29 July, 2015 by The TZ Newswire Staff Comments Off on Asian shares, dollar up on Fed’s optimism; earnings in focus
Asian shares, dollar up on Fed’s optimism; earnings in focus
Asian stocks tiptoed higher on Thursday and the dollar consolidated recent gains after the U.S. Federal Reserve painted a relatively bright picture of the economy, but a deepening sell-off in commodities kept gains in check. Prospects of stronger U.S. growth in coming months lifted Asian stocks in early trade, with Japan’s Nikkei (.N225) up 1.1 percent and Australian shares (.AXJO) adding 0.8 percent. A dollar-denominated index of Asia-Pacific shares outside Japan rose 0.2 percent after Chinese stocks had a quiet opening.
29 July, 2015 by The TZ Newswire Staff Comments Off on Facebook profit falls 9 percent as costs soar
Facebook profit falls 9 percent as costs soar
“We’re investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus,” Chief Operating Officer Sheryl Sandberg said in an interview on Wednesday after the earnings report. Messenger has more than 700 million users, and the app has been downloaded more than 1 billion times on Android, Google Inc’s mobile operating system, Facebook said.
29 July, 2015 by The TZ Newswire Staff Comments Off on Toshiba scandal puts focus on Japan’s cut-price company audits
Toshiba scandal puts focus on Japan’s cut-price company audits
Toshiba Corp’s years-long practice of inflating its profits has raised questions among accounting experts about whether low fees paid by Japan-listed companies to their auditors mean they do not spend enough time scrutinizing company accounts. Toshiba chief executive Hisao Tanaka and a string of other senior officials resigned last week after an independent inquiry found the company had padded its profits by $1.2 billion over several years, in one of Japan’s biggest corporate scandals in years.
29 July, 2015 by The TZ Newswire Staff Comments Off on Exclusive: FCA’s Chrysler group faces U.S. product drought through 2016
Exclusive: FCA’s Chrysler group faces U.S. product drought through 2016
Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company’s plans. While the Italian-American automaker said it will bring three new sports models from Italy to the United States in the coming year, it plans to introduce only one all-new vehicle developed and built in North America: A redesigned Chrysler Town and Country minivan that is due next spring.
29 July, 2015 by The TZ Newswire Staff Comments Off on Weak home purchase contracts hint at pause in sales activity
Weak home purchase contracts hint at pause in sales activity
The decline in contracts, which came on the heels of reports showing the pace of home price appreciation stalling in major cities and new home sales dropping, did little to change perceptions that the housing market recovery was on track given a tightening labor market. It is important to bear in mind that there is still plenty of fundamental support for the housing market,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto.
29 July, 2015 by The TZ Newswire Staff Comments Off on ITG sets aside $20.3 million related to dark pool investigation
ITG sets aside $20.3 million related to dark pool investigation
Broker dealer Investment Technology Group said on Wednesday it set aside $20.3 million for a probable settlement with the U.S. Securities and Exchange Commission over rule violations related to its private stock trading venue. ITG said the SEC was investigating a test program one of the firm’s subsidiaries ran from 2010 until mid-2011 that involved proprietary trading inside of ITG’s POSIT dark pool against some of its broker clients that the firm did not disclose.
29 July, 2015 by The TZ Newswire Staff Comments Off on Boeing may move work abroad with Ex-Im future uncertain: chairman
Boeing may move work abroad with Ex-Im future uncertain: chairman
Boeing Co (BA.N) Chairman Jim McNerney on Wednesday said the aircraft maker is actively looking at moving “key pieces” of its operations to other countries given uncertainty about the future of the Export-Import Bank, whose charter expired on June 30. McNerney, who retired as the company’s chief executive on July 1, said Boeing might consider sites in countries that offer export credits, but gave no details about which operations could be affected or when the company had launched its review.