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Japan Industrial Output Jumps 1.9% In June
Industrial production in Japan was up 1.9 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.
That beat forecasts for a gain of 0.5 percent following the 2.6 percent decline in May.
On a yearly basis, output slipped 1.9 percent - also exceeding forecasts for -2.9 percent after easing 0.4 percent in the previous month.
Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it continues to fluctuate indecisively but shows signs of increasing in parts.
News are provided byInstaForex.
Microsoft to Axe 2, 850 More Jobs
Microsoft plans to cut 2, 850 more jobs, adding to the formerly disclosed job cuts as it restructures its sales operation and shuts down its mobile phone hardware business division.
The software company announced the latest lay-off in a filing to the U.S. Securities and Exchange Commission on Thursday.
A spokesperson said that nine hundred of the job cuts in the global sales division have already been done. Microsoft is projecting the remaining 1, 950 cuts to be completed by 2017. Jobs in the sales organization and mobile phone division will be included in the cuts. The most recent cuts comes after the 1, 850 layoffs in the phone unit disclosed in May.
The job cuts are part of a reorganization that came after COO Kevin Turner's departure from Microsoft, leading to the restructuring of the sales group by Chief Executive Satya Nadella.
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South Korea Manufacturing Sector Slows In July - Nikkei
The manufacturing sector in South Korea continued to expand in July, albeit at a slower pace, the latest survey from Nikkei showed on Monday with a manufacturing PMI score of 50.1.
That's down from 50.5 in June, and it remains just barely above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, business conditions stagnated following the improvement in June.
Production was barely higher, although job growth picked up.
Total new business declined, but growth of new export work hit an 18-month high.
News are provided byInstaForex.
Sony Advances After Posting Unexpected Profit on PlayStation Games
Sony Corp. advanced the biggest in three weeks after its invigorated games division pushed the Japanese company to beat quarterly results forecast, justifying CEO Kazuo Hirai's shifted emphasis on media and entertainment.
Sony shares gained as much as 3.5% to 3, 397 yen, the biggest recorded jump on an intraday basis since July 11, bringing its gains for the year to a total of 13%.
The company reported a net income of 21.2 billion yen or $205 million in the second quarter, against the expectations of analysts of a 39-billion yen loss. Sony retained its projection of 80 billion yen annual profit.
It was the robust growth of the company's game division that boosted the firm's net income. Its impressive performance has helped investors look beyond the effect of the Kumamoto earthquakes that has closed down the main manufacturing site for components of its digital cameras. Sony also report an unexpected profits in its phone division, reflecting the company's efforts to cut down its mid-range line-up and its withdrawal from unprofitable markets.
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Australia Building Approvals Slide 2.9% In June
The total number of building approvals issued in Australia was down a seasonally adjusted 2.9 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at 18,693.
That was well shy of forecasts for an increase of 0.8 percent following the 5.2 percent contraction in May.
Individually, residential building approvals were down 3.4 percent on month, while non-residential approvals slid 2.4 percent.
On a yearly basis, building approvals sank 5.9 percent after sliding 9.1 percent in the previous month.
News are provided byInstaForex.
Australia Building Approvals Slide 2.9% In June
The total number of building approvals issued in Australia was down a seasonally adjusted 2.9 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at 18,693.
That was well shy of forecasts for an increase of 0.8 percent following the 5.2 percent contraction in May.
Individually, residential building approvals were down 3.4 percent on month, while non-residential approvals slid 2.4 percent.
On a yearly basis, building approvals sank 5.9 percent after sliding 9.1 percent in the previous month.
News are provided byInstaForex.
Williams Cos Plans on Being a Standalone Company and Invest $1.7 billion
Energy company Williams Cos Inc (WMB.N) has set plans to become a standalone company and invest $1.7 billion to its limited partnership Williams Partners (WPZ.N) following the separation of its takeover that is beyond $20 billion by Energy Transfer Equity LP (ETE.N). Williams' shares have plunged to almost 60 percent for the last year as the company failed to compel Energy Transfer Equity to end its agreed-upon purchase.
On Monday, Williams had reported a second-quarter decline mainly because of a previous charge in relation to the approaching sale of its own operations in Canada. The company has stated that it expects to conclude the sale by this quarter with total proceeds worth beyond $1 billion dollars. A distribution reinvestment plan was also introduced which will allow the company along with its other investors in William Partners to refrain from payouts from the partnership in exchange for new units.
The majority shareholder of Williams Partners is Williams and with this new investment it could help reduce debt and be able to continue an investment-grade credit rating.
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China Services PMI 51.7 In July - Caixin
The services sector in China continued to expand in July, albeit at a slower pace, the latest survey from Caixin showed on Wednesday with a services PMI score of 51.7.
That's down from 52.7 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Also, the composite index came in with a reading of 51.9, up from 50.3 in the previous month.
News are provided byInstaForex.
Bitcoin Plunges After Hackers Steal $65 Million from HK Exchange
Bitcoin prices plunged following the breach of one of the largest exchanges that halted trading after hackers stole around $65 million worth of the digital currency.
Bitcoin sagged 5.3% versus the dollar as of 10:17 a.m. in Tokyo Trading, adding up its two-day decline to 13%, with the currency almost down 20% this week. Prices were also down 6.2% on Monday, but it was not sure if the decline was linked to the breach.
Hong-Kong based Bitfinex stopped trading, deposits and withdrawals on Tuesday after recognizing the security breach. It stated that it was probing details and working with authorities, but also admitted that it was a large breach that some bitcoin were stolen from its users. Bitfinex stopped all trading activities in all digital currencies, including the ethereum, but assured participants that losses were restricted only to bitcoin.
News are provided byInstaForex.