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EBay's fails to post revenue growth in holiday quarter

EBay's fails to post revenue growth in holiday quarter

REUTERS: EBay Inc reported no growth in revenue in the holiday quarter, during which it faced intense competition from bigger e-commerce rival Amazon.com Inc as well as traditional retailers. The company’s revenue was US$2.32 billion in the fourth quarter ended Dec. 31, flat with a year earlier. Net income fell to US$477 million, or 39 […]

January 27, 2016 | By | Reply More
Sales, Q4 profits up but Ericsson misses expectations

Sales, Q4 profits up but Ericsson misses expectations

STOCKHOLM: Swedish telecoms giant Ericsson on Wednesday (Jan 27) saw higher licensing revenues and lower expenses underpin a strong rise in fourth-quarter net profit, but its stock plunged after the showing fell short of analysts’ expectations. In November, Ericsson cut its forecast for global market growth in the sector over the next few years, expecting […]

January 27, 2016 | By | Reply More
Wall Street turns red after Fed fails to impress

Wall Street turns red after Fed fails to impress

REUTERS: Wall Street dropped on Wednesday after the U.S. Federal Reserve frustrated investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil. In a widely expected decision, the Fed kept interest rates unchanged and it said it was “closely monitoring” global economic and financial […]

January 27, 2016 | By | Reply More
Federal Reserve says US growth slowed, keeps rate unchanged

Federal Reserve says US growth slowed, keeps rate unchanged

WASHINGTON: The Federal Reserve said US growth slowed late last year as it kept its benchmark interest rate unchanged on Wednesday (Jan 27) after December’s historic hike. In a short policy statement, the US central bank hinted at some concern with global market turbulence and sluggish growth. But it said it still expected that inflation, […]

January 27, 2016 | By | Reply More
Fed keeps interest rates steady, closely watching global markets

Fed keeps interest rates steady, closely watching global markets

WASHINGTON: The Federal Reserve kept interest rates unchanged on Wednesday and said it was “closely monitoring” global economic and financial developments, but maintained an otherwise upbeat view of the U.S. economy. The central bank’s decision was widely expected after a month-long plunge in U.S. and world equities raised concerns that an abrupt global slowdown could […]

January 27, 2016 | By | Reply More
Ending fowl play over trade

Ending fowl play over trade

ACCORDING to the National Chicken Council (NCC), an American association of poultry farmers, the real question is “what road has our chicken not crossed?” For every five pounds of chicken produced in America, one pound is exported; trade allows chicken farmers to export some of the dark meat that foreigners prefer, while keeping the rest […]

January 27, 2016 | By | Reply More
Shell says shareholders back BG takeover

Shell says shareholders back BG takeover

LONDON: Anglo-Dutch energy major Royal Dutch Shell said on Wednesday (Jan 27) that its investors had given the green light to its mega-takeover of smaller rival BG Group. The £47-billion (US$67 billion) deal was announced in April and has been cleared by regulators, but has been dogged by speculation in recent months owing to collapsing […]

January 27, 2016 | By | Reply More
Apple shares slip, to stay muted until iPhone 7 rings in growth

Apple shares slip, to stay muted until iPhone 7 rings in growth

REUTERS: Apple Inc shares fell as much as 6 percent on Wednesday after the company reported its slowest-ever rise in iPhone shipments, with an uptick likely only after the expected launch of iPhone 7 in September. The March quarter is likely to be the weakest this year in terms of iPhone sales. Apple on Tuesday […]

January 27, 2016 | By | Reply More
Sterling's plunge; markets wake up to Brexit

Sterling's plunge; markets wake up to Brexit

STERLING has had a very choppy history, marked by crises such as 1967, 1976 and 1992. And it is having another rocky period. John Warith of UBS writes that Of the many violent recent moves in global markets, the collapse of sterling is one of the most remarkable. In trade weighted terms, the currency has […]

January 27, 2016 | By | Reply More
Google ships five million Cardboard virtual reality devices

Google ships five million Cardboard virtual reality devices

REUTERS: Alphabet Inc’s Google said it had shipped 5 million units of the Google Cardboard viewer, a wearable device that allows users to experience virtual reality through mobile apps. The company, which launched the Cardboard viewer a year and a half earlier, said on Wednesday that there had been 25 million downloads of Cardboard apps […]

January 27, 2016 | By | Reply More