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 […]
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Strong earthquake of magnitude 6.7 strikes off Turkey coast, two reported killed in Greece
A powerful earthquake of magnitude 6.7 killed two people when it struck near major Turkish and Greek tourist destinations inthe Aegean Sea on Friday, Turkish and Greek officials said. The quake, which struck at 1:31 a.m. (2231 GMT on Thursday), was located off the southwestern coastal city of Marmaris in the Mugla province, the USGS […]
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GOOD generals know that the next war will be fought with different weapons and tactics from the last. Similarly, financial regulators are right to worry that the next crisis may not resemble the credit crunch of 2007-08. The last crisis arose from the interaction between the market for mortgage-backed securities and the banking system. As […]
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“PRETTY close to a laughing stock.” That is Walter Shaub’s verdict on America’s standing in the world, at least from an ethics point of view, under President Donald Trump. Mr Shaub’s view counts: he stepped down this week as head of the Office of Government Ethics, a federal watchdog. He is leaving his job six […]
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WITH the defeat of Marine Le Pen in her bid for the French presidency, establishment politicians in rich countries breathed a sigh of relief. The fortunes of extremist candidates have faltered since the populist surge that put Donald Trump into the White House. But it is hard to be confident that this was populism’s high-water […]
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GROOT, a character from Disney’s film “Guardians of the Galaxy”, is usually mass-produced by the entertainment company as a small, collectable figurine and sold by retailers such as Toys “R” Us. But just before the release of the second film in the franchise earlier this year, Byambasuren Erdenejargal, a Mongolian enthusiast, noticed that people in […]
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IN THE litany of bosses’ gripes about Brazil’s inclement business climate, rigid labour laws vie for pride of place with its convoluted tax laws and its licensing rules (on everything from health and safety to protection of cultural heritage). No wonder: Brazil ranks a miserable 117th out of 138 countries on labour-market efficiency, according to […]
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ACCORDING to company lore, Yunnan Baiyao, a musty-smelling medical powder, played a vital role during the Long March. As China’s Communist troops fled from attacks in the 1930s, trekking thousands of miles to a new base, they spread its yellow granules on their wounds to stanch bleeding. To this day, instructions on the Yunnan Baiyao […]
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IT IS said that Travis Kalanick, who resigned as Uber’s boss last month, has been reading Shakespeare’s “Henry V”. Prince Hal’s transformation, from wastrel prince to sober monarch, is doubtless one he would like to emulate. But as a guide to the ride-hailing firm’s financial dilemma, “Macbeth” is the best play. This line especially resonates: […]
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THE most recent time Moses Kibet Biegon needed a quick loan was when his roof blew away. He got one from the Imarisha Savings and Credit Co-operative, in Kericho in western Kenya. Imarisha channels the savings of its 57,000 members into loans for school fees, business projects or, in Mr Biegon’s case, roof repairs. It […]
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