SINGAPORE, Singapore (AFP) — World oil prices rebounded in Asia Tuesday on bargain hunting but tremors from Britain’s shock vote last week to leave the European Union continue to weigh on sentiment. Financial markets are still reeling from Brexit’s fallout as investors sell riskier assets and flock to safe bets amid global economic uncertainty. Asian stock markets resumed their losses early Tuesday, extending another sharp sell-off in Europe and New York. At around 0330 GMT, US […]
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PepsiCo brings back aspartame as diet cola sales fizzle
NEW YORK, United States (AFP) — PepsiCo said Monday it is putting aspartame back into some diet beverages in the United States, just a year after pulling the artificial sweetener from its products over consumer concerns about safety. “Consumers want choice in diet colas, so we’re refreshing our US lineup to provide three options that meet differing needs and taste preferences,” a PepsiCo spokeswoman, Gina Anderson, said in an email to AFP. The move comes […]
Pound sinks but stocks bounce after Brexit vote
by Danny McCord HONG KONG, China (AFP) — The pound fell Monday to around 30-year lows but most Asian stock markets rebounded from hefty losses fuelled by Britain’s decision to leave the European Union, despite fears of months of uncertainty. Sterling plunged two percent in early Asian trading before paring losses as dealers rushed into safe assets, although Japan’s Nikkei stock index rallied. Britain’s finance minister George Osborne looked to reassure markets, saying the […]
Japan PM Abe instructs finmin to take FX steps as needed
Japanese Prime Minister Shinzo Abe on Monday (June 27) instructed Finance Minister Taro Aso and Deputy Bank of Japan Governor Hiroshi Nakaso take steps “if necessary’, in the wake of Britain’s historic vote to leave the European Union. Abe summoned Aso and Nakaso to an emergency meeting at the Prime Minister’s office to discuss how to deal with the market turbulence caused by Brexit. “I’d like to ask Minister (Taro) Aso to watch the currency […]
Asian stocks fall on early trade
Asian stocks fell and the British pound tumbled more than 2 percent in early trade on Monday (June 27) as markets struggled to shake off deep uncertainty sparked by Britain’s decision to leave the European Union. The worst of the turmoil seen on Friday (June 24), when global stock markets suffered their biggest decline in nearly five years, had eased, but sentiment remained weak and trading was volatile. Japan’s Nikkei however, rose 1.8 percent, a […]
BlackBerry sales fall, losses pile up
MONTREAL, Canada (AFP) — Blackberry continued bleeding red in the three months ending May 31, extending a two-year losing streak as the Canadian smartphone maker restructures, according to quarterly financials filed Thursday. The Waterloo, Ontario-based company posted a loss of US$670 million while revenues plunged to US$424 million — about two-thirds of last year’s take during the same period and below analysts’ estimates. Excluding hefty asset write-downs and restructuring charges, however, BlackBerry broke even in […]
Deutsche Bank to cut 3,000 jobs in Germany
BERLIN, Germany (AFP) — Deutsche Bank announced Thursday plans to cut 3,000 jobs and almost 200 bank branches throughout Germany, part of a vast overhaul following big losses and scandals at Germany’s biggest lender. “It is a painful decision to reduce jobs. Unfortunately, this step cannot be avoided if Deutsche Bank is to remain competitive in the long term,” board member Christian Sewing said in a statement. Almost 3,000 jobs will be cut in the […]
Asian traders on edge ahead of Britain EU vote
HONG KONG, China (AFP) — Investors trod a cautious line Wednesday, a day before Britain’s high-stakes referendum on its future in the European Union, with the head of the Federal Reserve warning a vote to leave could hammer world markets. After a three-day rally fuelled by hopes the country will stay in the economic bloc, analysts said traders were taking a step back to see what happens in Thursday’s poll. While bookmakers say there is […]
Facebook signs celebrities to boost live video
NEW YORK — United States (AFP) — Facebook said Tuesday it has signed a series of deals to pay celebrities and media companies to produce content for its new live video streaming service. The test program calls for “a relatively small number partners that includes a broad range of content types from regions around the world” receiving “temporary financial support to encourage experimentation with this new format,” Facebook said in a statement. The Wall Street […]
EU agrees anti-tax evasion deal
BRUSSELS, Belgium (AFP) – The European Union agreed a raft of anti-tax evasion measures Tuesday that would make it harder for multinationals to shift profits to countries with lower taxes, but critics said they were too watered down. The proposals were agreed on provisionally by the EU’s 28 finance ministers on Friday, following major revelations in the Panama Papers and LuxLeaks scandals of tax schemes enjoyed by big banks, companies and wealthy individuals. Final holdouts […]
China’s Tencent to buy Finnish game-maker Supercell for $8.6bn
HONG KONG, China (AFP) – Chinese Internet giant Tencent on Tuesday announced it had agreed to buy Finnish game-maker Supercell Oy, creator of “Clash of Clans”, from Japanese mobile giant SoftBank for $8.6 billion. “The board is pleased to announce that on 21 June 2016, the consortium…has agreed to acquire a majority equity interest in Supercell,” a Tencent statement filed to the Hong Kong stock exchange said. Supercell is the creator of hugely popular mobile games […]
Nespresso to bring Cuban coffee to US
NEW YORK, United States (AFP) — Nestle-owned Nespresso announced Monday it will reintroduce Cuban coffee to the US for the first time in more than 50 years following the easing of United States sanctions on Cuba. The Swiss food giant’s company plans to sell Cuban coffee under its individual-capsule Nespresso brand, initially as a limited edition, starting in several months. “Nespresso is thrilled to be the first to bring this rare coffee to the US, […]
