Economy
Coca-Cola says will appeal US tax court penalty worth $6 bn
Coca-Cola said Friday it plans to pay a tax penalty worth $6 billion while it pursues an appeal in a long-running dispute with the Internal Revenue Service. Coca-Cola's press release Friday did not give a timeframe for the $6 billion payments.
Delhi Capitals closing in on £120 million purchase of Hampshire - reports
The owners of the Delhi Capitals are eyeing a £120 million ($153 million) deal to buy Hampshire County Cricket Club in a move which would see them become the first overseas franchise to own an English first-class county, according to media reports. Unlike the majority of English cricket's 18 first-class counties, Hampshire is no longer a members-owned club.
US extends hiring cooldown while unemployment highest since 2021
The US jobs market cooled much more than expected in July with the unemployment rate reaching its highest since late 2021, government data showed Friday, paving the way towards post-pandemic interest rate cuts. The jobless rate rose to 4.3 percent, the highest level since October 2021, according to government data.
ExxonMobil profits up after Pioneer deal, Chevron earnings dip
US oil and gas giant ExxonMobil reported higher profits Friday as it pointed to the benefits of its acquisition of Pioneer Natural Resources, while earnings at rival Chevron dipped on lower refining results. ExxonMobil rode the contribution from Pioneer, a big player in the Permian Basin in Texas and New Mexico, to record oil and gas output during the quarter.
ExxonMobil profits up on higher output after Pioneer deal
US oil and gas giant ExxonMobil reported higher profits Friday on record oil and gas production following the acquisition of Pioneer Natural Resources, offsetting sharply lower downstream earnings. "We achieved record quarterly production from our low-cost-of-supply Permian and Guyana assets, with the highest oil production since the Exxon and Mobil merger."
Banks, traders crash dollar rate in official, black markets as naira records best gains in 2 weeks
The Nigerian currency, the naira, rebounded against the US dollar in the official and parallel market to trade at N1,570 and N1,580, respectively.
Nintendo first-quarter net profit sinks as Switch sales slow
Nintendo said Friday that first-quarter net profit more than halved as sales for the seven-year-old Switch slowed down and fans keenly awaited news on the hit console's successor. Players and investors are hungry for news about a Switch successor, and Nintendo has said an announcement will come by the end of March 2025.
Tokyo tanks as Asian markets track Wall St down on recession fears
Tokyo led losses across Asia on Friday due to a stronger yen and expectations for more Japanese rate hikes, while disappointing data sparked a plunge on Wall Street and fuelled fresh fears of a US recession. And Asia fared just as poorly, with Tokyo the standout.
Slow down to save the planet, says Japan's rock star philosopher Saito
As Tokyo's millions put in another day's work on the coalface of capitalism, celebrity Marxist philosopher Kohei Saito and his friends are clearing rocks from a muddy mountain stream. The associate professor at the University of Tokyo has sold half a million copies of his latest book and last month spoke at music festival Fuji Rock, headlined by The Killers.
Economy
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