World News

Telecom Italia reportedly strips CEO of exec powers

Italian phone group Telecom Italia (TIM) stripped its chief executive, Amos Genish, of his executive powers on Tuesday as well as gave them provisionally to the chairman after a bitter boardroom struggle between two big shareholders, a source said. Genish was appointed last year to run the underperforming former monopoly by TIM’s then controlling shareholder, French media group Vivendi, however ...

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No substantial adjustments ahead, says Lorenzo Fioramonti

“I don’t expect the Italian government to make any substantial revisions,” Lorenzo Fioramonti, a junior minister for the a few Star Movement in addition to one of the architects of the party’s economic policy, told CNBC’s Willem Marx. “I think there may be a dialogue around some potential second steps, nevertheless I think the bulk, the core of what’s being ...

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Analyst Kuo cuts Apple iPhone XR shipment estimates

Well-known Apple analyst, TF International Securities’ Ming-Chi Kuo, cut his forecast for iPhone XR shipments by 30 million units in a research note issued Monday. The iPhone XR is actually Apple’s most affordable brand-new iPhone along with was released in October. “We have reduced our iPhone XR shipment estimation via 100mn units to 70mn during the brand-new product lifecycle (4Q18 ...

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The strong dollar may be behind This specific stock sell-off

“the item could be a challenge for the stock market inside fact that will about 40 percent of the S&P 500 earnings are generated by outside the United States,” said Michael Arone, chief investment strategist at State Street Global Advisors. “As the dollar strengthens, that will has certainly created risk to those earnings. Another thing that will could be a ...

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Venezuelan inflation approaches 150,000%

Venezuelan President Nicolas Maduro’s most-recent attempt to stop his country’s massive inflation problems is usually failing, at least according to one measure. The Bloomberg Café Con Leche Index, which gauges Venezuela’s inflation through the cost of a cup of coffee, showed an annual inflation rate of 149,900 percent after its latest reading. The staggering inflation print comes after the Venezuelan ...

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Asia Pacific can be a growth opportunity 

The Asia Pacific region can be a key growth driver for Australia’s largest airline Qantas, its CEO said on Monday. Qantas has increased its capacity inside region partly because more tourists via Asia are heading to Australia, Alan Joyce told CNBC’s “Squawk Box.” “Ten years ago, when I took over as CEO, we had one-third of a capacity to Europe, ...

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China says will further open up its economy, slams protectionism

Chinese Premier Li Keqiang said on Monday Beijing will further open up its economy from the face of rising protectionism, as he headed for meetings with Asia-Pacific leaders in Singapore in which are anticipated to focus on trade tensions. Li’s remarks in an article in Singapore’s Straits Times newspaper, ahead of his arrival from the city-state later from the day, ...

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SoftBank’s mobile unit launches $21 billion IPO

Kiyoshi Ota | Bloomberg | Getty Images Masayoshi Son, chairman as well as chief executive officer of SoftBank Group at the SoftBank World 2018 event in Tokyo, Japan. SoftBank Group’s domestic telecoms unit on Monday received approval to list on the Tokyo Stock Exchange in an initial public offering (IPO) worth 2.4 trillion yen ($21.04 billion), a regulatory filing showed, ...

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