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SAP shares jump after better-than-expected quarterly results

Business Shares in SAP jumped 7per cent on Thursday to the top of Germany's blue-chip index after the software maker confirmed its outlook and said its quarterly business activity recovered from the effects of a global lockdown faster than expected. FILE PHOTO: The company logo is seen at a showroom that hosts software company SAP in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann/File Photo 09 Jul 2020 04:55PM Share this content Bookmark FRANKFURT: Shares in SAP jumped 7per cent on Thursday to the top of Germany's blue-chip index after the software maker confirmed its outlook and said its quarterly business activity recovered from the effects of a global lockdown faster than expected. Total revenue in the period increased by 2per cent to 6.74 billion euros (US$7.64 billion). Software licenses, SAP's cash-cow business, slumped 18per cent, and cloud revenues were up by the same amount. Advertisement Advertisement "Software licenses revenue, while stil..

Business

European shares rise after SAP’s reassuring outlook

Business European stocks rose on Thursday as software giant SAP signalled a rebound in its business from a coronavirus hit, while optimism over China's recovery helped Germany outperform. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 6, 2020. REUTERS/Staff 09 Jul 2020 04:05PM Share this content Bookmark REUTERS: European stocks rose on Thursday as software giant SAP signalled a rebound in its business from a coronavirus hit, while optimism over China's recovery helped Germany outperform. The broader European equities index rose 0.3per cent in early deals. Advertisement Advertisement SAP jumped 6.5per cent after the German group confirmed its full-year outlook and said business activity gradually improved in the second quarter from the effects of a global lockdown. Denmark's Pandora gained 1.2per cent after it lifted its profit forecast for the second quarter, saying consumers had returned to s..

Business

UK housing market’s post-lockdown bounce ‘might run out of steam’

The UK housing market is enjoying a short-term, post-lockdown bounce but there are “worrying signs” this may quickly run out of steam, according to surveyors and estate agents. In the wake of the property market starting to reopen, the number of people looking to buy a home rebounded in June, as did the number of new properties being listed for sale, according to the latest monthly snapshot from the Royal Institution of Chartered Surveyors (Rics). Socially-distanced property viewings restarted in England on 13 May and in Northern Ireland and Scotland last month. In Wales, the property market partially reopened on 22 June. Individual surveyors and agents reported differing fortunes, though many said they were very busy during June. Several reported that there were signs that some potential homebuyers were plotting a move away from their city location to a rural area or smaller town, as people rethink their priorities in the wake of the coronavirus pandemic. Neil Foster at Foster Mad..

Business

Thailand Says Monkey Labour Almost Non-Existent After UK Shop Ban

BANGKOK—Monkey labour to harvest coconuts for commercial products “is almost non-existent” in Thailand, the commerce minister said on Monday, after British retailers announced bans on products campaigners say use the animals in their production. Waitrose, Co-op, Boots, and Ocado vowed not to sell products that used monkey labour, while Morrisons has already removed Thai products amid an appeal by Prime Minister Boris Johnsons fiancée Carrie Symonds. Symonds on Friday backed a call to supermarkets to stop selling Thai coconut products over accusations of monkey “slaves” by the rights group People for Ethical Treatment of Animals (PETA) published in the Telegraph newspaper. “Using monkeys for the coconut industry is almost non-existent,” Thai Commerce Minister Jurin Laksanawisit told reporters, saying human labour had long ago replaced monkeys. “But there may still be the pictures of monkey collecting coconuts for tourism on video clips, which created a misunderstanding,” Jurin said...

Business

Bed Bath & Beyond Says It Will Close 200 Stores Over the Next Two Years

Bed Bath & Beyond announced Wednesday that it plans to close about 200 stores over the next two years. The announcement came as the firm unveiled its quarterly earnings report on Wednesday. But the firm did not say what stores would be closing. Like many retailers across the United States, Bed Bath & Beyond was forced to temporarily shut down its locations due to the CCP (Chinese Communist Party) virus pandemic. And the firm said the pandemic was at least partially the reason why the company lost revenue. “The impact of the COVID-19 situation was felt across our business during our fiscal first quarter, including loss of sales due to temporary store closures and margin pressure from the substantial channel shift to digital,” Bed Bath & Beyond Chief Executive Mark Tritton said in a statement Wednesday. His statement added: “From the beginning of this crisis, we have taken measured, purposeful steps to help keep our people safe and our customers serviced, and we are proud of the way..

