• World Biz  |  JULY 31, 2014 3:18 PM

    Siemens profit beats estimates as revamp starts to pay off

    Story by

    Siemens AG reported earnings that beat analyst estimates as a restructuring program at Europe’s largest engineering company started to bear fruit and profit from factory automation and building technologies offset energy project charges. Income from continuing operations rose 36% to …

  • Corporate  |  JULY 31, 2014 3:14 PM

    George Kent announces one-for-three bonus issue

    Story by

    George Kent (Malaysia) Bhd has obtained shareholders approval for a one-for-three bonus issue of 75.1 million new ordinary shares to be credited as fully paid-up.

  • Corporate  |  JULY 31, 2014 3:09 PM

    GuocoLand hit with Bursa query for trading spike

    Story by
    [email protected]

    GuocoLand (Malaysia) Bhd has been issued a Usual Market Activity query by the stock exchange after the property developer’s shares rose 50% over the past five trading days. A statement by Bursa Malaysia today said the Usual Market Activity or …

  • World Biz  |  JULY 31, 2014 3:08 PM

    Sony posts surprise profit on PlayStation

    Story by

    Sony Corp posted a surprise first- quarter profit on strong demand for the PlayStation 4 game console and a rebound at the box office for its Hollywood studios. The company posted net income of 26.8 billion yen (RM833 million) in …

  • World Biz  |  JULY 31, 2014 2:57 PM

    Rolls-Royce will meet targets despite drop in 1H profit

    Story by

    Engine maker Rolls-Royce said it was on track to meet forecasts for the year, as it reported an expected 20% drop in 1H profit due to shrinking government defence spending and currency headwinds.

  • World Biz  |  JULY 31, 2014 2:54 PM

    Carrefour profit tops estimates as European sales strengthen

    Story by

    Carrefour SA, France’s largest retailer, reported first-half profit that exceeded analysts’ estimates as sales strengthened in Europe in line with the company’s turnaround plan. Recurring operating income rose 7.9% to 833 million euros (RM3552 billion) in the six months through …

  • World Biz  |  JULY 31, 2014 2:45 PM

    Amex CEO says merchant rules needed to keep trust

    Story by

    American Express Co chief executive officer Kenneth I Chenault defended company rules that bar merchants from asking customers to use cards with lower processing costs as a necessary measure to protect its brand. Chenault, 63, testified today at a trial …

  • Corporate, Featured and Exclusive, World Biz  |  JULY 31, 2014 2:38 PM

    Sony Corp’s 1Q profit doubles to RM2.2 bil

    Story by

    Japan's Sony Corp said operating profit doubled in the April-June quarter, helped by a strong performance in its games and networks division, even as the firm cut smartphone and TV sales forecasts that analysts had said were too ambitious.

  • World Biz  |  JULY 31, 2014 2:18 PM

    Carrefour 1H operating profit rise 13.8% to RM3.6 bil

    Story by

    Carrefour, the world's second-largest retailer, reported a 13.8% rise in first-half recurring operating profit to 833 million euros (RM3.6 billion), driven by higher profitability in its core French business and in Brazil and Argentina, while China stayed under pressure.

  • Singapore & World Biz  |  JULY 31, 2014 1:59 PM

    SIA shares tumbles 3.2%, biggest drop in 14 months

    Story by

    Shares of Singapore Airlines Ltd (SIA) fell as much as 3.2% on Thursday, the biggest drop in 14 months, as analysts cut their earnings forecasts after the company missed market estimates with a 52% drop in quarterly operating profit.

  • Corporate  |  JULY 31, 2014 1:43 PM

    REDtone 4Q profits falls by RM11.4 mil

    Story by

    REDtone International Bhd's pre-tax profit for the 4Q ended May 31, 2014 fell RM11.4 million to RM9.93 million from RM21.33 million in the same period of last year.

  • Corporate  |  JULY 31, 2014 1:25 PM

    Exim Bank to intensify it’s growth in Asia

    Story by

    Export-Import Bank of Malaysia Bhd (Exim Bank) plans to intensify its business in Asia given the region's high demand for infrastructure.

  • Commodities  |  JULY 31, 2014 1:14 PM

    KLTM ends slightly lower at US$22,800 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$50 easier for US$22,800 a tonne today, as investors took cue from the decline in the metal price on the London Metal Exchange (LME), a dealer said.

  • Markets  |  JULY 31, 2014 12:59 PM

    Share prices on Bursa end morning session lower

    Story by

    Share prices on Bursa Malaysia remained lower at mid-day today, weighed down by selected heavyweights. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.7 points lower at 1,874.64, after reaching an intra-day high of 1,882.07 in …

  • Markets  |  JULY 31, 2014 12:53 PM

    Fed tunes into Yellen playing the blues on labour market

    Story by

    The Federal Reserve’s policy committee has tuned into Chair Janet Yellen’s beat on the US labor market, and it’s still playing the blues. The Federal Open Market Committee’s policy statement today diminished the unemployment rate as a measure of progress …

  • World Biz  |  JULY 31, 2014 12:35 PM

    Apple said to cut jobs at Beats following acquisition

    Story by

    Apple Inc will fire about 200 workers at Beats Electronics LLC following its US$3 billion(RM9.54 billion) acquisition of the headphone and music company, a person with knowledge of the restructuring said. The jobs to be cut are in human resources, …

  • Markets  |  JULY 31, 2014 12:22 PM

    Wall Street facing new US scrutiny of derivatives tactic

    Story by

    Wall Street banks face heightened scrutiny from the Commodity Futures Trading Commission over their latest tactic to escape US trading rules for overseas derivatives. The regulator sent letters today to JPMorgan Chase & Co, Goldman Sachs Group Inc, Bank of …

  • World Biz  |  JULY 31, 2014 12:07 PM

    Snapchat’s Facebook snub looks smart

    Story by

    Take that, Facebook Inc A year after rebuffing a US$3 billion(RM9.54) takeover proposal from Mark Zuckerberg, Snapchat Inc is in talks to raise money from Alibaba Group Holding Ltd, people with knowledge of the matter said. The valuation being considered …

  • World Biz  |  JULY 31, 2014 11:48 AM

    Samsung profit misses estimates on phone slowdown

    Story by

    Samsung Electronics Co posted second-quarter profit that missed analysts’ estimates on increased marketing for its cheaper smartphones as it tries to fend off competition from Apple Inc and Chinese producers. Net income, excluding minority interests, was 6.18 trillion won (RM396 …

  • Markets  |  JULY 31, 2014 11:22 AM

    Share prices turn lower at mid-morning

    Story by

    Share prices on Bursa Malaysia turned lower at mid-morning today, on mild profit taking. At 11.01am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.51 points lower at 1,876.83 points, after opening 3.34 points higher at 1,881.68. Hong Leong …