Browsing: Business & Economy News

Chinese online retailer JD.com rallied Thursday in its Wall Street debut, suggesting an appetite for its larger rival Alibaba. The company, trading under the symbol JD on the Nasdaq exchange, jumped 10.5 percent to $21 from its initial public offering…

Vodafone’s annual net profit rocketed to £59.25 billion, boosted by the enormous sale of its stake in US joint-venture Verizon Wireless, the British mobile phone giant said on Tuesday. Earnings after taxation surged to the equivalent of $100 billion…

The Philippine economy will more than double in the next decade as earnings from overseas workers and business outsourcing surge, a respected US-based think-tank said Monday. Once the region’s perennial economic laggard, the Southeast Asian country…

European equities fell Thursday as investors digested gloomy eurozone data showing anaemic economic growth for the first quarter of the year. London’s benchmark FTSE 100 index gave up 0.55 percent to close at 6,840.089 points as investors considered…

Spanish oil group Repsol has raised $2.0 billion with the sale of Argentinian government bonds received as payment for the nationalisation of its offshoot YPF, the company said. The sale, worth the equivalent of 1.47 billion euros, means that Repsol…

India’s stock market surged to its second consecutive record high and the rupee rallied on expectations exit polls released later Monday will show the Bharatiya Janata Party (BJP) winning national elections. The country’s mammoth election wraps up on…

Though anti-EU outsiders UKIP might top the polls at the European Parliament elections in Britain, a eurosceptic streak runs through all the mainstream parties they stand against. The United Kingdom Independence Party of Nigel Farage, which is fixed…

Struggling Japanese electronics maker Sharp said Monday it had swung back to profit for the full year to March after two years of huge losses, thanks to stronger sales and cost-cutting. The Osaka-based company booked a 11.56 billion yen ($114 million…

The Dow closed at a fresh record high as US stocks rallied Friday, with investors shrugging off mixed earnings reports and uncertainty over the Russia-Ukraine crisis. The Dow Jones Industrial Average advanced 32.37 points (0.20 percent) to 16,583.34…

Alibaba — often described as a Chinese version of Amazon or eBay — filed documents Tuesday for its US stock listing, widely expected to be one of the largest offerings in history. The initial filing with the US Securities and Exchange Commission indicates…

The European Central Bank is not expected to cut interest rates this week, but could start paving the way for a possible move in June if deflationary dangers persist, analysts said. The ECB has held eurozone borrowing costs at their current all-time…

US stocks finished higher for the week, even as intensifying concerns over Ukraine partially offset positive sentiment from some strong economic reports and accelerating Wall Street deal-making. All three indices posted increases. The Dow Jones Industrial…

Mexico’s state oil giant Pemex on Wednesday reported a nearly $2.7 billion loss in the first quarter. Pemex, which provides a third of Mexico’s government revenue, had a $327 million loss in the same quarter of 2013. The company saw a net loss of $12…

US stocks Monday finished mostly higher as investors absorbed new sanctions on Russia and looked ahead to a busy week of economic news and earnings. The Dow Jones Industrial Average advanced 87.28 points (0.53 percent) to 16,448.74. The broad-based…

French engineering group Alstom said on Sunday that it has suspended trading in its shares as expectations grew for a possible bidding war between industrial giants General Electric and Siemens. The announcement came after French President Francois…

London shares opened lower on Friday as airlines fell amid reports of a highjacking in Indonesia, dealers said. The benchmark FTSE 100 index lost 26.70 points or 0.40 percent to 6,676.30 points at 8:19 am. A passenger plane landed at Bali airport on…

Trading in shares in French engineering group Alstom was suspended on Friday, a day after the shares surged on rumours of a bid by US giant General Electric. “The shares are suspended as required by the AMF (financial market authority) until further…

London shares closed slightly lower on Wednesday despite strong eurozone data, dragged down by concerns about the Chinese economy amid anxiety about the Ukraine crisis. The benchmark FTSE 100 index slipped 0.11 percent compared to Tuesday’s closing…

US aerospace and defense giant Boeing raised its 2014 profit outlook Wednesday despite a first-quarter profit slide, citing strong demand for its new jetliners. A sharp rise in pension costs from a change in retirement plans offset Boeing’s robust commercial…

Nigeria’s forex and commodity trading business is becoming more competitive, with the entrance of Nigeria-based Forex broker, with a promise to simplify trading and make it more appealing to interested Nigerians. Abuja, Nigeria — (SBWIRE) — 04/22…