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By Jennifer Ablan and Stephen Nellis | NEW YORK/SAN FRANCISCO NEW YORK/SAN FRANCISCO Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings and big investment plans. U.S. President Donald Trump said on Thursday in an interview […]

WASHINGTON President Donald Trump complained on Thursday that the United States was being unfairly treated in the Paris Climate Agreement and told Reuters he would announce a decision in about two weeks on whether Washington would remain in the accord. The Republican Trump, elected in November, had vowed during his campaign to withdraw from the Paris accord within 100 days of becoming president, part of a broader […]

ISLAMABAD: The six departments tasked with deputing a representative each to the joint investigation team (JIT) that will probe the assets of Prime Minister Nawaz Sharif and his family have submitted lists of proposed names to the Supreme Court. The apex court, in its April 20 judgement, had given the Federal Investigation Agency (FIA), National Accountability Bureau (NAB), Securities and Exchange Commission of Pakistan (SECP), State Bank […]

By Julia Love and Rishika Sadam Google parent Alphabet Inc (GOOGL.O) posted a surge in profit and revenue on Thursday as its core advertising business continued to grow at an extraordinary rate and problems such as an advertiser boycott of YouTube had little impact. Alphabet’s profit beat Wall Street estimates and rose 29 percent to $5.43 billion, a performance that analysts called exceptional for a company so […]

Alphabet, Google’s parent company, reported a 22 per cent surge in sales, despite fears that marketers were withdrawing advertising dollars from its YouTube video site because of worries about ads appearing next to extremist content. The Silicon Valley company’s shares, up 21 per cent in the past year, rose 4 per cent to $928.30 in after-hours trading in New York. Sundar Pichai, Google chief executive, said the […]

Growth in cable and internet customers and the box office strength of films, including the latest instalment in the Fifty Shades of Grey series, powered better than expected quarterly revenue and profit at Comcast. Net income at the largest US cable group, which owns the NBC TV networks and the Universal Pictures film studio, jumped 20 per cent to $2.6bn, or 53 cents a share, in the […]

Betting big on Amazon and selling the shares of traditional retailers has been a blockbuster trade for some time. Now, a small but growing number of hedge funds are wagering that the next leg of the woes afflicting bricks and mortar retailers in the US will unfold dramatically for those shopping mall owners who have largely so far been considered immune. The level of bets against some […]

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Deutsche Bank must set its sights higher, its chief executive said on Thursday, after its core investment banking businesses were outpaced by US rivals in the first quarter of the year. In the three months to March, Germany’s biggest bank managed a net profit of €575m, more than double the €236m it posted in the same period a year earlier, and ahead of analysts’ expectations of €522m. […]

Saudi Arabia has imposed limits on the ownership of prepaid SIM cards for citizens and foreigners, restrictions that the regulator said aim to prevent the use of cards in carrying out militant attacks in the kingdom. Foreign residents, who make up more than a third of the population, are now limited to two prepaid SIM cards across all operators, according to two people familiar with the matter. […]

A Malta magistrate is investigating explosive claims of money laundering and corruption that have put New Zealand in the middle of a global cash trail from the family of Azerbaijan president Ilham Aliyev. President Aliyev’s daughter, Leyla Aliyeva, is alleged to have channelled more than $1.5 million to senior figures of the Malta government, including Prime Minister Joseph Muscat’s wife. These include alleged payments to Panama companies […]

Netflix saw a flood of demand for a €1.3bn bond sale on Wednesday, as supply-starved junk debt investors put aside concerns around the US streaming service’s substantial cash burn to get a piece of its debut euro deal. The sub investment-grade rated company announced the deal on Monday as a €1bn 10-year bond to help fund its international expansion and planned shift to developing more original content. […]

Citigroup Inc has received an investment banking licence from Saudi Arabia’s Capital Market Authority more than 10 years after exiting the kingdom. The CMA board authorised Citigroup Saudi Arabia “to conduct dealing as underwriter, arranging and advising in securities business activities,” according to statement posted on the regulator’s website. The firm lost its key banking licence when it sold its stake in Samba Financial Group in 2004. […]

