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NEW YORK, United States (AFP) — Pandora, which dominates internet radio but has seen its model eclipsed by music streaming companies such as Spotify, said Monday it was open to buyers after securing a fresh $150 million. Jim Feuille, the chairman of Pandora’s board who a decade earlier pushed the model of free access, stepped down with the announcement that private equity firm KKR was injecting $150 million. “Having secured a significant financial commitment from […]
President Rodrigo “Rody” Duterte poses with Taiwanese investors in a photo opportunity at the President’s Hall in Malacañang on Monday, May 8, 2017. Joining him are the officials of the Idef Group.
BEIJING, China (AFP) — Chinese internet giant Tencent said Saturday its messaging app WeChat had been blocked in Russia, adding it was in touch with authorities to resolve the issue. WeChat, known as Weixin in China, is the world’s most popular messaging service, with 889 million global users by the end of 2016. As well as messaging, it also offers payment, ride-hailing and other services, and Tencent has ambitions to spread the app beyond China. […]
TOKYO, Japan (AFP) — Tokyo’s benchmark stock index rose 1.35 percent at the start Monday after pro-European centrist Emmanuel Macron swept his far-right rival Marine Le Pen in the French presidential election. The Nikkei 225 added 263.31 points to sit at 19,709.01, while the broader Topix index of all first-section shares climbed 1.22 percent, or 18.85 points, to 1,569.15. Markets breathed a sigh of relief as the vote result effectively eliminates any risk of France […]
WASHINGTON, United States (AFP) — The tablet craze from a few years ago showed more signs of fading this year, with most major producers reporting sales declines, market surveys showed Thursday. IDC reported an 8.5 percent drop in global tablet shipments to 36.2 million. This was the 10th straight quarterly decline for tablets, IDC said. A separate survey by Strategy Analytics pegged the decline for the quarter at 10 percent. IDC analyst Ryan Reith said […]
While the Philippines has exceeded all expectations to become a global center of growth, there are “deep concerns about the Philippine economy.” “Unless new growth industries can be found and developed immediately, the Philippine economic miracle could be finished in the next three years,” organizers of the Asia CEO Awards said. These concerns include populist politicians who have suddenly burst onto the world stage. “Blaming ‘foreigners’ for job losses and everything else, they are frothing-at-the-mouth […]
HONG KONG, China (AFP) — HSBC said on Thursday that pre-tax profit fell 19 percent in the first three months of the year but the bank’s chief described them as “a good set of results” after a turbulent 2016. The London-based giant has been on a recovery drive over the past two years aiming to slash costs with measures including laying off tens of thousands of staff and slimming down its business. It blamed the […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Facebook on Wednesday reported that its quarterly profit surged as its ranks of monthly users closed in on two billion, but warned of rising expenses and slowing revenue growth. The leading social network said it made a profit of $3.06 billion on $8.03 billion in revenue in the first three months of this year, posting increases of 76 percent and 49 percent, respectively, compared […]
SAN FRANCISCO, United States (AFP) — Apple on Tuesday reported a rise in quarterly profits but its shares took a hit from slow-growing revenues and weaker iPhone sales ahead of a 10-year-anniversary model on the horizon. Apple said that its profit climbed 4.9 percent to slightly more than $11 billion on revenue rising 4.6 percent to $52.9 billion in the quarterly that ended April 1. Shares of the California-based company were down nearly two percent […]
by Ali Khalil Agence France Presse DUBAI, United Arab Emirates — Oil-exporting Arab states of the Gulf are heading “in the right direction” to plug budgetary gaps thanks to fiscal reforms, but more change is still necessary, the International Monetary Fund said Tuesday. “If they continue on this path in the next three to five years, the level of deficit will be less than 2 percent” of gross domestic product, IMF regional chief Jihad Azour told […]
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low 1.50 percent Tuesday after annual inflation moved back into its target range, as it treads water ahead of the federal budget next week. The Reserve Bank of Australia slashed 300 basis points from borrowing costs between November 2011 and August last year to support non-resources industries as the economy transitions out of a mining investment boom. It has remained on […]
TOKYO, Japan (AFP) — Tokyo stocks rose Tuesday morning ahead of a string of holidays in Japan, with a weak yen boosting exporters while Donald Trump looked to ease tensions with North Korea by saying he would be “honored” to meet Kim Jong-Un. Trump said he would be hold talks with Kim under the right conditions, dialling back earlier threats of military action against the regime in Pyongyang. Tokyo’s benchmark Nikkei 225 index edged up […]
