South Korea’s LG Display Co Ltd , a key Apple supplier, slashed its investment plans by $2.7 billion to 2020 citing concern for the global smartphone market, as it posted a second consecutive quarterly loss.
Asian stocks were higher on Wednesday, supported by strong Wall Street earnings and hopes China’s government spending would boost growth but trade tensions remain in focus ahead of a meeting between the U.S. and European Commission presidents.
President Donald Trump on Tuesday criticized the Federal Communications Commission for not approving Sinclair Broadcast Group Inc’s $3.9 billion acquisition of Tribune Media , calling it “disgraceful” compared with the FCC’s approval several years ago of a deal involving the NBC television network.
A year on from Syngenta’s $43 billion purchase by ChemChina, the seed and chemical giant is leveraging its new status as a Chinese company to grow its tiny share of the highly fragmented China market.
U.S. President Donald Trump said on Tuesday it was “sad and unfair” that the U.S. Federal Communications Commission would not approve the Sinclair Broadcast Group Inc’s $3.9 billion acquisition of Tribune Media .
German utility E.ON will announce about 500 job losses next week in its British business, the Times reported on Wednesday, as the energy giant tries to cut costs before the British government imposes a price cap.
Asian stocks rode higher on Wednesday thanks to strong U.S. corporate earnings and hopes China will boost fiscal support for its economy, while long-term U.S. yields hovered near six-week highs on speculation the Bank of Japan could be less accommodative.
The Apple Inc (AAPL.O) supplier posted an operating loss of 228 billion won (153.72 million pounds), compared with an average forecast of a 247 billion won loss derived from a Thomson Reuters survey of 11 analysts. It was LG Display’s second consecutive quarterly loss amid an uncertain time for the global panel industry, with Chinese manufacturers ramping up capacity and a glut of LCD output crimping prices and profit margins. …read more […]
South Korea’s LG Display Co Ltd said on Wednesday its losses mounted in the second quarter due to falling panel prices and weaker demand from television and handset makers.
Facebook has set up a subsidiary in China and plans to create an “innovation hub” to support local start-ups and developers, the social media company said on Tuesday, ramping up its presence in the restrictive market where its social media sites remain blocked.
Asian memory chipmakers’ production plans and outlook will be closely watched as they start reporting earnings this week, following sharp falls in their stock prices due to concerns that a 2-year industry super-cycle may be skidding to a halt.
Brussels, Athens and Piraeus are among cities London insurance brokers could consider for European Union subsidiaries, with time running out to plan for a hard Brexit, a trade body said on Wednesday.
LANSING, Mich. (AP) — Drugmaker Pfizer Inc. plans to expand manufacturing in Michigan and add 450 jobs under an incentives deal approved Tuesday by the state’s economic development arm. …read more […]
U.S. President Donald Trump’s daughter Ivanka Trump on Tuesday said she was shutting her fashion line to focus on her role as an informal White House adviser, where she is working on advancing working women.
AT&T Inc. (T) just released its latest quarterly results, posting earnings of $0.81 per share and revenues of $39 billion. …read more […]
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