Thursday, May 18th, 2017

 

Upbeat data brings investors back after Trump slump

NEW YORK, May 18 — US stocks rose as upbeat economic data emboldened investors to return to the market today, a day after Wall Street suffered its worst selloff in eight months following a political crisis involving President Donald Trump….


ECB’s journey out of stimulus is still long and unclear

FRANKFURT, May 18 — European Central Bank policymakers are preparing to dial back their extraordinary stimulus measures if the economy continues to improve, but that course of action is not yet certain, comments by three ECB rate setters and…


Audi pledges full dieselgate transparency, CEO say

BERLIN, May 18 — Audi pledged full transparency as it continues to clean up after the dieselgate emissions fraud but shareholders at the German luxury carmaker’s annual meeting today again urged managers to reveal more about the scandal….


Deutsche Bank wants former bosses to share past misconduct costs

FRANKFURT, May 18 — Deutsche Bank expects former board members to voluntarily pay substantial sums for their role in past misconduct which has tarnished the reputation of Germany’s biggest lender, its chairman Paul Achleitner said today….


Japan’s SoftBank invests US$1.4b in India’s Paytm

MUMBAI, May 18 — Japan’s SoftBank Group has invested US$1.4 billion (RM6.07 billion) in the parent of India’s Paytm, giving the digital payments start-up a boost as it looks to expand its user base and maintain its market lead in Asia’s…


Opec oil-deal extension backed by most nations, Algeria says

MOSCOW, May 18 — Algeria, which was instrumental in crafting Opec’s historic output deal last year, said a nine-month extension to the accord would be backed by most participating nations and spur a higher rate of compliance. “Most of the…


Prudential posts Q1 new-business profit rise, reshuffles management

LONDON, May 18 — British insurer Prudential reported a 25 per cent rise in first-quarter new-business profits today, driven by a strong performance in Asia, and announced the appointment of a new chief financial officer in a management…


Ralph Lauren beats profit estimates as it reins in discounts

NEW YORK, May 18 — Ralph Lauren Corp reported a better-than-expected quarterly profit today, as the luxury apparel maker reined in discounts and cut inventories in a bid to boost margins. Shares of the company rose 5 per cent in trading before…


Alibaba reveals US$6b share buyback as misses EPS forecast

SHANGHAI, May 18 — Alibaba Group Holding Ltd said today it would buy back shares worth up to US$6 billion (RM26 billion) over two years, as it beat first quarter revenue forecasts but missed income estimates. The Chinese company, which is…


Wal-Mart draws more shoppers, online sales jump

CHICAGO, May 18 — Wal-Mart Stores Inc today reported higher-than-expected quarterly sales at established US stores, as more customers visited the discount retailer and its e-commerce push boosted online purchases, sending its shares up 1.3 per…