South Korea is in no hurry to set up an advanced missile defense system designed to protect its shores from North Korean aggression despite fears of another intercontinental ballistic missile attack from its northern neighbor. In June, South Korean President Moon Jae-in suspended further installation of the $923 million Terminal High Altitude Area Defense, or […]
Read moreHyundai Motor’s bleak results stretched into a 14th straight quarter as political headwinds continued to drag down sales in China, its biggest market, and higher incentives failed to boost business in the United States. The South Korean firm — which together with affiliate Kia Motors is the world’s No.5 automaker together — has been betting […]
Read moreDaimler’s second-quarter operating profit rose 15 percent, below expectations, despite booming sales of the new Mercedes-Benz cars helping to lift margins in the autos business to 10.2 percent. Daimler’s group earnings before interest and taxes rose to 3.74 billion euros in the second-quarter, below the 3.807 billion euros seen in a Reuters poll of banks […]
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World's largest cement maker posts second-quarter earnings beat following Syria scandal
LafargeHolcim posted slightly better-than-expected second-quarter results on Wednesday as the world’s biggest cement maker sought to put a scandal over payments to armed groups in Syria behind it. The Franco-Swiss company reported adjusted operating profit of 1.735 billion Swiss francs ($1.82 billion) for the three months ended June 30, slightly ahead of the average estimate […]
Read moreThe key to building a successful start-up is understanding the value of time, according to 29-year-old Kavin Bharti Mittal, who is founder and CEO of Indian messaging platform Hike Messenger. Mittal started Hike in 2012 as an instant messaging app that has now evolved into a platform offering various services, including payments and news. The […]
Read moreChina will turn all big companies owned by the central government into limited liability firms or joint-stock firms by the end of 2017, as Beijing looks to make its state-owned giants more nimble as part of broader reforms of the capital markets. The cabinet said on Wednesday that the restructuring will help the firms to […]
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Venezuela enters crisis week as vote for new constituent assembly approaches
Venezuela’s President Nicolas Maduro is pressing ahead with a controversial election to form a new government that opponents and analysts fear will damage the country’s democracy and allow him to cement his leadership. The election for the National Constituent Assembly (ANC) will be held on Sunday, July 30, and opposition leaders are planning a week […]
Read moreU.S.-based Global Eagle Entertainment said a $416 million investment pact made last year with a unit of Chinese conglomerate HNA Group has been called off after failing to receive regulatory approval. Global Eagle, in a securities filing late on Tuesday, said the companies did not secure approval from the Committee on Foreign Investment in the […]
Read moreAfter battling stresses from a floundering oil and gas sector over the past year, banks in one of the world’s financial capitals are seeing a bright spot emerge: a booming property market. The increase in home buying activity in Singapore has boosted demand for loans, recent data indicated. And the banks’ upcoming second-quarter financial reports […]
Read moreChina’s securities regulator said Wednesday it will regulate and expand access to capital markets for all types of investors, while also encouraging more long-term institutional participation. The China Securities Regulatory Commissions said in a post on its website that it will maintain “normalization” of initial public offerings, improve the delisting mechanism and steadily expand the […]
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