LONDON, United Kingdom (AFP) – Brewer SABMiller’s board on Friday accepted a final takeover offer from rival Anheuser-Busch InBev, the company said in a statement, heralding what will be one of the world’s biggest ever takeovers. The Belgium-based AB InBev had raised its cash offer to 45 pounds per share from 44 pounds, in a revised proposal tabled after the value of the pound slumped following Britain’s vote to leave the European Union. SABMiller Chairman Jan du […]
Business
Sony warns over falling sales, clings to profit
TOKYO, Japan (AFP) — Sony on Friday cut its sales forecast for the current fiscal year, citing the impact of a surging yen and slower smartphone sales, as net profit also took a hit. But it managed to stay in the black as strong sales of its PlayStation 4 offset negative impacts from a sharp rise in the yen and deadly earthquakes in Japan earlier this year which temporarily shuttered its regional factories. Revenue in […]
Amazon revenue beats estimates; Alphabet posts strong revenue
Amazon.com Inc reported a better-than-expected rise in quarterly revenue on Thursday (July 28), powered by blockbuster growth in its cloud services unit. Amazon’s web retail sales in the United States and internationally, the core of the company’s business, also topped expectations, and it forecast revenue ahead of expectations for the third quarter. Shares of Amazon, the world’s biggest online merchant, were up 2 percent in after-hours trading. The Seattle-based company is riding a wave of […]
Apple says one billion iPhones have been sold
SAN FRANCISCO, United States (AFP) — Apple announced Wednesday the sale of its billionth iPhone, a milestone for the company as it seeks to keep momentum in a competitive smartphone market. Chief executive Tim Cook made the announcement at a staff meeting at the company’s California headquarters. “IPhone has become one of the most important, world-changing and successful products in history,” he said in a statement. “It’s become more than a constant companion. IPhone is […]
Smartphone sales drive Samsung Q2 profit
SEOUL, South Korea (AFP) — Solid sales of its flagship smartphone and an aggressive cost-cutting drive saw Samsung Electronics on Thursday post a better-than-expected gain in net profit for the second quarter. The giant South Korean conglomerate said its key mobile division enjoyed “substantial earnings improvement” in the April-June period led by expanded sales of its high-end Galaxy S7 and S7 Edge phones. Industry trackers estimate that the world’s largest smartphone maker has sold about […]
Fed leaves rates unchanged but says US economy improving
WASHINGTON, United States (AFP) by Douglas Gillison The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016. Policy makers had not been expected to raise rates, out of concern that a hike could stifle fragile growth. Their improving view on economic conditions left open the possibility of an increase in the benchmark federal funds rate, currently at 0.25-0.50 percent, […]
BP logs $1.4bn loss, draws line under oil disaster
LONDON, United Kingdom (AFP) – BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said Tuesday. The company posted a loss after taxation of $1.4 billion (1.3 billion euros) for the three months to June, which however compared with a far larger loss of $5.8 billion for the second quarter of 2015. BP also booked a net […]
Asian shares near nine-month peak
Asian shares held near nine-month highs on Monday (July 25) as worries over the impact of Britain’s Brexit vote eased, while the dollar was buoyed by a run of solid U.S. economic data. Policymakers from the Group of 20 countries agreed at the weekend to work to support global growth and better share the benefits of trade, in a weekend meeting dominated by the impact of Britain’s exit from Europe and fears of rising protectionism. […]
Verizon expected to buy Yahoo for $5 billion
Telecommunications giant Verizon is expected to announce a $5 billion dollar deal to purchase Yahoo. A source familiar with the matter says the announcement is expected to come before the start of trading in New York on July 25. This brings some clarity following months of uncertainty about Yahoo’s future, after the company in February said it was weighing strategic alternatives. Verizon was reported to be the front runner in the Yahoo auction. Bloomberg earlier […]
Yahoo appears near deal to sell core assets
by Sophie ESTIENNE SAN FRANCISCO, United States (AFP) — Yahoo was set to announced a deal to sell its core online assets, ending a 20-year run as an independent company for the internet pioneer. Multiple reports said Yahoo, which introduced many users around the world to the internet, would be selling its main assets for $4.8 billion to telecom giant Verizon. The New York Times said the deal would exclude the hefty Yahoo stakes in […]
China builds massive seaplane: state media
BEIJING, China (AFP) — China has completed production of the world’s largest amphibious aircraft, state media has said, the latest effort in the country’s program to wean itself off dependence on foreign aviation firms. The state-owned Aviation Industry Corporation of China (AVIC) unveiled the first of the new planes, dubbed the AG600, Saturday in the southern port city of Zhuhai, the official Xinhua news agency reported. The aircraft, which has a maximum range of 4,500 […]
Unilever spruces up profits but sees gloomy global outlook
THE HAGUE, Netherlands (AFP) – Dutch food and cosmetics giant Unilever posted Thursday a rise in sales for the first half of 2016, boosted by mens’ grooming products, but warned of “no sign of an improving global economy”. Total sales clocked in 2.6 percent higher at 26.3 billion euros ($29 billion) and net profit stood at 2.7 billion euros, up by 2 percent from 2015. Unilever said the first half of the year was marked by “a period […]
