French coastguards are searching for the chief executive of a leading surfwear company after his boat was discovered washed ashore on a beach in the country’s south-west. Pierre Agnes, CEO of Boardriders, Quicksilver‘s parent company, set sail early on Tuesday but did not return. After the 54-year-old’s boat was discovered run aground in Hossegor, a […]
Read moreA pre-sale of Venezuela’s new “petro” cryptocurrency will begin on Feb. 20, President Nicolas Maduro said on Tuesday, a move that the government hopes will help pull the country out of a dire economic crisis. Critics have slammed the initiative as not only illegal but nothing more than a debt issuance by the government amid […]
Read moreNintendo reported earnings for its fiscal third quarter of 2017 on Wednesday that beat market expectations, with the gaming giant also upping the sales forecast for its flagship Switch console. The Japanese firm also increased its outlook for operating profit in the year ending March 2018. Nintendo reported the following results for the three months […]
Read moreEuropean stocks are set to open mixed on Wednesday morning, as investors await the release of economic data and corporate earnings. The FTSE 100 is expected to start 4 points lower at 7,592; while the DAX is seen up 40 points at 13,244 and the CAC 40 is set to open 10 points higher at […]
Read moreBritish Prime Minister Theresa May landed on Wednesday in China, where she will be seeking a free trade agreement ahead of the U.K. exiting the European Union trade bloc. Beijing knows that, and Chinese leaders are thought to be looking for something themselves: an endorsement of President Xi Jinping’s pet project, the Belt and Road […]
Read moreCurrency, United States Finance
Santander fourth-quarter net profit down 4 percent on US impairments
Banco Santander posted on Wednesday a 4 percent fall in fourth-quarter net profit from a year earlier after being hit by extraordinary impairments in its U.S. unit. Santander, the euro zone’s biggest bank in terms of market value, reported net profit of 1.54 billion euros ($1.92 billion) in the period October to December. Analysts had […]
Read moreKorea expert Victor Cha was widely expected to be nominated to be the next U.S. ambassador to Seoul. A few days after being told he was no longer in the running, the former George W. Bush advisor publicly criticized the White House’s North Korea strategy. In a Washington Post op-ed published Tuesday, Cha stressed the […]
Read moreChinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues. Leshi had reported a profit of 554.8 million yuan in 2016. It was once the main listed unit of LeEco […]
Read moreSouth Korea has uncovered cryptocurrency crimes worth 637.5 billion won ($594.35 million), which includes illegal foreign exchange trading, a statement released by the country’s customs service said on Wednesday. The statement said domestic investors bought 1.7 billion won worth of cryptocurrencies, which they sent to overseas partner companies through virtual wallets. The transfers were then […]
Read moreAsia ended 2017 less free than it began it. The Economist Intelligence Unit’s annual assessment of freedoms across 167 countries said Asia-Pacific had “experienced the biggest decline of any of our seven regions in 2017” after climbing up the rankings in recent years. In the research firm’s report released Wednesday, Asia scored 5.63 — lagging […]
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