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July, 29, 2016

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Business
Oil prices edged up in Asia Thursday after slumping for five-straight sessions to a three-month low after a surprise jump in U.S. stockpiles built on increasing worries about a global supply glut.
 
Royal Dutch Shell's net profit collapsed 71 percent in the second quarter on the back of ultra-low oil prices, the British energy giant said Thursday.
 
Japan's Nippon Steel & Sumitomo Metal said Thursday it swung to a loss in its fiscal first quarter as slowing Chinese demand and lackluster sales at home dented its bottom line.
 
French supermarket group Carrefour said Thursday its half-year net profit tumbled due to one-off items and as low fuel prices and currency rates ate away at sales.
 
Toyota is in danger of losing its crown as the world's biggest automaker this year as sales fall behind those of German rival Volkswagen, new figures showed Thursday.
 
Boeing, absorbing billions in write-downs related to two of its newest commercial jets and a military fuel tanker, reported its first quarterly loss in nearly seven years.
 
Sales of popular home appliances and televisions offset slumping smartphone sales at South Korea's LG Electronics, which reported a sharp increase in second-quarter net profits on Thursday.
 
Credit Suisse bounced back into profit in the second quarter, earning 170 million Swiss francs (US$172 million), as it reported making progress on a major restructuring program.
 
Japan's SoftBank said Thursday net profit jumped 19 percent in its fiscal first quarter owing to gains from selling some of its stake in Chinese e-commerce giant Alibaba, offsetting losses at U.S. mobile unit Sprint.
 
Eslite Spectrum Songyan Store in Taipei was named as one of the 14 "coolest department stores" in the world by a CNN journalist on Wednesday.
 
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