4 February, 2015 by The TZ Newswire Staff Comments Off on Saudi Fin Min: We’re OK with cheap oil for ‘some time’
Saudi Fin Min: We’re OK with cheap oil for ‘some time’
Saudi Arabia will continue to dip into its cash reserves to temper the ongoing storm in oil markets, the country’s finance minister told CNBC.
4 February, 2015 by The TZ Newswire Staff Comments Off on ABB profit rise tempered by dollar strength
ABB profit rise tempered by dollar strength
Swiss engineer ABB reported a smaller-than-expected rise in quarterly profit, blaming an appreciation of the U.S. dollar.
4 February, 2015 by The TZ Newswire Staff Comments Off on Currencies: Euro remains weak after ECB steps on Greece
Currencies: Euro remains weak after ECB steps on Greece
The euro remains weak against rival currencies in Asia, weighed by renewed risk after the ECB plays hard ball with Greece.
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4 February, 2015 by The TZ Newswire Staff Comments Off on Asia stocks, euro hit as ECB takes hard line on Greek debt
Asia stocks, euro hit as ECB takes hard line on Greek debt
Asian stocks were mostly lower and the euro slipped on Thursday after the European Central Bank said it would not accept Greek bonds as collateral – a robust early response to Athens’s efforts to renegotiate bailout terms with creditors. Japan’s Nikkei (.N225), which surged 2 percent on Wednesday, dropped 0.8 percent.
4 February, 2015 by The TZ Newswire Staff Comments Off on Buffett tells Fox Business he wants a company in Europe
Buffett tells Fox Business he wants a company in Europe
Billionaire investor Warren Buffett said on Wednesday he is likely to buy a small business in Western Europe and he would like to buy more businesses abroad. “We’d like to buy more businesses around the world,” Buffett, the head of conglomerate Berkshire Hathaway Inc, said in an interview with Fox Business Network. Over the past 50 years, Berkshire has bought dozens of companies in sectors ranging from insurance to railroads.
4 February, 2015 by The TZ Newswire Staff Comments Off on Fox says dollar, shifting viewers to weigh on 2016 profit
Fox says dollar, shifting viewers to weigh on 2016 profit
Shares of the company, helmed by media mogul Rupert Murdoch, fell 6 percent to $32.57 in extended trading on Wednesday. Fox expects a profit in “the mid $7 billion range” for the financial year ending June 2016, Chief Operating Officer Chase Carey said after the company reported quarterly results. Fox had previously forecast 2016 profit of about $8 billion. “We anticipate the industry trends impacting advertising will be slightly larger than previously expected, as both advertising and viewership continues to migrate to digital platforms,” Carey said on a conference call with analysts.
4 February, 2015 by The TZ Newswire Staff Comments Off on U.S. West Coast shippers invoke specter of port shutdowns
U.S. West Coast shippers invoke specter of port shutdowns
The chief labor negotiator for shippers and terminal operators at 29 U.S. West Coast ports raised the ante in contract talks with the dockworkers’ union on Wednesday, warning that ports plagued by chronic cargo slowdowns were days away from complete gridlock. L.A. port spokesman Phillip Sanfield called the levels of congestion unprecedented, and said it would take weeks to clear the cargo backlog once operations returned to normal.