Asian indexes closed mostly lower on Friday as investors parsed through corporate earnings in the region. Japan’s Nikkei 225 slid 0.6 percent, or 119.8 points, to close at 19,959.84. South Korea’s benchmark Kospi index declined 1.73 percent, or 42.25 points, to end at 2,400.99. In Australia, the S&P/ASX 200 fell 1.42 percent, or 82.192 points, […]
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Regular drinking can reduce risk of developing diabetes, study suggests
Drinking alcohol three to four times per week could significantly reduce a person’s chances of developing diabetes, according to a new study. Wine is tipped to be the most beneficial, followed by beer, but researchers warn that clear spirits, such as gin and vodka, could substantially increase a woman’s chances of succumbing to the condition. […]
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British Airways-owner IAG forecasts double-digit rise in full-year operating profit
British Airways owner IAG said on Friday that it expects operating profit for 2017 to show a double-digit percentage improvement following a strong second quarter, despite a massive power outage which grounded some flights. IAG said that operating profit for the six months to June 30 was 975 million euros, up 37.3 per cent compared […]
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Barclays suffers loss of $1.6 billion on Africa sale, CEO Staley says feels 'good about next chapter'
U.K. lender Barclays reported a net loss of £1.21 billion ($1.58 billion) for the first half of 2017, hit by the fall in sterling, a charge from the mis-selling of payment protection insurance and a loss from the sale of its Africa unit. Here are the key metrics: H1 profit before tax: £2.3 billion ($3.01 […]
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Credit Suisse reports 78% profit surge as assets under management hit record
Credit Suisse reported a strong rise in net income for its second quarter on Friday, adding that assets under management had hit new highs for the bank. Here are the key second-quarter metrics: Net profit: $312.6 million vs. expected $311.3 million, according to Thomson Reuters. Revenue: $5.36 billion vs. expected $5.35 billion, according to Thomson […]
Read moreEvery person’s first foray into the working world teaches them something about who they are: whether that’s who they want to be – or not want to be, interactions with new environments and learning key life skills. For Julio Bruno, the chief executive of global media and entertainment business Time Out Group, he got his […]
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UBS CEO Sergio Ermotti says bank is suffering from low volatility despite earnings beat
UBS, Switzerland’s biggest bank, posted an unexpected rise in net profit on Friday despite CEO Sergio Ermotti giving a cautious outlook and highlighting that low volatility had hurt certain sectors of the bank. Here are some of the key metrics: Q2 net profit: 1.174 billion Swiss francs ($1.21 billion), up 14 percent on a year […]
Read moreIt’s a match made in business heaven: Chinese technology companies hungry for expansion are diving into the less-developed African continent, where several countries are targeting double-digit economic growth. Iginio Gagliardone, a lecturer in media studies at the University of Witwatersrand in South Africa, told CNBC via telephone that the Middle Kingdom’s expansion into Africa has […]
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BNP Paribas delivers earnings beat with strong revenues from investment banking division
France’s largest bank BNP Paribas announced Friday that it delivered a top and bottom line beat in the second quarter, against consensus estimates, as its diversified banking model helped it to weather the recent trading activity downturn more successfully than many peers. Here are some of the key metrics: Q2 net income: 2.396 billion euros […]
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Amazon’s first foray into the Southeast Asian market appears to have hit a roadblock. The e-commerce giant launched its express, same-day delivery service, Prime Now, on Thursday morning in Singapore, but by that afternoon the service seemed to have become unusable. Many users in Singapore were unable to select a delivery window for their purchases […]
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