AFP
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Tokyo tanks as Asian markets track Wall St down on recession fears
Tokyo led losses across Asia on Friday due to a stronger yen and expectations for more Japanese rate hikes, while disappointing data sparked a plunge on Wall Street and fuelled fresh fears of a US recession. And Asia fared just as poorly, with Tokyo the standout.
Slow down to save the planet, says Japan's rock star philosopher Saito
As Tokyo's millions put in another day's work on the coalface of capitalism, celebrity Marxist philosopher Kohei Saito and his friends are clearing rocks from a muddy mountain stream. The associate professor at the University of Tokyo has sold half a million copies of his latest book and last month spoke at music festival Fuji Rock, headlined by The Killers.
Snapchat gains users but continues to lose money
Snap shares plunged more than 16 percent on Thursday when a disappointing financial outlook eclipsed a rise in users of the image-centric social network Snapchat. Snap shares were down more than 16 percent to $10.73 in after-market trades.
Intel says it will slash workforce to cut costs
US chip maker Intel said Thursday it will slash more than 15 percent of its workforce as it streamlines operations. In June, Intel announced it was halting the expansion of a major factory project in Israel, which was going to pump an extra $15 billion towards a chip plant.
Amazon quarterly profit doubles as cloud business grows
Amazon reported Thursday its profit in the recently ended quarter doubled to $13.5 billion with the help of renewed momentum of its AWS cloud computing business. AWS had 31 percent of the cloud computing market at the end of 2023, according to Stocklytics.
British Airways parent IAG drops bid for Air Europa
Airline giant IAG, owner of Spanish airline Iberia and British Airways, said Thursday it had dropped its bid to buy Spain's Air Europa due to the "current regulatory environment". IAG, which also owns Spain's low-cost carrier Vueling and Ireland's Aer Lingus, had in February 2023 said it was to acquire Air Europa for 500 million euros from Globalia, its Spanish owner, pending regulatory approval.
'I'm leaving': Maduro victory sparks fears of new exodus of Venezuelans
A despondent Jose Vasquez, 31, has decided to join a mass exodus of Venezuelans seeking a better life elsewhere, having lost all hope in his future with the contested reelection of President Nicolas Maduro. "I think, and I hope I'm wrong, that the flow of Venezuelans is going to increase for obvious reasons," Panamanian President Jose Raul Mulino said Monday.
French cabbies seek payout for lost Olympics revenue
French taxi drivers on Thursday demanded government compensation for lost revenue during the Olympic Games as traffic disruptions and fewer regular clients weigh on demand. The unions demanded the creation of a "compensation fund" that they said should cover income lost for the seven-month period during which public spaces were being taken over for the Games.
Maersk ups profit target by $2bn on Red Sea shipping woes
Danish shipping giant Maersk said Thursday it expects its underlying profit in 2024 to be $2 billion higher than its previous forecast as freight rates have increased amid the crisis in the Red Sea. The Danish company said it was now expecting its operating profit (earnings before interest, taxes, depreciation, and amortisation or EBITDA) to come in at between $9 and $11 billion for the full year.
AFP
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