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China proposed new regulations on Friday that could force Internet companies such as Alibaba Group Holding Ltd, Tencent Holdings Ltd and Baidu Inc to offer their rivals’ online payment services as well as their own. China has the world’s largest Internet population and Beijing is trying to better regulate the country’s rapidly-changing Internet sector, drawing up rules for everything from censorship to cybersecurity and e-commerce. “Payment institutions should fully respect
Sharp Corp on Friday said it would exit the TV set business in the Americas and consider more steps to shore up its finances, after reporting a deeper-than-expected quarterly loss on weak sales of smartphone displays. The Japanese electronics maker said it would sell its TV manufacturing plant in Mexico and license its brand in the Americas to China’s Hisense Group. In a separate statement, Hisense said it would pay
British electricals and mobile phone retailer Dixons Carphone has agreed to sell The Phone House Portugal, further streamlining its business as it focuses on markets where it has a leading position. Following completion, expected by the end of next month, Dixons Carphone will receive a small cash consideration. Earlier this year the group sold The Phone House Netherlands and The Phone House Deutschland.
By Michael Gold TAIPEI (Reuters) – The latest chapter in the miniaturisation of increasingly smart consumer electronics lies in the hands of chip packagers, an indispensable group of firms whose role in the supply chain alone is worth $27 billion. Packagers like Taiwan’s Advanced Semiconductor Engineering Inc (ASE) receive chips from manufacturers and prepare them for device assemblers by, for instance, encasing them in metal and resin. The advent of
More than 7.4 million borrowers were still “seriously” underwater on their mortgages at the end of June, according to RealtyTrac.
At this rate, it won’t be anywhere near where economists expect it to be at the end of the year. Gross domestic product expanded at a 2.3 percent annualized rate in the second quarter, according to Commerce Department figures published Thursday. While that was an improvement over the 0.6 percent pace in the first three months of the year, it was less than economists had forecast.
Now that U.S. Federal Reserve chief Janet Yellen has made it clear she’s looking out for “some” improvement in the job market before voting for the first Fed interest rate rise in nearly a decade, so is everyone else. The challenge is that the U.S. economy is generating very little inflation – not to mention disinflation coming from China and nearly no inflation in Europe – leaving many questioning whether
Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years. Exxon reported its lowest profit since 2009 as crude prices fell twice as fast as the world’s largest crude producer by market value could slash expenses. Chevron recorded its lowest profit in more than 12 years after the market rout forced
As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market aren’t waiting around.
The European Commission said on Friday it had opened an in-depth investigation into Fedex’s (FDX.N) proposed 4.4 billion euro ($4.9 billion) takeover of Dutch rival TNT Express (TNTE.AS). The Commission, which oversees EU mergers and competition issues, said it had concerns that the merged entity would face insufficient competitive constraints in small package deliveries from the only two remaining players, UPS (UPS.N) and DHL [DHL.UL], owned by Deutsche Post (DPWGn.DE).
