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BUSINESS HEADLINES
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› Facebook's rise in profits, users shows resilience after scandals
(Reuters) - Facebook Inc shares rose on Wednesday after the social network reported a surprisingly strong 63 percent rise in profit and an increase in users, with no sign that business was hurt by a scandal over the mishandling of personal data. |
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› Comcast confirms $31 billion bid for Sky, sparking battle with Fox
LONDON/NEW YORK (Reuters) - U.S. media group Comcast submitted a 22 billion pound($30.7 billion) bid for Sky on Wednesday, prompting the European pay TV group to drop its support for a lower offer from Rupert Murdoch's Twenty-First Century Fox . |
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› GM president says near resolution for South Korea unit, union accepts wage deal
SEOUL (Reuters) - General Motors Co's president said on Thursday that it was very close to a resolution to fix its ailing South Korean unit, as its South Korean union accepted a wage deal. |
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› ZTE tells suppliers China trade row may be factor in U.S. ban: source
NEW YORK (Reuters) - China's ZTE Corp held a conference call on Wednesday with major suppliers, during which a company representative suggested the trade dispute with Beijing may have been a factor in last week's U.S. order banning American firms from selling goods to the smartphone maker, according to a person familiar with the call. |
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› Volkswagen first-quarter profit drops 3.6 percent on accounting changes
BERLIN (Reuters) - Volkswagen on Thursday posted a surprise drop in first-quarter operating profit as accounting changes, currency headwinds and technology costs weighed on group results. |
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› Asia stocks supported by Wall St., but China drags
TOKYO (Reuters) - Asian stocks were supported on Thursday by robust corporate earnings that helped Wall Street quell concerns about the surge in U.S. bond yields. However, sagging Chinese shares limited the upside potential of the market. |
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› Chevron evacuates Venezuela executives following staff arrests
(Reuters) - U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter. |
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› China considering cutting duty on imported cars by about half: Bloomberg
BEIJING/SHANGHAI (Reuters) - China is considering cutting the import duty on passenger cars by about half as part of the country's plan to further open up the automobile market, Bloomberg News reported on Thursday, citing people familiar with the matter. |
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› Deutsche Bank to scale back investment bank as profits drop
FRANKFURT (Reuters) - Deutsche Bank announced cutbacks to its bond and equities trading on Thursday in a major overhaul of its troubled investment bank, after posting a 79 percent drop in net profit in the first quarter. |
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› Shell profit soars on stronger oil prices
LONDON (Reuters) - Royal Dutch Shell on Thursday reported a 42 percent rise in first-quarter profit, its highest in over three years, boosted by higher oil prices and production. |
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