Saturday, 18 August 2018

Business

TSMC says third-quarter revenue hit by computer virus

TAIPEI: A computer virus outbreak has hit third-quarter results at Taiwan Semiconductor Manufacturing Company Ltd, the world’s largest contract chipmaker, the company said on Sunday. On Saturday, TSMC, a major supplier for Apple Inc, said that a number of its computer systems and fab tools had been infected by a ...

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Stellar EU banks’ performance won’t last

PARIS: European banks may have managed to generate surprisingly solid earnings in the second quarter, but low interest rates, Brexit fears and trade war woes make a repeat performance unlikely, analysts say. Big names BNP Paribas, Barclays, Intesa Sanpaolo, Credit Suisse and BBVA all wrongfooted sector experts with results exceeding ...

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NASA is ready to launch its first mission to the Sun

LONDON: NASA’s Parker Solar Probe, which is humanity’s first mission to the Sun, has cleared the final procedures ahead of its launch on August 11. “NASA’s Parker Solar Probe has cleared the final procedures in the clean room before its move to the launch pad, where it will be integrated ...

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World’s precious metal set to blossom

LONDON: The world’s most expensive precious metal is set to get even pricier as a mining retreat in South Africa threatens a supply shortage. Rhodium – a byproduct of platinum mining that’s used in the chemical sector and by the auto industry in catalytic converters – has more than trebled ...

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Iran Air to receive 5 ATR planes before US sanctions

TEHRAN: Iran Air said Saturday it was set to take delivery of five new planes from Franco-Italian firm ATR just before renewed US sanctions go into effect. “Based on existing agreements, five new ATR aircraft will land at Mehrabad Airport at 9 am (0430 GMT) tomorrow (Sunday),” the national carrier ...

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Sony’s movie business takes a $1 billion hit

TOKYO: Sony Corp will write down the value of its movie business by nearly $1 billion in the third quarter, blaming weaker film profits as online streaming services sap demand for movie DVDs. In a statement, the Japanese TV-to-gaming group said it had cut its outlook for earnings from DVD, ...

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EU drugs agency to see 30% staff losses over Brexit move

The European Medicines Agency (EMA) is to scale back operations further as it copes with higher than expected staff losses, triggered by the watchdog’s forced relocation from London to Amsterdam because of Brexit. “Overall, EMA expects a staff loss of about 30%, with a high degree of uncertainty regarding mid-term ...

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Sri Lanka economy unlikely to grow more than 4pc in 2018

COLOMBO: The governor of Sri Lanka’s central bank said the country’s economy is unlikely to grow more than 4 percent in 2018. “The output gap continued to be pretty significant … it is unlikely that growth would be going to be more than 4 percent this year,” Indrajit Coomaraswamy told ...

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Hacker breaches defenses at Reddit

SAN FRANCISCO: Popular social news website Reddit on Thursday was warning users that a hacker broke into its systems, intercepting some employee text messages to get past defenses. Reddit didn’t disclose the extent of the hack, saying it was conducting a “painstaking” investigation to determine what was accessed and to ...

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Asian prices climb as Japan swelters

TOKYO: Asian spot liquefied natural gas (LNG) prices rose for a second consecutive week as sizzling high temperatures continued to grip Japan, the top buyer of the super-chilled fuel. Spot prices for September delivery in Asia rose to $10.00 per million British thermal units (Btu), up 25 cents from the ...

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