April, 2017

• 1 April

  Hertz shares bear brunt of used-car price plunge

  

    Bloomberg As investor panic spreads about the plunging prices of used cars in the US, one company and its high-profile top investor are enduring the biggest beating: Hertz Global Holdings Inc. and billionaire Carl Icahn. Hertz shares lost one fifth of their value last week, as a troubling reading for a used-vehicle price index was followed by warnings that ...

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• 1 April

  Web privacy furor previews coming ‘net neutrality war’

  

    Bloomberg The US Congress’s decision to invalidate a set of internet privacy rules from the Obama administration set off a firestorm this week. The change, which will allow service providers like AT&T Inc. and Verizon Communications Inc. to collect and sell customers’ information without their permission, prompted ad campaigns from internet freedom groups shaming lawmakers and a small wave ...

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• 1 April

  Google’s UK business reveals tax charge, jump in profits

    Bloomberg Google’s UK business is to pay 25 million pounds ($31.4 million) in UK corporation tax, according to its latest results, a year after the company was ordered to hand over 130 million pounds in back taxes to the government. The UK subsidiary of Alphabet Inc.’s Google turned a profit, before taxes, of 148.2 million pounds for the year ...

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• 1 April

  Hon Hai posts profit rise after record iPhone sales

  

    Bloomberg Hon Hai Precision Industry Co.’s reported an unexpected rise in quarterly earnings after the main assembler of Apple Inc.’s devices rode record iPhone sales during the pivotal holiday shopping period. The world’s biggest contract manufacturer of electronics reported a 30 percent increase in net income to NT$68.8 billion ($2.3 billion) in the three months ended December, according to ...

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• 1 April

  Huawei sales up 32%, profit little-changed

  

    AP Huawei Technology Ltd., the world’s biggest maker of telecoms equipment, said its 2016 sales rose 32 percent from a year earlier but profit increased by only 0.4 percent due to higher spending on research and marketing. Huawei said it earned 37 billion yuan ($5.4 billion) on total revenue that rose 32 percent to 521.6 billion yuan ($75.6 billion). ...

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• 1 April

  BlackBerry surpasses $640 million target in software revenue

  

    Bloomberg BlackBerry Ltd. is finally starting to look like a real software company. After three years of acquisitions, layoffs and trying to convince customers it could do more than build smartphones, the Canadian company’s software revenue and profit margins are growing in the way Chief Executive Officer John Chen wants them to. The stock too: It rose the most ...

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• 1 April

  Living by the sword!

  

    NEW HAMPTON, NY / AP Through smoke and sparks and staccato banging from his anvil, John Lundemo forges swooping swords that look like they should be pulled from a stone, swung by a samurai or thrust on “Game of Thrones.” The 60-year-old has carved out a niche making pricey blades that are inspired by history but liberally mix in elements ...

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March, 2017

• 30 March

  Bigger MSCI weighting for merged UAE banks

  

    ABU DHABI / WAM The merger of the National Bank of Abu Dhabi (NBAD) and the First Gulf bank (FGB) will leave the newly integrated entity with a larger representation on the MSCI Emerging Markets index, triggering massive cash inflows to the stock, according to Rashid Al Baloushi, CEO of Abu Dhabi Securities Exchange (ADX). Speaking to Emirates News ...

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• 30 March

  Global renewables sector marks record year in 2016

  

    ABU DHABI / Emirates Business Global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016, making the strongest year ever for new capacity additions, according to data released today by the International Renewable Energy Agency (IRENA). Renewable Energy Capacity Statistics 2017, estimates that by the end of last year the world’s renewable generation capacity reached 2,006 GW, ...

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• 30 March

  Air transport contributes $2.7trn to global GDP

  

    ABU DHABI / WAM The Global Manufacturing and Industrialisation Summit (GMIS 2017), aerospace leaders have highlighted the importance of the aerospace industry as a major contributor to global Gross Domestic Product, adding that the international air transport alone contributes US$2.7 trillion. They also discussed the future of the aerospace industry that supports 10 million people globally through direct employment, ...

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