01242017Tue
Last update: Tue, 24 Jan 2017 04am

Business & Finance - Industries & Sectors

Yahoo revenue rises 15.4 pct amid Verizon deal uncertainty Yahoo Inc reported a 15.4 percent rise in quarterly revenue on Monday, ahead of a proposed sale of its core internet business to Verizon Communications Inc .The fate of the deal was thrown into doubt after Yahoo disclosed two major data breaches last year.The company said on Monday that it was continuing to work with Verizon on the sale, and added that the deal was now expected to close in the second quarter.The deal was earlier expected to close in the first quarter.The internet pioneer said in December it had uncovered a massive cyber attack in 2013 affecting more than 1 billion user accounts, double the number compromised in a 2014 breach that Yahoo disclosed in September.Verizon executives have said they see a strong strategic fit with Yahoo and will review the impact of the data breaches, but sources have told Reuters that the deal terms could be renegotiated.Yahoo's revenue ...


Business & Finance - Managed Funds

Italian yields hit six-week high, safe-haven Bund yields fall on Trump LONDON: Italian government bond yields hit six-week highs on Monday, bucking a broader fall in euro zone debt yields, before a hearing on the legitimacy of new electoral law.Germany led most euro zone bond yields lower as new U.S. President Donald Trump's early tone injected a dose of uncertainty into world markets, lifting demand for safe-haven debt.But in Italy, caution crept in before Tuesday's Constitutional Court hearing on a disputed electoral law.The referendum rejected by ...

Business & Finance - Banking & Finance

Protectionism is a 'bad idea' PARIS: European Central Bank Executive Board member Benoit Coeure said on Monday that economic protectionism was a bad idea, as he commented on new US President Donald Trump, who has backed protectionist policies. "Protectionism, at this current moment, is clearly a bad idea," Coeure told France's Radio Classique, while adding it was too early to comment more specifically because the newly inaugurated US head of state had yet to clarify his precise economic policies.Coeure also ...

Business & Finance - Industries & Sectors

Samsung blames Galaxy Note 7 fires on faulty batteries SEOUL: The world's biggest smartphone maker Samsung blamed faulty batteries on Monday for the fires that led to last year's humiliating recall of its flagship Galaxy Note 7 device.Samsung Electronics was forced to discontinue the smartphone, originally intended to compete with Apple's iPhone, after a chaotic recall that saw replacement devices also catching fire.The debacle cost the South Korean company billions in lost profit and reputational damage, in a torrid period which has also seen ...

Business & Finance - Industries & Sectors

Indian regulator may bolster rules on removing company directors MUMBAI: India's market regulator is looking to tighten regulations related to the appointment and removal of directors from company boards amid an ongoing spat between the Tata group and its ousted chairman Cyrus Mistry, CNBC-TV 18 cited sources as saying on Sunday. The news channel did not provide much detail on the steps it said were being considered by the Securities and Exchange Board of India (SEBI). The bitter boardroom battle between Tata Sons and ...

Business & Finance - Industries & Sectors

Foxconn CEO says investment for display plant in US would exceed $7bn TAIPEI: 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 Gou said on Sunday. The plans, which would be carried out with its unit Sharp Corp, still depend on many factors such as investment conditions that would have to be negotiated at the US state and federal levels, Gou told reporters on ...

Business & Finance - Managed Funds

Russia's Rusal looks for benchmark size Eurobond issue MOSCOW: Russian aluminium giant Rusal is looking for a benchmark size for its debut US-dollar denominated Eurobond issue, two financial market sources told Reuters. On Friday, Rusal started investor meetings in Europe, North America and Asia testing appetite for its planned Eurobond issue which will have a tenor of up to five years.For a company of Rusal size, benchmark size starts from $500 million. The company plans to use proceeds from the Eurobond issue to ...