Thursday, March 29th, 2018

 

Wall Street surges on last day of turbulent quarter

NEW YORK, March 29 —  US stocks jumped today as technology shares bounced back from a sharp selloff ahead of a long weekend that marks the end of a turbulent quarter for Wall Street. Shares of Facebook, Apple, Alphabet and Microsoft were up…


Bitcoin breaches US$7,500 in downbeat end to dismal quarter

LONDON, March 29 — Bitcoin’s miserale quarter isn’t over yet. The world’s biggest cryptocurrency by market value dropped as much as 7 per cent today, taking it below the US$7,500 mark to the lowest level on a closing basis since early…


Melrose wins UK engineer GKN with US$11b hostile bid

LONDON, March 29 — Melrose Industries has narrowly clinched an £8 billion- (approx. RM43.4 billion takeover of British engineer GKN, after a three-month battle for control of the FTSE 100 company. The UK-based turnaround specialist said today…


McDonald’s to boost its tuition benefits after tax windfall

CHICAGO, March 29 — McDonald’s Corp. plans to pump US$150 million into tuition assistance for its US employees, becoming the latest corporate giant to use the federal tax overhaul to boost benefits. The money will help make 400,000…


Wall St rises as technology shares gain

NEW YORK, March 29 — US stocks were higher today as technology shares showed signs of recovery following a selloff in the last two weeks that was triggered by worries over increased regulations. Shares of Facebook, Apple and Alphabet were up…


France to spend €1.5b on artificial intelligence by 2022

PARIS, March 29 — France will invest €1.5 billion (approx. RM7.14 billion) of public money into artificial intelligence research by 2022 in a bid to catch up with the United States and China and reverse a brain drain. The investment is part…


Acxiom shares tank after Facebook cuts ties with data brokers

NEW YORK, March 29 — Shares of Acxiom Corp plunged 27 per cent today, after Facebook Inc said it would end its partnerships with several large data brokers who help advertisers target people on the social network. The stock has now lost more…


US consumer spending up slightly; jobless claims at 45-year low

WASHINGTON, March 29 — US consumer spending rose marginally for a second straight month in February as households boosted savings, the latest indication that the economy lost momentum in the first quarter. But the economy’s fundamentals…


Barclays to pay US$2b US fine over mortgage fraud claims

WASHINGTON, March 29 — Barclays has agreed to pay US$2 billion for allegedly causing billions of dollars of losses to investors by engaging in a fraudulent scheme to sell residential mortgage-backed securities between 2005 and 2007, the US…


Eco World Q1 net profit falls to RM24.09m

KUALA LUMPUR, March 29 — Eco World Development Group Bhd’s net profit for the first quarter (Q1) of financial year ended Oct 31, 2018 fell to RM24.09 million from RM116.17 million in the preceding year’s corresponding quarter. Revenue…