company

Apple firmly on course for $1 trillion valuation, say analysts

Washington - Muslimchronicle

Apple Inc.’s shares hit a record-high on Friday after the tech giant reported a blowout fourth quarter and shrugged off concerns related to the iPhone X, prompting more analysts to put a trillion-dollar valuation on the company. The stock rose as much as 3.7 percent to $174.26, briefly breaching $900 billion in market value, amid declines in the broader market.Read more

Alibaba says profit up 132% in 'outstanding' quarter

Shanghai - Muslimchronicle

Chinese e-commerce giant Alibaba said on Thursday that its net profit soared 132% percent in the latest quarter and that the "outstanding" results had prompted it to revise its full-year revenue projections upward. Net profit for the three months ending September 30 reached 17.67 billion yuan, ($2.67 billion), up from 7.62 billion yuan in the same period of 2016, theRead more

Hong Kong skyscraper sold for record $5.15 bn

Hong Kong - Muslimchronicle

A landmark skyscraper owned by Hong Kong's richest man Li Ka-shing has sold for a record price of more than $5 billion, the company confirmed Wednesday, indicating the city's booming property sector shows no sign of slowing down. The rumoured sale of The Center, the city's fifth-tallest building, was first reported last month. Li's CK Asset Holdings confirmed in aRead more

Luxury market set for record year

London - Muslimchronicle

After a year of stagnation the luxury market has returned to growth and will likely set a new record of 1.2 trillion euros ($1.4 trillion) in 2017, said a study released Wednesday by consulting firm Bain and Company. The five percent growth in the overall market is likely to be matched in the personal luxury goods segment, which includes clothing,Read more

Mining giant Rio Tinto, two ex-chiefs charged with fraud

Sydney - Muslimchronicle

Rio Tinto and two former top executives were charged with fraud by US authorities Wednesday, accused of inflating the value of the company's Mozambique coal assets and failing to disclose mounting losses. The world's second biggest miner vowed to "vigorously" defend itself against the allegations, while announcing it had separately settled a case with Britain's Financial Conduct Authority about theRead more

Japan’s Kobe Steel cheating scandal widens

Tokyo - Muslimchronicle

Crisis-hit Kobe Steel said on Friday its steel division has also falsely labelled products, the latest in a string of revelations confirming widespread cheating at the firm that has engulfed its global customers. The bombshell admissions by Japan’s third-largest steel maker sent its shares plummeting again, with the scale of the misconduct dealing a body blow to the nation’s reputationRead more

P&G claims narrow win in proxy challenge

New York - Muslimchronicle

Procter & Gamble claimed victory Tuesday in a closely-watched boardroom battle over the future of the consumer products giant following an investor vote, but its activist fund rival refused to concede defeat. P&G chief executive David Taylor announced at the annual meeting that preliminary results showed the company's entire slate of candidates to the board of directors had been elected,Read more

Streep, Dench voice outrage at Weinstein sex revelations

New York - Muslimchronicle

Movie legends Meryl Streep and Judi Dench led a chorus of outrage Monday following the revelation that Harvey Weinstein had sexually harassed women for decades, as Hollywood stood accused of covering up a pattern of misconduct that finally cost the film mogul his job. Weinstein was fired late Sunday from his own film studio, three days after a bombshell NewRead more

P&G claims narrow win in proxy challenge

New York - Muslimchronicle

Procter & Gamble claimed victory Tuesday in a closely-watched proxy battle over the future of the consumer products giant, but its activist-fund rival refused to concede defeat. P&G chief executive David Taylor announced at the annual meeting that preliminary results showed the company's entire slate of candidates to the board of directors had been elected, meaning that shareholders rejected NelsonRead more

Saudi Arabia expected to encourage generous Aramco dividend policy

London - Muslimchronicle

A “generous” dividend policy would help to align the interests of Saudi Aramco investors and the government, S&P said in a report. The rating agency noted that a reduction in income tax rates for the larger hydrocarbons producers earlier this year means that the government will be encouraged to push the national oil company to offer attractive dividends when itRead more