Business

Hugo Boss witnesses boom in China despite boycott call

Editorial Bureau May 5, 2021

BERLIN (GERMANY): Despite calls for a boycott of Western brands by Chinese consumers over accusations of forced labour in Xinjiang, Hugo Boss expects sales in mainland China to keep growing fast . The company known for its smart men’s suits saw first-quarter sales almost double in mainland

Business

China aims to upgrade strategic Pacific airstrip: Kiribati lawmakers

Editorial Bureau May 5, 2021

SYDNEY (AUSTRALIA) – In a bid to revive a site that hosted military aircraft during World War two, China has drawn up plans to upgrade an airstrip and bridge on one of Kiribati’s remote islands about 3,000km southwest of Hawaii, lawmakers said. The plans, which have not been made public, involve construction on the tiny […]

Business

US chip startups, sidestepped in favour of internet bets, regain momentum

Editorial Bureau May 5, 2021

OAKLAND (US) – Silicon Valley venture capitalists, long focused on software and internet companies, are again pouring money into the semiconductor industry, lured by the promise of a new generation of artificial-intelligence chips that could challenge incumbents like Intel Corp and Nvidia Corp. The new wave of semiconductor innovation will do little to address the

Business

Oil borders $70 as easing Western lockdowns bolsters summer demand outlook

Editorial Bureau May 5, 2021

LONDON (UK) -Oil prices increased for a third day on Wednesday as easing of lockdowns in the United States and parts of Europe triggered a boost in fuel demand in summer season and offset concerns regarding the rise of COVID-19 infections in India and Japan. Brent crude rose 93 cents, or 1.4%, to $69.81 a […]

Business

Mediaset eyes for European expansion post Vivendi agreement

Editorial Bureau May 4, 2021

MILAN (Reuters) -Italy’s top commercial broadcaster Mediaset, controlled by the family of former Prime Minister Silvio Berlusconi, will press on with European expansion plans after agreeing a split with its second largest investor Vivendi. Led by French billionaire Vincent Bollore, Vivendi had managed to block Mediaset’s pan-European strategy after the two

Business

Pandora to make ‘diamonds for everyone’

Editorial Bureau May 4, 2021

COPENHAGEN (DENMARK) – Pandora has informed that it will from now on stop selling mined diamonds and focus on more affordable, sustainable, lab-grown gems. The jewellery maker is best know for its silver charm bracelets, will , “Diamonds are not only forever, but for everyone,” Pandora Chief Executive Alexander Lacik said as the Danish company […]

Business

Saudi Aramco surpasses Q1 profit forecast, retains dividend as oil rebounds

Editorial Bureau May 4, 2021

DUBAI (UAE) -Saudi Arabian state oil producer Aramco on Tuesday surpassed analysts’ forecasts with a 30% rise in first-quarter net profit. It maintained its dividend payout, bolstered by strong oil prices. Earnings by global energy companies such as Exxon Mobil have increased on the back of crude oil prices, which have risen by about a […]

Business

Warren Buffett says US economy’s unforeseen strength has helped Berkshire

Editorial Bureau May 2, 2021

Warren Buffett said on Saturday that Berkshire Hathaway Inc is being removed by a US economy showed performances far better than his predictions early in the coronavirus pandemic, in spite of investor euphoria making it hard to deploy cash. Speaking at Berkshire’s annual meeting, Buffett said the economy has been “resurrected in an extraordinarily effective

Business

Volkswagen estimates tight chip supply in coming months

Editorial Bureau May 1, 2021

FRANKFURT (GERMANY) – Volkswagen expects semiconductor supplies to the car sector to continue to be tight in coming months, the head of the carmaker’s namesake brand was quoted as saying on Saturday. “I think the situation will remain tense,” Ralf Brandstaetter, CEO of the Volkswagen brand and member of the carmaker’s management board, told

Business

Berkshire operating profit climbs up, buys back more stock

Editorial Bureau May 1, 2021

Warren Buffett’s Berkshire Hathaway Inc on Saturday said first-quarter operating profit climbed up to 20%. It saw an extension of its recent aggressive stock repurchases by buying back $6.6 billion of its own stock. Operating profit increased to $7.02 billion, from $5.87 billion a year earlier. Berkshire also reported net income of $11.71 billion, or […]