Business  July 26, 2016
Global stocks steady before US rate talks
Tokyo stocks ended down 1.4 percent at 16,383.04, bucking the trend in Asian markets as investors await the outcome of JapanEuropean stocks tentatively rose and Wall Street was little-changed Tuesday as investors adopted a wait-and-see approach on the eve of a US interest rate decision and oil prices weakened.London increased 0.3 percent as dealers also awaited Wednesday's British economic growth data and a Bank of England interest rate call next week. Frankfurt stocks ...  Full Story
French state to pump 3 bn euros into EDF
Renovations to extend the life of EDFFrance will pump 3 billion euros into state-controlled electricity company EDF, shareholders decided Tuesday, two days before it is expected to give the final green light to the controversial construction of two nuclear reactors in Britain.At an extraordinary meeting, shareholders approved a 4-billion increase in share capital, of which the French ...  Full Story
Oil hits three-month low on supply glut
Oil prices fell on reports of rising supplies at the key transit hub of Cushing, Oklahoma, in the United StatesNew York oil prices slid Tuesday to a new three-month low, as the market was dogged by resurgent fears over stubborn oversupply. At about 0800 GMT, prices for benchmark West Texas Intermediate (WTI) crude quoted in New York dived as low as $42.59 per barrel, while Brent crude approached a similar level at $44.28.The market was weighed down by repor...  Full Story
Canon slashes profit forecast on strong yen
JapanCanon chopped its annual profit forecast Tuesday as the camera and copier maker warned that a sharp rise in the yen was taking a bite out of its bottom line.The company said it now expected weaker sales and a net profit of 180 billion yen ($1.7 billion) this year, down 10 percent from a previous forecast that had also been downgraded due to slowing...  Full Story
Brewer AB InBev raises offer for SABMiller after pound dive
Bottles of beer and cider produced by the Belgian-Brazilian group Anheuser-Busch InBev and British brewer SABMiller The world's top brewer Anheuser-Busch InBev raised its offer for rival SABMiller on Tuesday after a major slump by the British pound due to the Brexit vote threw the blockbuster deal into doubt.Angry shareholders of London-based SABMiller were increasingly resisting the giant buyout, which before the Brexit vote was valued as much as $121 billion. ...  Full Story
Sale sweetens Orange's earnings
French telecoms group Orange says its net profit nearly tripled in the first half of the year, due primarily to the sale of British operator EEFrench telecommunications group Orange said Tuesday its net profit nearly tripled in the first half of the year to 3.2 billion euros ($3.5 billion), due primarily to the sale of British operator EE.With accelerating uptake of fourth-generation (4G) mobile and fast broadband connections as well as increased sales, Orange's chief executive said the c...  Full Story
BP logs $1.4 bn loss, draws line under oil disaster
British energy giant BP faces fresh losses in Q2 2016 on new charges arising from the devastating 2010 Gulf of Mexico oil spill disasterBP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said on Tuesday.The company posted a loss after taxation of $1.4 billion (1.3 billion euros) for the three months to June, which however compared with a far larger loss of $5.8 billion for the second qu...  Full Story
Hyundai Motor Q2 profit hit by slow emerging market sales
Hyundai MotorCurrency swings and slumping sales in emerging markets took a further toll on South Korea's Hyundai Motor, which reported Tuesday a drop in net profit for the 10th consecutive quarter.Hyundai -- along with its smaller affiliate Kia -- forms the world's fifth-largest automaking group.Net profit for April-June amounted to 1.76 trillion won ($1.55 bil...  Full Story
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