Business News
Sharp’s third-quarter profit up 38.5%, above estimates
Japan’s Sharp Corp on Tuesday reported a 38.5% increase in third-quarter operating profit thanks to gains at its smart appliance division and cost reduction efforts.
Month: February 2020
Business News
Jewelry maker Pandora sees continued sales decline in 2020
Danish jewelry maker Pandora’s fourth-quarter operating profit on Tuesday beat forecasts despite disappointing sales in China while it said its 2020 organic sales growth is expected to fall by 3%-6%.
Business News
Hyundai to suspend South Korea production on China virus impact
Hyundai Motor plans to gradually suspend production at its South Korean factories from Tuesday, the first global major automaker to do so outside China, due to supply chain disruptions caused by the coronavirus outbreak.
Business News
Sony raises annual outlook after third-quarter profit beats estimates
Sony Corp on Tuesday raised its annual profit outlook on the back of strong sales of image sensors for smartphones, after the company reported a smaller-than-expected decline in third-quarter profit.
Business News
Japan’s Takeda forecasts surprise full-year operating profit
Takeda Pharmaceutical Co Ltd said it now expects an operating profit for the full year, as opposed to its earlier projection for a loss, due to sales of its main products and cost savings from its integration with Shire Plc.
Business News
Mitsui CFO: China virus outbreak may slow manufacturing activities of autos and others
Japanese trading house Mitsui & Co Ltd sees China’s outbreak of a new coronavirus may slow manufacturing activities in automobile and other sectors, and possibly reduce steel product demand, the company’s executive said on Tuesday.
Business News
Oil prices rebound, fueled by hopes for OPEC+ supply cuts
Oil prices clawed back ground on Tuesday, rising 1% after the previous session’s slump, amid hopes for new production curbs by OPEC and its allies to offset any drop in future fuel demand that might be triggered by China’s coronavirus outbreak.
Business News
Carlsberg sees mid-single-digit operating profit growth in 2020
Danish brewer Carlsberg on Tuesday reported operating profit before special items for the second half of the year that was broadly in line with expectations and said it expects to deliver mid-single-digit organic operating profit growth in 2020.
Business News
Stocks firmer as China’s markets recoup some virus losses
Asian stocks bounced on Tuesday with Chinese markets reversing some of their previous plunge amid official efforts to calm virus fears, although investor sentiment remained fragile with oil near 13-month lows.
Business News
Bezos asks U.S. judge to dismiss lawsuit by girlfriend’s brother: Bloomberg
Amazon.com Inc Chief Executive Officer Jeff Bezos is urging a U.S. judge to dismiss a defamation lawsuit filed against him by the brother of his girlfriend Lauren Sanchez, Bloomberg reported https://www.bloomberg.com/news/articles/2020-02-04/bezos-urges-judge-to-dismiss-suit-by-girlfriend-s-brother?utm_campaign=socialflow-organic&utm_source=twitter&cmpid=socialflow-twitter-business&utm_medium=social&utm_content=business on Monday.
Business News
Korean Air CEO’s mother, younger sister back him amid family feud
Korean Air CEO Cho Won-tae’s mother and younger sister said on Tuesday they support the flag carrier’s current leadership headed by Cho.
Business News
AirAsia’s Fernandes denies Airbus bribe involving his former F1 team
AirAsia Group Bhd’s Tony Fernandes on Tuesday denied a now-defunct Formula 1 racing team formerly co-owned by him had any links to a bribery scandal involving the Malaysian airline’s only plane supplier, Airbus SE .
Trading Ideas
Apple Suppliers Aim to Resume Full China Production Feb. 10
(Bloomberg) — Apple Inc.’s major suppliers in China, including iPhone-maker Hon Hai Precision Industry Co., plan to resume full-scale production in the country Feb. 10, despite the coronavirus that has infected thousands and limited travel.Foxconn’s Hon Hai, the most important manufacturer for the U.S. company, said Tuesday it still expects to be able to restart facilities throughout China on schedule, according to a text message sent to Bloomberg News. Suppliers such as Quanta Computer Inc., Inventec Corp. and LG Display Co. also said they would go back to work next week in China.While Chinese officials and companies have targeted Feb. …read more […]
Business News
Asia stocks find footing as China markets recoup some losses
Asian stocks bounced on Tuesday with Chinese markets reversing some of their previous plunge amid official efforts to calm virus fears, although sentiment remained fragile with oil near 13-month lows.
Business News
Asia stocks find footing as China markets restore some losses
Asian stocks bounced on Tuesday with Chinese markets reversing some of their previous plunge amid official efforts to calm virus fears, although sentiment remained fragile with oil near 13-month lows.