Ocado shares have surged more than 40 percent after the U.K.-based online retailer signed an exclusive deal to provide its grocery delivery service to U.S. retailer Kroger. Kroger, which had sales of $122 billion in its last fiscal year, will take a 5 percent stake in the British online delivery firm as part of the […]
Read moreCurrency, United States Finance
Maersk shares sink as first quarter profit disappoints, warns on trade risks
A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world’s biggest container shipper sharply lower. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the […]
Read more
FEW banks can match the quaint serenity of Banco Delta Asia’s headquarters in Macau. Housed in a pastel-yellow colonial building opposite a 16th-century church, its entrance is flanked by tall vases, depicting sampan gliding between karst hills. In the tiled square outside, men laze under a banyan tree and an elderly woman peels a boiled […]
Read moreCurrency, United States Finance
Merkel says the EU is now ready to discuss cutting trade tariffs with Trump — but with some caveats
Germany’s Chancellor Angela Merkel has signaled that the European Union is willing to discuss reducing trade tariffs with the U.S., but only if the measures are reciprocal. Merkel also added that those discussions would only happen if the U.S. ensured the EU was permanently exempted from import tariffs on metals that President Donald Trump announced […]
Read moreThe process of taking an idea from inception to implementation in the tech space is easier than some might think, according to the creator of Google Photos. Speaking to CNBC’s Matthew Taylor on Thursday, Vice President of Product at Google Anil Sabharwal said it’s “really a very simple formula” to bring ideas to life. “What […]
Read moreTencent shares in Hong Kong surged over 5 percent Thursday after reporting earnings that topped analyst expectations. The Chinese technology giant saw its market capitalization, or value, rise over $22 billion as shares traded at 416.4 Hong Kong dollars ($53) during afternoon trade. At the open, Tencent shares were at 424 Hong Kong dollars, but […]
Read moreIndia, bolstered by recent peace signals from North Korea, is moving to strengthen ties with the reclusive regime. Indian Minister of State for External Affairs VK Singh arrived in Pyongyang with a delegation of officials on Tuesday for a two-day stay, meeting with a host of senior officials such as Foreign Minister Ri Yong Ho […]
Read moreDays after securing a stunning election victory, Malaysian Prime Minister Mahathir Mohamad’s government has delivered a potentially risky fiscal maneuver by replacing the goods and service tax (GST) with a sales and service duty. The Ministry of Finance said this week that it will lower GST to zero percent from June 1 and reintroduce a […]
Read moreGoogle’s YouTube said on Wednesday it will launch a new music streaming service, YouTube Music, next week and unveil soon a premium service that will charge more for its original shows. YouTube Music, which will be launched on May 22, comes with extra features like personalized playlists based on individual’s YouTube history and other usage […]
Read moreCurrency, United States Finance
European markets seen mixed amid political risk; US-China trade talks to resume
European markets are set to open mixed Thursday morning, as investors continue to monitor corporate earnings and political risk. The FTSE 100 is seen down around 7 points at 7,727, the CAC is expected to open 8 points higher at 5,574 while the DAX is poised to start up 17 points at 13,006, according to […]
Read more