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Once red-hot smartphone market sees cooler trend

SAN FRANCISCO, Feb 3 — The smartphone market is down but not out, with high prices and other factors combining to chill what had previously been a red-hot sector. Fresh surveys show global sales had their worst contraction ever in 2018, and the…


Amazon jitters offset upbeat jobs data on Wall Street

NEW YORK, Feb 2 — Wall Street ended mixed yesterday, as optimism from a surge in January US job growth was offset by a weaker-than-expected outlook from Amazon.com Inc that battered retail stocks. The online retail heavyweight slumped 5.38 per…


Factory activity shrinks across Asia as China cools

HONG KONG: Factory activity shrank across much of Asia in January, falling to the weakest in years in several countries and adding to worries that trade tariffs and cooling demand in China pose an increasing threat to global growth. The weak Purchasing Managers Index (PMI) readings reinforce expectations that central banks in Asia will put […]


Factory activity shrinks across Asia as cooling China threatens global growth

HONG KONG, Feb 1 — Factory activity shrank across much of Asia in January, falling to the weakest in years in several countries and adding to worries that trade tariffs and cooling demand in China pose an increasing threat to global growth. The…


Samsung Electronics 4Q profits slump along with global demand

SEOUL: Samsung Electronics, the world’s biggest smartphone and memory chip maker, reported a slump in fourth-quarter net profits on Thursday, blaming a drop in demand for its key products. Net profits in the October-December period were 8.46 trillion won (US$7.6 billion), it said, down 31 per cent year-on-year. The firm is the flagship subsidiary of […]


Red ink alert: Hundreds of Chinese firms warn on profits

SHANGHAI, Jan 31 — Hundreds of listed Chinese companies have slashed their forecasts for 2018 earnings this week in a sign that an economic slowdown and worries over US-China trade friction are beginning to bite. Companies across a range of…


Foxconn ‘adjusting’ Wisconsin factory plans hailed by Trump

TAIPEI, Jan 31 — Taiwanese electronics giant Foxconn said today it was reassessing plans to build a cutting-edge factory in Wisconsin, which Donald Trump once hailed as part of flagship drive to revive America’s manufacturing sector. Foxconn,…


Samsung Electronics Q4 profits slump along with global demand

SEOUL, Jan 31 — Samsung Electronics, the world’s biggest smartphone and memory chip maker, reported a slump in fourth-quarter net profits yesterday, blaming a drop in demand for its key products. Net profits in the October-December period were…


Qualcomm shares rise as outlook eases China fears

NEW YORK, Jan 31 — Qualcomm Inc reported quarterly earnings that handily beat Wall Street views yesterday and said it had negotiated a new and slightly better interim patent contract with Huawei Technologies as it forecast current-quarter revenues…


Global stocks surge on Fed pledge to pause, dollar slips

NEW YORK, Jan 31 — The dollar slid and equities surged yesterday, fuelled by Boeing and Apple’s results and extended after the Federal Reserve pledged to be patient with future interest rate hikes, a change in tone that stock investors…