French car parts maker Valeo said first-half profit rose 20 percent as demand for LED lighting and fuel-efficient engine systems helped sales to outpace global auto markets. Net income rose to 506 million euros ($588 million) from 422 million a year earlier, the company said in a statement on Thursday. Revenue increased 16 percent to […]
Read moreCurrency, United States Finance
Philips Lighting earnings ahead on better LED, home lighting margins
Philips Lighting, the world’s largest maker of lights, on Friday reported a better-than-expected rise in second-quarter core earnings, as margin improvements at its LED and home lighting businesses offset falling sales due to the ongoing decline of its traditional lamp business. The company’s adjusted earnings before interest and amortization (EBITA) rose 8 percent to 174 […]
Read moreBlake Irving knows how hard it is to change first impressions. More than four years into his tenure as the CEO of web domain registrar and cloud platform GoDaddy, Irving still encounters men who associate the company with risqué Super Bowl ads featuring half-naked women. “I’ll be talking to folks, even in Asia, who will […]
Read moreRipple, a San Francisco-based digital currency start-up, recorded $30 million worth of transactions in the second quarter of 2017 as 25 new exchanges listed its token, XRP. XRP finished the quarter priced at $0.263, up by 1,159 percent from the previous quarter and 3,977 percent higher year-to-date. It is currently listed on 30 exchanges. The […]
Read moreNorth Korea’s economy grew at its fastest pace in 17 years in 2016, South Korea’s central bank said on Friday, despite the isolated country facing international sanctions aimed at curbing its defiant pursuit of nuclear weapons. Gross domestic product (GDP) in North Korea last year rose 3.9 percent from the previous year when the economy […]
Read moreAs a presidential candidate, Donald Trump turned China’s currency into a campaign issue, but Republican political stumbles are now strengthening the yuan. Analysts said the newly resurgent Chinese currency, which has been slowly trending higher since May, was all about the dollar’s sudden weakness. “Just looking at a chart of the pair might lead one […]
Read moreThe recent outbreak of hawkishness by policymakers in the western world does not automatically mean that interest rates need to rise in Australia, a top central banker said on Friday. Canada’s central bank increased interest rates to 0.75 percent this month while the U.S. Federal Reserve has raised rates four times over the past two […]
Read morePresident Donald Trump’s lawyers are looking for ways to hit back at special counsel Robert Mueller’s Russia investigation, media outlets reported on Thursday. Trump’s legal team has been probing the backgrounds of investigators on the case as well as checking for any potential conflicts of interest that could foil Mueller’s inquiry, the Washington Post and […]
Read moreSouth Korea’s LG Chemical is expected to be the sole supplier of batteries for Apple’s iPhone 9, which is due next year, according to a report in The Korea Economic Daily. The report is notable because Apple is known for a “multi-vendor strategy” for its components. Citing industry insiders, The Korea Economic Daily said LG […]
Read moreSouth Korea’s proposed military talks aimed at easing tensions between the two Koreas planned for Friday failed to take place after North Korea snubbed a call by the South, a setback for new President Moon Jae-in’s hope of engaging Pyongyang in dialogue. South Korea’s Defense Ministry was expected to issue a statement at 0130 GMT […]
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