Sat05282016

LAST_UPDATESat, 28 May 2016 9am

AirAsia Post Impressive Q1 Results

KUALA LUMPUR: Malaysia-based AirAsia on Thursday announced a first-quarter net profit of RM878 million  (US$216 million) due to lower fuel costs and growth in passenger volume.

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Wall Street Hits ‘Pause’ After Two-Day Surge

Wall Street treaded water on Thursday following two days of strong gains as advancing utilities offset declines in materials, banks and other cyclical industries.

Read more: Wall Street Hits ‘Pause’ After Two-Day Surge

Google Wins In Retrial Of Oracle Copyright Lawsuit

A jury ruled Thursday that Google did not unfairly use parts of Java programming language, saving the tech giant from a possible multibillion-dollar verdict in a lawsuit brought by business software firm Oracle.

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U.S. Panel Launches Trade Secret Theft Probe Into China Steel

Stacks of rebar await delivery at Shanxi Zhongsheng Iron and Steel in Fenyang, Shanxi Province, China, April 28, 2016. REUTERS/JOHN RUWITCH/FILE PHOTO

U.S. regulators on Thursday launched an investigation into complaints by United States Steel Corp (X.N) that Chinese competitors stole its secrets and fixed prices, in the latest trade spat between the two countries.

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G7 Vows Growth, Fudges FX, Frets North Korea, Russia, China

Leaders attend the the first Outreach Session during the second day of the Group of Seven (G7) summit meetings in Ise Shima, Japan, May 27, 2016. REUTERS/JIM WATSON/POOL

The Group of Seven industrial powers pledged on Friday to seek strong global growth, while papering over differences on currencies and stimulus policies and expressing concern over North Korea, Russia and maritime disputes involving China.

Read more: G7 Vows Growth, Fudges FX, Frets North Korea, Russia, China

Tiffany's 'Old-World Luxury' Fails To Charm Millennials

The Tiffany & Co. logo is seen on an awning of their store in Manhasset, New York, U.S., May 23, 2016. REUTERS/SHANNON STAPLETON

For Alan Feid, a 28-year-old looking to buy an engagement ring for his fiancée, the rings he found in the diamond district in Manhattan were just as good as the ones he saw at Tiffany & Co's (TIF.N) flagship store on Fifth Avenue. And they cost less than half the price.

Read more: Tiffany's 'Old-World Luxury' Fails To Charm Millennials

Asia Stocks Edge Up After Upbeat U.S. Data, Dollar Sags

Employees of Tokyo Stock Exchange work at the bourse after the New Year opening ceremony at the Tokyo Stock Exchange (TSE), held to wish for the success of Japan's stock market, in Tokyo, Japan, January 4, 2016. REUTERS/YUYA SHINO/FILES

Asian stocks pulled ahead on Friday after patches of U.S. data continued to paint the world's largest economy in a positive light, while the dollar was on the defensive against its major peers.

Read more: Asia Stocks Edge Up After Upbeat U.S. Data, Dollar Sags

BSI Says Bank's New Management Not Linked To 1MDB

Pic: Bloomberg

GENEVA: The newly appointed chief executive of Swiss bank BSI, which has been ordered to shut down over its alleged role in a massive Malaysian money-laundering scandal, insisted Thursday the current management was not implicated in the case.

Read more: BSI Says Bank's New Management Not Linked To 1MDB

El Salvador Congress Approves $152 Million Bond Issue To Tackle Gangs

 El Salvador's Congress on Thursday approved a bond issuance of $152 million (103 million pounds) to finance a series of measures aimed at tackling endemic gang violence in the poor Central American country.

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Brexit Would Be Serious Risk To Global Economic Growth: G7 Leaders

Pic: ReutersISE-SHIMA, JAPAN: A British exit from the European Union would be a serious risk to global economic growth, Group of Seven leaders said in a summit declaration on Friday, although German Chancellor Angela Merkel said the issue had not been discussed.

Read more: Brexit Would Be Serious Risk To Global Economic Growth: G7 Leaders