4 February, 2016 by The TZ Newswire Staff Comments Off on Asia edges up on Wall Street gains, dollar wobbles before U.S. jobs data
Asia edges up on Wall Street gains, dollar wobbles before U.S. jobs data
Asian equities edged up on Friday, taking early inspiration from an overnight rise on Wall Street, while the dollar wobbled ahead of the closely watched U.S. jobs report. U.S. stocks eked out a second straight day of gains on Thursday as a weaker dollar helped materials shares by lifting commodity prices, though disappointing forecasts from retailers and anxiety ahead of Friday’s non-farm jobs report limited the advance.
4 February, 2016 by The TZ Newswire Staff Comments Off on Fed’s Mester unmoved, says U.S. to overcome ‘soft patch’
Fed’s Mester unmoved, says U.S. to overcome ‘soft patch’
The U.S. economy remains sound and will overcome recent market turbulence, allowing the Federal Reserve to continue tightening its monetary policy as planned, a top Fed official said on Thursday. Cleveland Fed President Loretta Mester said that while the global selloff in stocks and oil markets through January poses risks, she is not about to cut her expectations of continued U.S. economic growth and labor market improvement. The comments, which echoed those this week of Fed Vice Chairman Stanley Fischer, suggested there is a camp within the U.S.
4 February, 2016 by The TZ Newswire Staff Comments Off on LinkedIn forecasts weak first-quarter profit, shares plunge
LinkedIn forecasts weak first-quarter profit, shares plunge
LinkedIn developed the product, Lead Accelerator, from technology it acquired with the purchase of marketing company Bizo in 2014 for $175 million. LinkedIn’s revenue from ads on its website rose 20 percent in the fourth quarter, but the growth was the slowest in two years. LinkedIn forecast an adjusted profit of about 55 cents per share for the first quarter, way below the average analyst estimate of 74 cents, according to Thomson Reuters I/B/E/S.
4 February, 2016 by The TZ Newswire Staff Comments Off on News Corp’s revenue falls for fourth quarter in a row
News Corp’s revenue falls for fourth quarter in a row
Newspaper and magazine publishers have been under unabated pressure to offset a decline in print advertising dollars by shoring up their digital business to attract advertisers and by boosting subscriptions. News Corp, controlled by media mogul Rupert Murdoch, said revenue at its news and information unit declined 8.1 percent in the second quarter. The unit, which accounted for about 65 percent of total revenue, also houses Dow Jones and the New York Post.
4 February, 2016 by The TZ Newswire Staff Comments Off on U.S. House approves limits on investigating banks for fraud ties
U.S. House approves limits on investigating banks for fraud ties
The U.S. House of Representatives passed legislation on Thursday that would curb a Justice Department initiative aimed at cutting off perpetrators of fraud from the banking system. Since 2012 the department, with the help of regulatory agencies, has investigated banks and third-party processors in the United States that do business with companies they believe run a higher risk of fraud. The goal of the program, frequently called “Operation Choke Point,” has been to hold banks accountable while sniffing out law breakers, according to the department.
4 February, 2016 by The TZ Newswire Staff Comments Off on Foxconn offers to invest around $5.6 billion in Sharp: sources
Foxconn offers to invest around $5.6 billion in Sharp: sources
Taiwan’s Foxconn has offered to invest around 659 billion yen in struggling Japanese electronics maker Sharp Corp, two sources with knowledge of the matter said. Sharp has chosen Foxconn as its preferred …
4 February, 2016 by The TZ Newswire Staff Comments Off on Unpaid and angry, some Chinese workers ditch holidays to protest
Unpaid and angry, some Chinese workers ditch holidays to protest
QIAN’AN/DONGGUAN, China (Reuters) – This year, laborer Fan Fu and 20 or so colleagues working on the Zixia Garden apartment complex in Hebei province have not joined China’s legion of migrant workers returning home to celebrate new year with their families. Instead, they have camped in the offices of the property developer’s subcontractor, demanding almost a year’s unpaid wages and too angry and proud to go back to native towns and villages empty-handed.