LONDON – BP’s third quarter net earnings rose 9.2 percent as the energy company cut costs and increased production to adjust to lower oil prices. Continue Reading Below Net income increased to $1.77 billion from $1.62 billion in the same period last year, the London-based company said in a statement […]
FOX Business News
For first time in decade, UK interest rates are due to rise
LONDON – The Bank of England is on Thursday set to raise interest rates for the first time in a decade in order to keep a lid on inflation, a move that has the potential to hurt the British economy just as it struggles with the uncertainties of Brexit. Continue […]
Catalan ex-leader to speak in Brussels as asylum rumors grow
BRUSSELS – European officials say Catalonia’s ousted regional president will give a news conference in Brussels as speculation mounts as to whether he will request political asylum in Belgium. Continue Reading Below Carles Puigdemont arrived in Brussels on Monday, the same day that Spanish prosecutors announced they were seeking rebellion, […]
BP beats 3Q expectations, announces share buyback
BP said on Tuesday it will resume share buybacks after reporting a doubling in third-quarter profit in the clearest sign yet that the oil company is confident about a turnaround in a week when oil prices hit a two-year high above $60 a barrel. Continue Reading Below BP said it […]
Samsung Electronics logs record-high profit on memory chips
SEOUL, South Korea – Samsung Electronics Co. reported another record high in quarterly earnings Tuesday thanks to the unprecedented boom in the memory chip industry and predicted that another record-breaking quarter is on the horizon, a breathtaking run for a company fighting to get its leader out of jail. Continue […]
Sony profits soar on image sensors, games, “Spider-Man” film
TOKYO – Sony Corp. reported Tuesday that its fiscal second quarter profit zoomed by 26-fold from the same period last year, boosted by the success of its image sensors, game products and the latest “Spider-Man” movie. Continue Reading Below Tokyo-based Sony, which makes Bravia TVs, PlayStation 4 video-game consoles and […]
Sony raises earnings outlook, expects best-ever annual profit
Japan’s Sony Corp lifted its full-year operating income forecast on Tuesday, expecting to book its highest-ever profit due to strong sales of image sensors used in smartphones and other devices. Continue Reading Below The electronics firm forecast profit of 630 billion yen ($5.57 billion) for the year ending March, from […]
China’s Xi promises reform in event with US business leaders
BEIJING – President Xi Jinping has promised to open China’s economy wider during a meeting with American business leaders ahead of a visit by U.S. President Donald Trump amid trade tensions. Continue Reading Below Xi spoke Monday to members of an advisory board to Beijing’s Tsinghua University business school that […]
Asian shares sag after Wall St pull-back, weak China data
TOKYO – Shares were mostly lower Tuesday in Asia after markets retreated from their record highs overnight and China reported weak manufacturing data. Continue Reading Below KEEPING SCORE: Japan’s Nikkei 225 index lost 0.1 percent to 21,990.80 as the yen gained against the U.S. dollar, hurting exporters’ shares. Hong Kong’s […]
Japan central bank keeps policy intact, cuts price outlook
TOKYO – The Bank of Japan has wrapped up a policy meeting with no changes to its ultra-lax stimulus program, but slightly raised its forecast for growth in this fiscal year. Continue Reading Below The central bank did cut its outlook for inflation for the full fiscal year, which ends […]