Wednesday, May 9th, 2018

 

China’s Tencent signs broad cultural deal with Britain

LONDON, May 9 — Chinese internet giant Tencent signed a trade deal with Britain to work with its cultural industries, deepening cooperation between the two countries and setting the stage for its own further international expansion. Tencent said…


Euro bounces off 2018 low as dollar pauses amid Iran uncertainty

LONDON, May 9 — The euro slid to a new 2018 low today before recovering slightly, as investors bet on dollar strength due to relatively higher interest rates, while the US exit from an Iran nuclear pact and political uncertainty in Italy were also…


SoftBank CEO confirms Walmart buying India e-tailer Flipkart

TOKYO, May 9 — US retail giant Walmart will buy a majority stake in India’s largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm. “Last night, (they) reached a final agreement and it…


Vodafone buys raft of Liberty’s European assets for €18.4b

LONDON, May 9 — British telecoms giant Vodafone announced today an €18.4 billion (RM87 billion) deal to buy parts of Liberty Global’s operations that will make it Europe’s largest cable and broadband operator. The deal for assets of the US…


Air France KLM raises estimate of impact from strikes to €400m

PARIS, May 9 — Air France KLM has raised its estimate of the impact to the company from a wave of strikes to around €400 million (RM1.8 billion), compared to a previous €300 million estimate, said a group spokeswoman today. Shares in Air…


Toyota posts record profit but warns on outlook

TOKYO, May 9 — Japanese car giant Toyota reported a record full-year net profit today thanks to a weaker yen and US tax cuts, but warned about the outlook for the next 12 months. Company president Akio Toyoda said the industry was facing…


S. Korea says GM deal to ensure it remains in country for at least 10 years

SEOUL, May 9 — South Korea said today that an impending deal with General Motors to refinance its local unit will ensure the US automaker remains in the country for at least 10 years, as its rights to sell shares and assets will be curtailed. GM…


Vodafone agrees €18.4b deal to buy some Liberty assets

LONDON, May 9 — Vodafone Group has agreed an €18.4 billion (RM86.5 billion) deal to buy cable TV company Liberty Global's operations in Germany, Czech Republic, Hungary and Romania. Vodafone said adding Liberty's cable TV and broadband services…


Asian currencies hit by rising oil prices as US quits Iran deal

SINGAPORE, May 9 — Asian currencies declined today as sentiment was hit after US President Donald trump pulled the country out of an international nuclear deal with Iran, triggering a rally in oil prices in a negative sign for net oil importers in…


Hong Kong group aims to curb money laundering around Asia

HONG KONG, May 9 — A Hong Kong based NGO backed by regulators, former central bankers and government officials today announced an alliance to fight money laundering and regulate the fast growing financial technology space across Asia. The…