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TOKYO, Japan (AFP) — Toyota said Friday it would discuss strengthening its partnership with Mazda as reports said they were close to a deal on a capital tie-up and building a $1.6 billion factory in the United States. The move comes as the Japanese auto industry is facing uncertainty over President Donald Trump’s drive to support US firms over foreign imports. He had earlier strongly criticized Toyota over its ongoing project to build a new […]
by Isabel Malsang and Solange Uwimana Agence France-Presse PARIS, France (AFP) — To check the beehives he has set up on the roof of the sprawling Monnaie de Paris on the banks of the River Seine, Audric de Campeau slips on a harness over tan-colored trousers. The beekeeper then hooks his leg harness to a metal cable anchored to the roof’s edge, running the length of the entire structure. “It’s not dangerous, but my insurance […]
HONGKONG, China (AFP) — Asian markets paused for breath Thursday after Wall Street smashed through 22,000 for the first time, with regional traders focused on fresh clues on the health of the United States economy. Strong Apple earnings propelled the Dow above the barrier to mark its sixth straight record close — but the tech-heavy Nasdaq closed marginally lower. Tokyo ended a two-day rally to sit 0.4 percent lower by the break, with several tech […]
Philippine electronics manufacturer Cirtek Electronics Corp. said Tuesday it had bought United States technology firm Quintel for $77 million, the latest in a trend of local companies acquiring foreign businesses. The purchase–fuelled by one of Asia’s fastest-growing economies—reveals the latest trend of Filipino companies embarking in recent years on global expansion plans that analysts say are the biggest ever seen from the Philippines. Cirtek chief financial officer Tony Buyawe said the acquisition of the Silicon […]
TOKYO, Japan (AFP) — Japanese vehicle maker Honda on Tuesday said net profit for the second quarter rose by double digits boosted by strong motorcycle sales, revising up its full-year forecast. The Tokyo-based company said “solid sales of two-wheel vehicles in Asia and cost reduction efforts” contributed to increased profits. Motorcycle sales volume grew in India and Vietnam, Honda said, while four-wheel vehicle sales volume increased in Japan and China but declined in North America. […]
NEW YORK, United States (AFP) — Spotify said Monday that it had 60 million paying subscribers, expanding its lead in the fast-growing world of music streaming. The Swedish company has more than double the base of nearest competitor Apple Music, which in early June said it had 27 million subscribers. Apple Music, however, achieved its growth rapidly as it was launched only two years ago by the tech giant. Spotify — started in 2008 and […]
HONGKONG, China (AFP) — HSBC said profits were up Monday in the first half of the year in what it called an “excellent” result after a turbulent 2016. The Asia-focused giant has been on a recovery drive over the past two years to streamline the business and slash costs, and has laid off tens of thousands of staff. Pre-tax profit for the six months to June rose five percent to $10.2 billion compared with $9.7 […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Monday as the yen firmed after below-expectation United States economic growth data. The benchmark Nikkei 225 index slipped 0.22 percent, or 44.45 points, to 19,915.39 in the first few minutes while the Topix index of all first-section issues was down 0.25 percent, or 4.07 points, at 1,617.15. © Agence France-Presse
SHANGHAI, China (AFP) — United States coffee chain Starbucks has announced it will take full control of its mainland China outlets in a $1.3 billion deal, the largest single acquisition in the company’s history. It will buy the remaining 50 percent of its East China joint venture from Taiwan’s food and beverage giant Uni-President, according to a company statement issued Thursday. Starbucks will gain full control of 1,300 stores in 25 cities, including commercial hub […]
HONG KONG, China (AFP) — Asia markets tumbled Friday to end two days of gains as traders digested a host of disappointing corporate results and a fall in United States technology stocks dented optimism. Despite yet another Dow Jones record Thursday, Tokyo, Hong Kong and Shanghai were all down Friday, with sharp falls recorded in Seoul and Sydney. The tech-heavy Nasdaq’s streak of all-time high closes ended Thursday with Apple, Google-parent Alphabet and Netflix shares […]
PARIS, France (AFP) — French oil company Total said Thursday underlying profits gushed higher in the second quarter thanks to a recovery in the price of oil, with the company also benefitting from increased output. The firm’s measure of adjusted profits that excludes exceptional items climbed 14 percent from the same period last year to $2.5 billion ($2.1 billion euros). That beat the consensus forecast of analysts surveyed by financial data firm Factset, who were […]
HONG KONG, China (AFP) — Major Asian markets gained Thursday but the dollar struggled after the previous day’s losses when the Federal Reserve’s tepid inflation outlook fueled speculation it will hold off further United States rate hikes this year. Regional traders tracked fresh Wall Street records on optimism about corporate earnings as a host of big names disclosed results Tokyo, Hong Kong and Sydney all rose while Seoul was boosted by Samsung Electronics forecast-beating, record-breaking […]
