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Samsung Electronics warns of political risks as chips boost Q4 profit
Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival … Original post: Samsung Electronics warns of political risks as chips boost Q4 profit Read More →
Foxconn CEO says investment for display plant in U.S. would exceed $7 billion
Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, company chairman and chief executive Terry … Read the original post: Foxconn CEO says investment for display plant in U.S. would exceed $7 billion Read More →
China says can resolve trade disputes with new U.S. government
China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticised China's trade practices and threatened to impose punitive tariffs on Chinese imports… Original... [Read more]
Samsung chief questioned behind closed doors in arrest warrant hearing
A South Korean judge questioned Samsung Group leader Jay Y. Lee behind closed doors on Wednesday to decide whether he should be arrested over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye. Lee, 48, in dark overcoat and purple necktie, did … Read the original: Samsung chief questioned behind closed doors in arrest warrant hearing Read More →
Businesses can unlock $12 trillion via key development goals: Davos study
Companies could unlock at least $12 trillion in market opportunities by 2030 and create up to 380 million jobs by implementing a few key development goals, according to a study by a group including global business and finance leaders. Here is the original post: Businesses can unlock $12 trillion via key development goals: Davos study Read More →
Allianz’s El-Erian says strong U.S. dollar biggest risk in 2017
Global growth could be better than expected in 2017, though many uncertainties remain that could impact expansion, with the biggest of them being steep gains in the U.S. currency, Allianz's Mohamed A. El-Erian said on Monday. The outlook for the global economy in 2017 will be similar to that for 2016, but with an upside risk, with the world expanding below 3 percent and the U.S. economy outperforming... [Read more]
Luxottica and Essilor agree 46 billion euro merger to create eyewear giant
By Valentina Za and Sudip Kar-Gupta MILAN/PARIS (Reuters) – Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global powerhouse in the eyewear industry with annual revenue of more than 15 billion euros, they… Here is the original post: Luxottica and Essilor agree 46 billion euro merger to create eyewear giant Read More →
Trump threatens German carmakers with 35 percent U.S. import tariff
Shares in German carmakers BMW , Daimler and Volkswagen fell after United States President-elect Donald Trump warned he will impose a border tax of 35 percent on vehicles imported from abroad to the U.S. market. All three carmakers have invested heavily in factories in Mexico, where production costs are lower than the United Original post: Trump threatens German carmakers with 35 percent U.S. import... [Read more]
Takata to plead guilty, pay $1 billion U.S. penalty over air bag defect
DETROIT/WASHINGTON (Reuters) – Japan's Takata Corp on Friday agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide. The deal was announced hours after prosecutors in Detroit charged three former senior Takata executives … See the original post... [Read more]
Moody’s pays $864 million to U.S., states over pre-crisis ratings
Moody's Corp has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Friday. The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia, resolving allegations that the firm contributed... [Read more]