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Google has until August 31 to reply to EU antitrust charges

Google has until August 31 to reply to EU antitrust charges

August 14, 2015 BRUSSELS: Google Inc, the world’s most popular Internet search engine, has been given an extra two weeks to counter European Union charges of abusing its market power in a dozen EU countries and stave off a possible billion-euro fine. The European Commission has extended the deadline for replying to the charges to […]

August 13, 2015 | By | Reply More
Candy Crush creator King Digital forecasts lower bookings

Candy Crush creator King Digital forecasts lower bookings

King Digital Entertainment Plc said second-quarter gross bookings fell 13 percent and forecast a further drop in the current quarter as its flagship Candy Crush Saga matures and game launches are delayed. King Digital’s shares slipped 9 percent in extended trading after the company also reported an 18 percent drop in quarterly revenue, citing fewer […]

August 13, 2015 | By | Reply More
M’sian economy grows at slowest pace in nearly two years

M’sian economy grows at slowest pace in nearly two years

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August 13, 2015 | By | Reply More
BNM says finished 1MDB probe, submits recommendation

BNM says finished 1MDB probe, submits recommendation

The central bank is among institutions that are investigating 1 Malaysia Development Berhad (1MDB) over allegations of mismanagement and graft. UPDATED KUALA LUMPUR: Malaysia’s central bank has completed a probe into troubled state fund 1MDB and a report asking for “appropriate enforcement action” has been submitted to the attorney general, Governor Zeti Akhtar Aziz said […]

August 13, 2015 | By | Reply More
Lenovo quarterly revenue misses expectations, announces cuts

Lenovo quarterly revenue misses expectations, announces cuts

August 13, 2015 BEIJING: Lenovo Group Ltd missed quarterly revenue expectations on Thursday and said it plans to lay off about 10 percent of its global non-manufacturing workforce, after posting a steep sales decline in its mobile division. The world’s No 1 PC maker said it plans to cut about 3,200 non-manufacturing positions to save […]

August 13, 2015 | By | Reply More
China lets yuan fall further, fuels fears of ‘currency war’

China lets yuan fall further, fuels fears of ‘currency war’

SHANGHAI: China’s currency fell to a four-year low on Wednesday, slumping for a second day, after a central bank devaluation on Tuesday, and government sources believe the yuan may be allowed to slide even further to help the country’s exporters. The yuan traded in China hit a low of 6.4510 per US dollar, its lowest […]

August 13, 2015 | By | Reply More
US automakers, fund managers looking past China’s devaluation

US automakers, fund managers looking past China’s devaluation

For many US companies and investors, the volatility in world markets this week, following Beijing’s surprise currency devaluation, presents the challenge of balancing the country’s current uncertain economic prospects against the hope for long term growth from the world’s most populous nation. China this week devalued its currency against the US dollar, after more data […]

August 13, 2015 | By | Reply More
Alibaba skids as revenue growth slowest in three years

Alibaba skids as revenue growth slowest in three years

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August 12, 2015 | By | Reply More
M’sian ringgit slumps to weakest level in 17 years

M’sian ringgit slumps to weakest level in 17 years

The ringgit’s level on Wednesday was the lowest since then-leader Mahathir Mohamad imposed capital controls and a peg of 3.8 ringgit per dollar in 1998 to shield the economy amid a regional financial crisis. KUALA LUMPUR: Malaysia’s ringgit currency slid past 4.0 to the dollar on Wednesday for the first time in 17 years, pounded […]

August 12, 2015 | By | Reply More
China central bank under pressure to weaken yuan further

China central bank under pressure to weaken yuan further

The Commerce Ministry, which on Wednesday publicly welcomed the devaluation as an export stimulus, had led the push for Beijing to abandon its previous strong-yuan policy. BEIJING: China’s move to devalue its currency reflects a growing clamor within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure […]

August 12, 2015 | By | Reply More