15 July, 2015 by The TZ Newswire Staff Comments Off on ADB cuts Asia, China 2015, 2016 growth forecasts
ADB cuts Asia, China 2015, 2016 growth forecasts
The Asian Development Bank (ADB) has cut its 2015 and 2016 growth forecasts for China and the rest of Asia, largely as a result of the slower than expected growth in the region’s largest economy and in developed economies elsewhere. Developing Asia is now expected to grow 6.1 percent and 6.2 percent this year and in 2016 against the ADB’s March forecast of 6.3 percent for both years, the bank said in its 2015 outlook supplement released on Thursday. Growth in East Asia is still seen as subdued with lower-than-forecast output across the region.
15 July, 2015 by The TZ Newswire Staff Comments Off on Carl Icahn calls BlackRock a ‘dangerous’ company, cites ETF concerns
Carl Icahn calls BlackRock a ‘dangerous’ company, cites ETF concerns
Billionaire activist investor Carl Icahn on Wednesday lambasted BlackRock Inc (BLK.N), the world’s largest asset manager, as an “extremely dangerous company” because of the prevalence of its exchange-traded fund products, which Icahn deems illiquid. “They sell liquidity,” Icahn said in reference to BlackRock’s ETF business. Icahn was speaking at the CNBC Institutional Investor Delivering Alpha Conference in New York, sharing the stage with Larry Fink, chief executive of BlackRock.
15 July, 2015 by The TZ Newswire Staff Comments Off on Intel serves up revenue, profit beat as data center business grows
Intel serves up revenue, profit beat as data center business grows
The company has been expanding its line-up of higher-margin chips used in data centers to counter slowing demand from the PC industry and agreed to buy Altera Corp (ALTR.O) for $16.7 billion in April as part of these efforts. Revenue from the data center business, Intel’s second-largest, grew 9.7 percent to $3.85 billion in the second quarter from a year earlier, helped by continued adoption of cloud services and demand for data analytics.
15 July, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Toshiba faces $3 billion in charges over accounting scandal – sources
Exclusive: Toshiba faces $3 billion in charges over accounting scandal – sources
Toshiba Corp expects 300-400 billion yen ($2.4-3.2 billion) in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday. A Toshiba spokesman said it has not yet compiled any estimates of potential charges.
15 July, 2015 by The TZ Newswire Staff Comments Off on Wild Treasuries Trading Spurs Washington’s Transparency Push
Wild Treasuries Trading Spurs Washington’s Transparency Push
The historic swings that rocked the $12.7 trillion Treasury market in October are spurring U.S. authorities to consider expanding public reporting of trading activity to government bonds.
15 July, 2015 by The TZ Newswire Staff Comments Off on Netflix Nearly Doubles Subscriber Additions In Q2
Netflix Nearly Doubles Subscriber Additions In Q2
Original series draw in viewers as the streaming company adds 3.3 million net subscribers in the second quarter, a new record.
15 July, 2015 by The TZ Newswire Staff Comments Off on Harvard-Singapore team unveil potential Parkinson’s cure
Harvard-Singapore team unveil potential Parkinson’s cure
Existing anti-malaria drugs have the ability to treat Parkinson’s disease, a team of international scientists announced on Thursday.