Moses Manhanga

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Nokia Drags Down Microsoft Profits

Quarterly profits at Microsoft fell 7.1% even as revenues rose, due to the company’s April acquisition of cellphone maker Nokia, the software giant …

Geopolitical tensions seen keeping oil prices high

The price of oil fell slightly Tuesday but experts see geopolitical tensions preventing any significant short-term declines.<p>U.S. benchmark crude for …

Rates set to stay on hold after annual inflation hits 3%

Interest rates look set to stay on hold for months to come after the Australian Bureau of Statistics (ABS) reported that inflation has increased to 3%.<p>The cost of living rose 0.5% in the June quarter to an annual rate of 3%, the ABS said on Wednesday morning.<p>It is highest annual rate since December …

Shanghai police detain five in McDonald's, Yum-linked China food safety probe

SHANGHAI/LANGFANG China (Reuters) - Yum Brands Inc severed ties with OSI Group after Shanghai police detained five people from the supplier’s China meat-processing factory at the center of a food-safety scare that has ensnared several major Western brands.<p>A security personnel stands guard in front …

California firm issues nationwide fruit recall

A Central California company is recalling specific lots of its fresh peaches, plums, nectarines and pluots sold nationwide over concerns of possible listeria contamination.<p>Wawona Packing Co. President Brent Smittcamp said in a statement that he is not aware of any illnesses caused by the fruit, and …

Saudi Arabia: The next big emerging market?

Get ready for the next big emerging market opportunity: Saudi Arabia.<p>The oil giant is set to open its stock market to direct foreign investment for the first time, giving outsiders access to the biggest bourse in the region.<p>The Saudi market -- worth an estimated $530 billion -- is more than double …

Tanker charge tarnishes Boeing's second-quarter profit | Reuters

(Reuters) - Boeing Co reported a 52 percent jump in quarterly profit, helped by higher commercial plane deliveries and one-time tax gains, but investors were spooked by rising costs in its military tanker program.<p>Boeing’s shares fell as much as 3 percent after the company said it took a …

Japan Is Now The Walmart Of The World Economy

Abenomics for a long time was successful in depressing the yen. It went from about 82 yen to a dollar in December 2012, to 105.3 yen to a dollar in January 2014.<p>Year-to-date however the U.S. dollar is down 3.7% against the yen.<p>Richard Bernstein, CEO of Richard Bernstein Advisors, thinks the only …

Reports: TransAsia Airways crashes in Taiwan, 51 dead

After staying too long at her parents' house in Kaohsiung, Taiwan's second city, Chen Caijia and her son arrived at the airport too late to board their Wednesday afternoon flight back home to Penghu Island, an archipelago in the Taiwan Strait loved by windsurfers and beach-goers.<p>They can count …