04302016Sat
Last update: Sat, 30 Apr 2016 08am

Industries & Sectors

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 exchange rate fluctuations, whereas Adidas had previously been pencilling in growth of between 10 and 12 percent, the statement said."As a result, net income from continuing operations is now forecast to grow at a faster rate than the top line and increase between 15 and 18 percent," compared with an earlier forecast of 10-12 percent, it continued. In the first three months of the current year, Adidas sales were up 22 percent in currency-adjusted terms ...

Business & Finance - Industries & Sectors

Google accused of 'promoting piracy' Google has been accused for promoting piracy, by a US based photography agency Getty Images, adding to the woes of the embattled search engine.According to Times, the photography agency in its complaint to the European Union’s antitrust commission says, Google Images, Google’s search engine for image content displays full-screen slideshows of its copyrighted images. Such practice has undermined the image agency business. Getty Images, general counsel, Yoko Miyashita, says, “Getty Images represents over 200,000 photojournalists, ...

Business & Finance - Industries & Sectors

Tech industry titans urge US to better fund science ed SAN FRANCISCO: Jeff Bezos, Tim Cook and Mark Zuckerberg were among tech titans who joined school officials, non-profits and state leaders to urge the US government to better back teaching computer science.The heads of Amazon, Apple and Facebook were among powerhouse names Tuesday on an open letter as well as a petition online at change.org calling for the US to become a leader in computer science education in public schools."Whether a student aspires to be ...

Business & Finance - Industries & Sectors

Twitter stung by stall in user growth SAN FRANCISCO: Twitter shares nosedived Tuesday after a quarterly update showed little change in its user base and the messaging platform delivered weaker-than-expected revenue growth.The company posted a loss for the first quarter of 2016 of $80 million, compared with a loss of $162 million in the same period a year ago. Revenues meanwhile jumped 36 percent year-over-year to $595 million.But in a key metric in the fast-evolving social media world, Twitter's trend was flat. ...

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 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 from ...

Business & Finance - Industries & Sectors

Fiat Chrysler net profits rev up but debt builds MILAN: Fiat Chrysler Automobiles (FCA) Tuesday beat analysts' forecasts with significantly higher first-quarter net profits driven by sales in North America but the Italian-US automaker's debt pile also rose. The results were FCA's first as a single, unified global group since its January's split from luxury unit Ferrari.Helped by the sale of Ferrari, FCA said it had reduced net industrial debt "significantly" in 2015 to 5 billion euros ($5.6 billion), down from the 7.7 billion ...

Business & Finance - Industries & Sectors

Google, Uber in coalition to promote self-driving cars SAN FRANCISCO: Google and Uber are part of a coalition unveiled on Tuesday to push for a unified US legal code on self-driving cars as part of a broader lobbying drive to promote that technology.Car makers Ford and Volvo along with ride-sharing start-up Uber's rival Lyft rounded out a roster of five founding members of the Self-Driving Coalition for Safer Streets.Former US National Highway Traffic Safety Administration administrator David Strickland was named as coalition counsel ...