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Sports - Adidas begins marathon turnaround in North America

German sportswear company Adidas turned around its sales in North America in the first quarter, helped by a marketing campaign designed to win business from dominant rival Nike . Adidas said group sales rose 17 percent to 4.08 billion euros ($4.54 billion), or 9 percent excluding the impact of currencies, beating an average analyst forecast for 3.91 billion and lifting its shares more than 1 percent. Despite the hike in marketing spending, Adidas increased its operating margin by 10 basis points to 8.9 percent, still well behind the 13 percent achieved by Nike last year. Long-serving Chief Executive Herbert Hainer, who faced calls to quit last year as Adidas lost more ground to Nike, said the sales improvement was broad-based, with particularly strong growth in the running and fashion businesses.

Tuesday, May 05, 2015  14:44


Market - Disney kicks off big summer with big earnings

The Mouse House posted strong earnings early on Tuesday morning. The news follows `Avengers: Age of Ultron` having one of the biggest openings of all time.

Tuesday, May 05, 2015  14:45


World - China to lift drug price controls from June 1

The Chinese government said on Tuesday it will scrap long-standing state price controls on most medicines, effective June 1, as part of market-oriented reforms. The government will no longer impose upper limits on retail prices for drugs, government agencies including the National Development and Reform Commission (NDRC) and National Health and Family Planning Commission said in a joint statement. `The reform of drug prices needs to... fully utilise the resource allocation role of the market,` the statement said. Price controls will be relaxed over drugs covered by medical insurance, blood products, immunisations, anti-AIDS and birth-control medicines, the statement said.

Tuesday, May 05, 2015  12:51


Business - Cisco looks to salesman Robbins for tech leadership

By Bill Rigby SEATTLE (Reuters) - Chuck Robbins, the veteran salesman chosen by Cisco Systems Inc to succeed legendary CEO John Chambers, must prove he has the technical knowledge to chart a new course and lead the network equipment maker into the new world of cloud-based computing. Cisco, like tech stalwarts Hewlett-Packard Co and IBM, is trying to branch out from its core business into software, security and datacenters to capitalize on the explosion of remote computing. `He`s going to run the company well as a caretaker, he`s got good business acumen, said Glenn O`Donnell, an analyst at tech research firm Forrester `The question is whether he has vision. I don`t think anybody yet knows the answer.` Cisco is the clear market leader in selling network equipment to companies, controlling about half of a $38 billion global market, more than four times the total of the next two rivals combined, HP and China`s Huawei, according to Gartner.

Tuesday, May 05, 2015  05:54


Business - Asian shares slip, Aussie dollar volatile after rate cut, China concerns

By Saikat Chatterjee HONG KONG (Reuters) - Asian stock markets retreated on Tuesday and the Australian dollar stumbled after the central bank cut interest rates for the second time in four months as the region`s growth falters in the face of slowing demand from China. Financial spreadbetters expected European markets to open mixed, with Britain`s FTSE 100 likely to open 0.7 percent higher, Germany`s DAX seen 0.2 percent lower and France`s CAC 40 seen down 0.1 percent. The Reserve Bank of Australia cut its cash rate a quarter point to an all-time low of 2.0 percent to buttress the economy against slowing mining investment and push the stubbornly strong local dollar lower, in line with market expectations. The Australian dollar fell a quarter of a cent initially, but then quickly rebounded as some investors bet the RBA`s current easing cycle might now be over.

Tuesday, May 05, 2015  07:44


Business - Asian shares tread water ahead of Australia rate decision

Asian markets edged lower on Tuesday and the Australian dollar steadied as investors stayed on the sidelines ahead of a Reserve Bank of Australia policy decision that might result in an interest rate cut. This time derivative markets see a 70 percent chance of a quarter-point cut, while interbank futures 0#YIB: give a 58 percent chance, with expectations heightened by the central bank`s unease with the Australian dollar`s strength. The Australian dollar was trading at $0.7849 before the rate decision, having hit a three-month high above $0.80 last week. Australian stocks held on to their early gains while the MSCI`s broadest index of Asia-Pacific shares outside Japan was slightly down at 0.2 percent.

Tuesday, May 05, 2015  04:41


Business - Asia shares edge up, Australia rate decision looms

By Wayne Cole SYDNEY (Reuters) - Asian shares inched cautiously higher on Tuesday as investors wagered Australia would become the latest country in the region to inject more policy stimulus into its economy. Liquidity was lacking with markets in Japan, South Korea and Thailand on holiday and little in the way of major economic data on the docket for Tuesday. Australia`s main index rose 1.1 percent as investors waited to see if the country`s central bank would cut interest rates to a record low of 2.0 percent as many expect. Markets are pricing in a 60 to 70 percent probability of an easing following the Reserve Bank of Australia`s (RBA) monthly policy meeting.

Tuesday, May 05, 2015  01:37


Top Stories - Next big thing: The desktop computer

Tuesday, May 05, 2015  11:04


Market - Jim Rogers: I would buy North Korea if I could

Famed investor Jim Rogers has made his fortune several times over by investing where others fear to tread. Where`s he looking now?

Tuesday, May 05, 2015  01:56


Personel Finance - 7 quirky luxury products for the super rich

Take a look at some of the most unusual luxury products being marketed to the top 1% in Monaco, including a rotating sunbed, hand-made wooden skis and fur coats for dogs.

Saturday, May 02, 2015  03:12

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