• World Biz  |  JULY 30, 2014 12:18 PM

    Twitter stock surges as CEO makes case for future growth

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    Twitter Inc chief executive officer Dick Costolo is getting the company back on track with Wall Street by drawing people to use the service more, sending shares soaring more than 35%. The microblogging company yesterday reported revenue more than doubled …

  • World Biz  |  JULY 30, 2014 12:04 PM

    Honda raises profit forecast on Yen, emerging markets

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    Honda Motor Co, Japan’s third- largest carmaker, raised its profit forecast to the highest in seven years as the yen weakens and new models boost sales in emerging markets. Net income will probably climb 4.5% to 600 billion yen (RM18.6 …

  • World Biz  |  JULY 30, 2014 11:43 AM

    McDonald’s Japan pulls profit forecast; supplier scandal

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    McDonald’s Corp’s Japan business withdrew its forecast for the first profit increase since 2011 after suspending sales of chicken nuggets supplied by a company that acknowledged food safety problems at its Shanghai plant. “We are losing 15% to 20% of …

  • Markets & World Biz  |  JULY 30, 2014 11:26 AM

    JPMorgan says don’t fight the PBOC

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    That’s the advice to investors from Adrian Mowat, the Hong Kong-based chief Asia and emerging-market strategist at JPMorgan Chase & Co who raised his rating on Chinese stocks to neutral from underweight in a report dated yesterday. He said shares …

  • Markets & World Biz  |  JULY 30, 2014 11:16 AM

    OCBC shares climb as Wing Hang takeover succeeds

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    Oversea-Chinese Banking Corp shares climbed the most in three months as it prepares to take Hong Kong’s Wing Hang Bank Ltd private after shareholders accepted its US$5 billion(RM15.8 billion) takeover offer. OCBC will delist Wing Hang after raising its ownership …

  • World Biz  |  JULY 30, 2014 10:54 AM

    Ford deploys iPhones for corporate use

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    Ford Motor Co is deploying iPhones for corporate use to employees worldwide, scoring a win for Apple Inc as it seeks to lure more corporate customers. The second largest US automaker will replace BlackBerry Ltd’s smartphones with iPhones for about …

  • World Biz  |  JULY 30, 2014 10:41 AM

    Toyota outsells VW; rising demand for SUVs

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    Toyota Motor Corp kept its global sales lead over Volkswagen AG as the RAV4 maker benefited from Americans’ rising demand for SUVs. Deliveries for Toyota, including its Hino Motors Ltd  and Daihatsu Motor Co units, climbed 3.8% to 5.1 million …

  • Markets  |  JULY 30, 2014 7:39 AM

    Dollar gains on outlook for hawkish Fed, strong US data

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    The US dollar hit fresh eight-month highs against the euro on Tuesday and advanced against the yen and Swiss franc on expectations for positive US economic data and a potentially more hawkish tone from the Federal Reserve. Analysts said the Fed, which is …

  • Markets  |  JULY 30, 2014 7:33 AM

    Wall Street ends down; Twitter rallies after-hours

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    US stocks fell on Tuesday, dropping in a broad selloff as a weak outlook from courier company UPS weighed on sentiment and pressured transportation stocks. Although a rally in telecom stocks helped to limit the broader market’s decline, the S&P 500 ended below its …

  • Commodities  |  JULY 30, 2014 7:22 AM

    Brent oil firm on new Russia sanctions; US slips on refinery

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    Brent crude ended slightly higher on Tuesday as new sanctions on Russia looked set to worsen relations between Moscow and the West, while US prices slipped after a Kansas refinery fire curbed demand for WTI crude. Brent futures reversed early morning losses after …

  • Commodities  |  JULY 30, 2014 7:17 AM

    Gold drops as market waits for Fed”s rate view

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    Gold fell on Tuesday as investors nervously awaited the end of US Federal Reserve’s two-day policy meeting on Wednesday to see if the central bank will raise interest rates faster than expected. Further weighing on the market was some selling in the August …

  • World Biz  |  JULY 29, 2014 3:35 PM

    BP quarterly profit rises 34%

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    BP Plc posted a better-than-expected 34% rise in quarterly profit after increasing production of higher-margin products and selling its liquids and gas at higher prices. Underlying replacement cost profit rose to US$3.63 billion (RM11.5 billion) for the second quarter, above …

  • Corporate & World Biz  |  JULY 29, 2014 3:24 PM

    Promotion push helps boost Domino’s Pizza 1H profit

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    Britain’s Domino’s Pizza posted a 10% rise in first half profit as improved marketing and promotions drove up sales, though the firm said its expansion in Germany was still proving troublesome. The group, which has most of its 868 stores …

  • World Biz  |  JULY 29, 2014 3:16 PM

    Michelin keeps 2014 targets as 1H profits rise

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    French tyre maker Michelin’s first-half net profit rose 13 percent to 624 million euros (RM2.7 billion) despite a fall in revenue as lower raw material costs outweighed adverse currency effects, price cuts and slowing demand for big tyres. Operating income …

  • World Biz  |  JULY 29, 2014 3:10 PM

    Puma says World Cup sales beat its expectations

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    German sportswear firm Puma said sales of World Cup soccer boots and national team shirts beat its expectations as it reported second-quarter results in line with analyst forecasts and reiterated its expectations for 2014. Puma said on Tuesday sales fell …

  • World Biz  |  JULY 29, 2014 3:04 PM

    Nomura profit falls after stock rally cools

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    Nomura Holdings Inc reported on Tuesday its second straight quarter of profit decline after the cooling of last year’s Tokyo stock market rally dragged on brokerage commissions. Japan’s biggest investment banking and brokerage group said net profit fell 70% to …

  • Corporate & World Biz  |  JULY 29, 2014 2:43 PM

    Honda profit beats estimates on cost cuts, Japan sales

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    Honda Motor Co’s April-June operating profit rose 7.1 percent from a year earlier to 198.04 billion yen (RM6.2 billion), beating analyst estimates, boosted by cost cuts and strong sales of the remodelled Fit in Japan. The first-quarter operating profit compared …

  • Markets  |  JULY 29, 2014 12:37 PM

    Wall St yawns as deal news offsets data; Herbalife sinks

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    US stocks ended nearly flat on Monday as the latest deal news offset losses following discouraging data on the housing market and some signs of weakness in the services sector. Dollar Tree Inc offered to buy rival discount chain Family …

  • World Biz  |  JULY 29, 2014 12:28 PM

    Siemens targets 10% revenue increase this year

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    Siemens Malaysia Sdn Bhd is targeting revenue growth about 10% this year driven by projects in the energy, infrastructure and cities sectors. President and chief executive officer M Prakash Chandran said Siemens has four core business portfolios, namely, energy, infrastructure …

  • Corporate & Featured and Exclusive  |  JULY 29, 2014 12:19 PM

    MAS faces passenger cancellations after disasters

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    Malaysian Airline System Bhd (MAS) is facing an influx of passenger cancellations after the carrier’s second disaster this year, adding to the strains of a company that’s bracing for a fourth consecutive annual loss. Travel agents from Melbourne to Singapore, …