04302016Sat
Last update: Sat, 30 Apr 2016 11pm

Business & Finance - Industries & Sectors

Kia Motors Q1 profit up on SUV demand, weaker won SEOUL: Kia Motors Corp., South Korea's second-largest automaker, posted a solid first-quarter net profit on Wednesday on the back of a weaker Korean won and strong demand for its SUVs and motorhomes.Net profit stood at 944.6 billion won ($822.7 million) during the January-March period, up 4.6 percent from a year earlier, the company said in a regulatory filing."Profits have greatly increased thanks to the won's depreciation, popularity of new models such as Sportage (SUV) ... and a greater share of RVs (motorhomes) in our product line-up," it said.Operating profit jumped 23.8 percent on-year to 633.6 billion won on sales of 12.65 trillion won, up 13.2 percent from the previous year.Kia Motors, along with the country's largest automaker Hyundai motor, forms the world's fifth-largest automaking group.Hyundai on Tuesday posted an 11.6 percent on-year drop in net profit for January to March.Copyright AFP (Agence France-Presse), 2016


Business & Finance - Industries & Sectors

First drop in iPhone sales, Apple revenue streak ends SAN FRANCISCO: Apple on Tuesday reported its first-ever drop in iPhone sales since launching the smartphone in 2007 as the tech giant's long streak of rising revenue ended.Apple said iPhone sales dropped year-over-year for the first time, slipping to 51.19 million units in the recently ended quarter compared with 61.17 million in the same period a year ago.Profits fell as well: Apple reported net income of $10.5 billion in the fiscal quarter to March 26 ...

Business & Finance - Industries & Sectors

US looks into Google edge on Android SAN FRANCISCO: The US is looking into whether free Android mobile software is giving an unfair advantage to other Google offerings such as its search engine, the Wall Street Journal reported Tuesday.Federal Trade Commission (FTC) staffers have met with companies in recent months about concerns that Alphabet-owned Google is abusing the dominant position of Android software for powering smartphones or tablets, according to the Journal.Concerns at issue are similar to some targeted by European Union ...

Business & Finance - Industries & Sectors

Packing a punch online, Daily Mail moves for Yahoo LONDON: Shortlisted as a potential buyer of US Internet giant Yahoo, the Daily Mail has made an online empire out of the kind of content readers can't resist clicking on.The parent company of the tabloid founded in 1896, Daily Mail and General Trust (DMGT), confirmed this month that it is in talks with interested parties regarding a bid for the struggling Yahoo.Though DMGT boasts revenue of some £1.8 billion ($2.6 billion, 2.3 billion euros), it ...

Business & Finance - Industries & Sectors

Comcast in talks to acquire Dreamworks for $3bn: report SAN FRANCISCO: US cable operator Comcast is in talks to acquire "Shrek" and "Kung Fu Panda" studio DreamWorks Animation for more than $3 billion, The Wall Street Journal reported late Tuesday.Comcast already owns the Universal Pictures film studio and DreamWorks would likely be merged with it if the deal goes through, the Journal reported, citing people who are familiar with the matter.A DreamWorks spokesman declined to comment to AFP, while Comcast did not immediately respond ...

Business & Finance - Industries & Sectors

Adidas raises full-year forecast after strong Q1 FRANKFURT: Adidas, the German maker of sportswear and equipment, said Wednesday that it is raising its full-year forecasts after notching up better-than-expected growth in the first three months."In light of the strong brand momentum, which is reflected in the better than expected first quarter performance, the group has increased its 2016 financial outlook," Adidas said in a statement."Management now projects sales to grow at a rate of around 15 percent in 2016," when adjusted for ...

Business & Finance - Banking & Finance

Barclays says Q1 profits dip, seeks to sell French unit LONDON: British bank Barclays posted sliding profits Wednesday, hit by losses in non-core units that it is seeking to offload, and revealed talks to sell its French retail operations.Earnings after taxation declined seven percent to £433 million ($630 million, 558 million euros) in the three months to March, Barclays said in a results statement. That compared with net profit of £465 million last time around.Pre-tax profits however sank 25 percent to £793 million, hit also ...