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HONG KONG, China (AFP) – Hong Kong’s flagship airline Cathay Pacific said Monday it would cut 600 staff as part of a major overhaul to slash costs and repair its bottom line. The company posted its first annual net loss in eight years in March, citing intense competition as lower cost airlines, particularly from mainland China, eat into its market share. It pledged at the time to slash costs by 30 percent, saying that […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Monday, tracking gains on Wall Street last week as higher oil prices lifted energy shares. US stocks rose on Friday, recovering losses sustained earlier in the week on worries about President Donald Trump’s growth agenda in the wake of burgeoning investigations of the White House. The White House has been thrown into turmoil by a succession of stunning allegations against the president. James Comey, the former […]
BRUSSELS, Belgium (CCTV) — The European Commission (EC) imposed a fine of 110 million euros (122 million U.S. dollars) on Facebook on Thursday for providing misleading information about the WhatsApp takeover. The decision was announced during a press briefing in Brussels, which came six months after the European Union’s (EU) executive arm opened a case against Facebook in December. After investigation, the Commission now concluded that Facebook has denied its capability of matching user accounts […]
NEW YORK, United States (AFP) — A 1982 untitled Basquiat sold for $110.5 million in New York on Thursday, setting a new auction record for the United States artist in Sotheby’s flagship post-war and contemporary art sale, the auction house said. Jean-Michel Basquiat, the US wonderkid of Haitian and Puerto Rican descent, who died in 1988 of an overdose at the age of 27, has been catapulted into the rostrum of 20th century greats by the […]
by Miwa Suzuki Agence France-Presse TOKYO, Japan (AFP) — Japan has posted its longest economic expansion in over a decade, government data showed Thursday, marking a win for Tokyo’s growth bid even though its battle to conquer deflation is still far from won. The world’s number three economy grew 0.5 percent in the first quarter — or an annualized 2.2 percent. That was the fifth straight rise and up from a 0.3 percent expansion in the […]
GENEVA, Switzerland (AFP) — The largest flawless heart-shaped diamond has sold for nearly $15 million in Geneva Wednesday, breaking a world record in its category, auction house Christie’s said. The 92-carat diamond forms the center-piece of a necklace of cultured pearls. The sale price of around $14.99 million (around 13.45 million euros) is a world record for heart-shaped diamonds, Christie’s spokesperson Alexandra Kindermann told AFP. The piece was designed by Boehmer et Bassenge who have taken […]
By: Rod Delapaz, Eagle News Service USA, New York Bureau What does it take to be successful in business? Is “talent” really enough? What if you have a great idea that you think is worth millions? Is that your golden ticket to financial freedom? These are some of the many questions that small businesses and entrepreneurs have when starting a business venture. These uncertainties bring on the need for events like the Small Business Expo. […]
GENEVA, Switzerland (Reuters) — Two dazzling pink and blue pear-shaped diamonds have together sold for 57,118,000 Swiss Francs ($57,425,000) to a private buyer at Sotheby’s auction house on Tuesday (May 16). Sotheby’s said the Apollo and Artemis stones are “by far the most important pair of earrings ever offered at auction.” They were offered to buyers separately at the auction house’s Magnificent Jewels and Noble Jewels sale in Geneva, but were purchased by the same […]
HONG KONG, China (AFP) — Oil prices pressed on with fresh gains in Asian trade Tuesday, boosting energy firms, after Russia and Saudi Arabia indicated they could extend an output cut into next year. The world’s top two crude-producing nations raised the idea at the weekend, with a deal agreed between the Organization of the Petroleum Exporting Countries — of which Saudi Arabia is the key player — and Russia coming to an end in […]
by Roland Jackson Agence France Presse NEW YORK, United States (AFP) — Equity markets in Frankfurt, London and New York ended at fresh records Monday, lifted by a rally in oil prices that boosted energy shares and by upbeat German election news. World oil prices leapt after oil ministers from Saudi Arabia and Russia — the world’s two biggest oil producing nations — declared Sunday that they would consider extending an output cut into 2018. […]
TOKYO, Japan (AFP) – Troubled conglomerate Toshiba on Monday said it will delay reporting its annual earnings for the past fiscal year, but warned it is on track to book a net loss of 950 billion yen ($8.4 billion). The delay comes after one of Japan’s best-known companies twice postponed its nine-month earnings before releasing unaudited results last month. The delays have stirred fears that the huge conglomerate’s shares could be delisted from the Tokyo […]
BARI, Italy (AFP) – International Monetary Fund chief Christine Lagarde on Friday urged eurozone lenders to be “far more specific” in their commitment to a debt-relief package for Greece. The IMF has made a package easing Greece’s repayment burden a condition of its participation in a 86-billion-euro ($94-billion) bailout. But several eurozone governments are dragging their heels, insisting on more evidence of debt-plagued Greece delivering on reforms as a condition of green-lighting the third rescue […]
