtain ever so slightly on its work in artificial intelligence and augmented reality, aiming to reassure investors that the company is ready to ride the...

Wednesday, 27 July 2016

Solar Impulse 2’s round-the-world tour flies the flag for solar power

2016-07-27 IN ITS round-the-world tour, the plane Solar Impulse 2 has become a showcase for Sun-powered technology, featuring innovations which could have a bright commercial future.Solar Impulse 2 is not the first solar-powered plane, but unlike its...

BP misses quarterly profit expectations

2016-07-27 BRITISH oil major BP reported a lower than expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below US$17 billion.The London-listed energy company said second-...

IN-BRIEF

2016-07-27 China wants anti-dumping probe on imported iron oreBEIJING: Chinese mining firms are calling for an anti-dumping probe into iron ore imported from Australia and Brazil, an industry association said yesterday. An application for an investigation...

Identity crisis spurs Yahoo’s demise

2016-07-27 WHEN senior Yahoo executives gathered at a San Jose hotel for a management retreat in the spring of 2006, there was no outward sign of a company in crisis.The Internet pioneer, not yet a teenager, had just finished the prior year with US$1.9...

Sterling slips to two-week low

2016-07-27 STERLING hit a two-week low on yesterday after a Bank of England policymaker suggested a batch of weak UK data had convinced him monetary policy should be eased immediately, having last week said he needed more evidence of economic weakness first....