PepsiCo Inc reported higher-than-expected quarterly revenue and profit as the company benefited from demand for its healthier drinks and snacks and kept a tight leash on costs. The company’s shares, which had risen 9.1 percent this year, were off 1 percent in premarket trading on Wednesday. PepsiCo and other processed-food makers are investing heavily to meet consumers’ increasing preference for healthier snacks such as unsweetened tea and […]

26 April 2017 Mumbai, INDIA – Etihad Airways, the national airline of the United Arab Emirates, and strategic partner Jet Airways, India’s full-service premium international carrier, have signed a ground breaking agreement with the Government of Maharashtra to promote tourism to the western Indian state. The partnership will enable both airlines to capitalise on their strong links with Maharashtra and further propel domestic and international arrivals into […]

Credit Suisse has launched a SFr4bn ($4bn) share issue and said it will abandon plans to list its Swiss division in an attempt to draw a line under capital fears that have dogged the bank since chief executive Tidjane Thiam took over two years ago.  Investors expected the bank’s quarterly earnings on Wednesday to feature only limited news on its much-anticipated capital plans since it is not […]

Wednesday 03:00 BST Overview Momentum from a buoyant Wall Street carried over into Asia trading as equities rallied while bonds and oil prices continued to slide. Hot topic Stock markets across the region took their cues from Wall Street, where on Tuesday the S&P 500 neared a record closing high and the tech-focused Nasdaq closed above 6,000 for the first time. In Sydney, the S&P/ASX 200 was […]

TOKYO McDonald’s Corp (MCD.N) has put on hold plans to sell shares in its Japan unit, which recently returned to profit for the first time in three years after a series of food scandals shook consumer confidence in the chain. The fast food giant has “made the decision to not proceed with the transaction at this time,” Chief Finance Officer Kevin M. Ozan told investors on a […]

Ontario capital Toronto. The province is hosting the first major universal basic income test in North America in 30 years.Image: carlo allegri/getty images By Patrick Kulp2017-04-26 01:15:48 UTC Thousands of randomly chosen Canadians may soon receive free checks in the mail. The province of Ontario just announced that a major trial run of a universal basic income program could begin as early as this summer. Universal basic […]

86 percent of the total attacks experienced by Australia during a 12-month period originated from within the country’s borders, a report from NTT Security has found. The United States was the source of 9 percent of the total attacks, while Germany accounted for 1 percent. According to the NTT Security Global Threat Intelligence Report 2017, remote administration was the top service used in attacks against Australia, with […]

Deckers Outdoor Corp (DECK.N) said on Tuesday it was exploring strategic alternatives, including a sale of the company, a month after an activist investor urged the apparel and accessories maker to sell itself. Deckers, the owner of the UGG brand of boots and apparel, said it had retained Moelis & Co LLC as financial adviser. Shares of Goleta, California-based Deckers rose 6.5 percent to $62.53 in trading […]

The public should be able to freely access the names of the people behind the ownership of assets and bank accounts in order to boost transparency and stop secret shell companies being used for criminal activity. This is the key contention of a host of submissions to Treasury as part of the federal government’s plans to increase transparency of the beneficial ownership of companies following the Panama Papers revelations. Play […]

Warnings were that the first quarter of 2017 would be about as bad financially as the final two of 2016 for newspaper organizations. That proved to be the case today as Gannett kicked off the reporting season for publicly traded companies. Acquisitions led to some revenue growth. But comparing same properties: Print advertising revenues were down 17.7 percent compared to the first quarter of 2016. Circulation revenues […]

There is no love lost between French luxury house LVMH and its smaller rival Hermès despite the financial ties between them. In 2011, then-Hermès chief executive Patrick Thomas reacted with absolute fury when he learnt that LVMH had used derivatives to build up a stake in the company. In a notoriously crude statement, he said: “If you want to seduce a beautiful woman, you don’t start by […]

AT&T was set to acquire Straight Path — and its valuable portfolio of mmWave spectrum — in a deal valued at $1.6 billion, but Straight Path announced Tuesday that it has received a “Superior Proposal” from another multi-national telecommunications company. The new bidder made an “unsolicited offer” to acquire all issued and outstanding shares of Straight Path for $104.64 a share, in an all-stock transaction valued at […]

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