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by Ben Perry Agence France Presse NEW YORK, United States (AFP) — Global stocks mostly fell Monday and the euro tumbled on unease over the German election outcome and the increasingly hostile war of words between Washington and Pyongyang over North Korea’s nuclear program. Investors worried about looming political infighting in Germany after an election that won Angela Merkel a fourth term as chancellor, but also gave a hard-right opposition party parliamentary seats for the […]
ZURICH, Switzerland (AFP) — Swiss-Swedish engineering group ABB agreed Monday to buy General Electrics’ industrial solutions unit for $2.6 billion euros (2.1 billion euros) in a move to boost its business in the United States. “GE’s global electrification solutions business, GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market,” ABB said in a statement. GE Industrial Solutions is […]
The 2017 Asia CEO Awards, the roundtable of Asia’s industry movers and shakers, has shortlisted its official nominees. One of the categories, the ADEC Innovations Green Company of the Year award, shall go to the most deserving company for the fourth time on October 17, 2017, at the Marriott Grand Ballroom. The organization that exemplifies strong leadership and commitment in sustainability and environmental protection shall be given the award and will join the ranks of […]
BEIJING, China (AFP) — China on Friday lashed out at the decision by Standard & Poor’s to downgrade the country’s credit rating, calling the warning against ballooning debt “mistaken” and based on “cliches” about its economy. The agency slashed China from AA-minus to A-plus on Thursday, a move that followed a similar decision in May by Moody’s stemming from concerns that the world’s second largest economy is increasingly overleveraged. “Standard & Poor’s downgrade of China’s […]
TOKYO, Japan (AFP) — Toshiba tumbled Thursday after saying it would sell its memory chip business for around $18 billion, as its US partner vowed to keep fighting to block a deal seen as crucial to the Japanese industrial conglomerate’s survival. The embattled stock fell as much as 5.39 percent to 298 yen, before it recovered to 306 yen, still down 2.85 percent. Late Wednesday, Toshiba announced the sale to a group led by US […]
TAIPEI, Taiwan (AFP) — Taiwan’s struggling smartphone maker HTC said Thursday it was selling part of its smartphone business to US technology giant Google for $1.1 billion. The deal includes intellectual property licensing and half of its research staff, or around 2,000 people, and is expected to be completed in early 2018 pending regulatory approval, HTC said. “For Google, the deal will further strengthen its investment in and committment to smartphones and its hardware business… […]
TOKYO, Japan (AFP) – Tokyo stocks opened higher on Thursday as exporters received a boost from a weaker yen against the dollar after the US Federal Reserve kept alive the chance of a December interest rate hike. The bellwether Nikkei 225 index rose 0.80 percent, or 162.10 points, to 20,472.56 in early trade while the broader Topix index was up 0.70 percent, or 11.62 points, at 1,679.54. The US central bank concluded a two-day meeting […]
BEIJING, China (CCTV) — The central parity rate of the Chinese yuan weakened by 140 basis points to 6.5670 against the U.S. dollar on Wednesday, the lowest since the start of this month, according to the China Foreign Exchange Trade System. The midpoint of the Chinese yuan against the greenback is slipping to a two-week low of 6.5530 on Tuesday. Analysts said the fast appreciation of the yuan since late June drew a lot of […]
LONDON, England (AFP) — Music piracy is on the increase worldwide, with 40 percent of users are accessing unlicensed music, up from 35 percent last year, the global recorded music industry group IFPI said. Internet search engines are making piracy easier, the International Federation of the Phonographic Industry (IFPI) said in a report on Tuesday, calling for government action. The increase in piracy follows a slump in recent years when policing of the digital music landscape […]
by Estelle Peard Agence France-Presse FRANKFURT am Main, Germany (AFP) — Traditional heavyweights Fiat, Peugeot and Volvo may have shunned this year’s Frankfurt auto show (IAA) or Internationale Automobil Ausstellung, but for Chinese and Taiwanese carmakers looking to make inroads in Europe the chance to step into the limelight was not to be missed. Two years after becoming a surprise hit at the last IAA with an electric sedan concept car to rival Tesla’s Model […]
NEW YORK, USA (Reuters) — Toys ‘R’ Us Inc, the largest United States toy store chain, filed for bankruptcy protection on Monday (September 19), the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. Toys ‘R’ Us said it received a commitment for over $3 billion (2.22 billion pounds) in debtor-in-possession financing from lenders including a JPMorgan-led bank syndicate and certain of the company’s existing lenders. […]
TOKYO, Japan (AFP) — Tokyo’s benchmark Nikkei index rose past 20,000 for the first time in six weeks on Tuesday after Wall Street edged up to a new record close and a weak yen lifted exporters. The bellwether Nikkei 225 index climbed 1.12 percent, or 223.25 points, to 20,132.75 in early trade, breaching the barrier of 20,000 for the first time since early August. The broader Topix index was up 1.01 percent, or 16.58 points, […]