Business

YouTube Not Obliged to Inform on Film Pirates, Europes Top Court Says

BRUSSELS—Googles YouTube is not required to hand over the email or IP address of users who upload films illegally to its video platform, Europes top court ruled on Thursday, saying there must be a balance between protecting personal data and copyright. The case came before the Luxembourg-based Court of Justice of the European Union (CJEU) after a German court sought guidance on what video platforms must do to combat film piracy in a case concerning German film distributor Constantin Film Verleih. The company, which had distribution rights to the films Scary Movie 5 and Parker in Germany, had asked YouTube and Google to provide the email addresses, telephone numbers and IP addresses of users who had uploaded those films illegally onto YouTube in 2013 and 2014. Constantin Film took its case to the German court after Alphabet subsidiaries Google and YouTube refused to supply the details. The CJEU backed the U.S. tech companies. “When a film is unlawfully uploaded onto an online platf..

Business

Motor racing: Vettel would say yes to Red Bull if offered a seat

SPIELBERG, AUSTRIA (REUTERS) – Four-times Formula One world champion Sebastian Vettel said on Thursday (July 9) he would say yes to Red Bull if they were to offer him a seat for next season, although Max Verstappen indicated that was unlikely to happen. Ferrari are not extending the German's contract beyond this year, with Carlos Sainz coming in from McLaren to replace him, and Vettel faces an uncertain future with retirement a possibility. Red Bull, with whom Vettel won his titles in 2010-13, have yet to confirm British-born Thai Alex Albon as Max Verstappen's team mate beyond 2020. "It's a winning car. I'm here to compete, I'm here to win so probably the answer would be yes," Vettel told a news conference ahead of Sunday's Styrian Grand Prix in Austria when asked how he would respond to an offer from his former employers. "I know how strong they are from the past…the team has evolved, so it's not fair to say I know the team inside out, because i..

Business

Fisker the latest electric car maker eyeing deal to go public

REUTERS: Electric vehicle maker Fisker Inc is in talks to go public through a sale to a so-called blank-check acquisition company, modeled after a successful deal earlier this year by peer Nikola Corp , people familiar with the matter said on Thursday. Nikola shares are up more than 60per cent since it went public last month through such a deal, as investors place bets on which startup will be the next Tesla Inc . Earlier this month, autonomous vehicle technology company Velodyne Lidar agreed to be bought by blank-check company Graf Industrial Corp , fuelling a rally in the latter's shares. Advertisement Advertisement Spartan Energy Acquisition Corp , which is backed by private equity firm Apollo Global Management Inc , is leading a bidding war among blank-check companies for FiskeRead More – Source [contf] [contfnew] channel news asia [contfnewc] [contfnewc]

Business

Apple rolls out free online coding course for teachers

Business Apple Inc said on Thursday it was rolling out a free online coding course for teachers, while beefing up its existing school coding programs with new material. An Apple logo is seen at an Apple store as pre-Thanksgiving and Christmas holiday shopping accelerates at the King of Prussia Mall in King of Prussia, Pennsylvania, U.S. November 22, 2019. REUTERS/Mark Makela/Files 10 Jul 2020 12:15AM Share this content Bookmark REUTERS: Apple Inc said on Thursday it was rolling out a free online coding course for teachers, while beefing up its existing school coding programs with new material. The Cupertino, California-based company, which offers coding courses under the "Develop in Swift" and "Everyone Can Code" banners, said the new course is designed to supplement the need for computer science educators in the United States. Advertisement Advertisement The new course will help instructors build foundational knowledge to enable them to teach app development with Apple&#039..

Business

Nokia launches data centre networking tools, developed with Apple

Business Finland's Nokia launched a set of tools on Thursday for data centre networking, developed in cooperation with Apple Inc , to help companies to manage the growth in traffic as 5G and machine learning technologies roll out. The logo of Nokia is seen before the company's news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS/Files 10 Jul 2020 12:11AM Share this content Bookmark REUTERS: Finland's Nokia launched a set of tools on Thursday for data centre networking, developed in cooperation with Apple Inc , to help companies to manage the growth in traffic as 5G and machine learning technologies roll out. As the usage of 5G networks expands, vast quantities of data will be generated as more household appliances and other machines are linked up with sensors and artificial intelligence tools, creating the so-called "internet-of-things". Advertisement Advertisement Nokia, which competes against China's Huawei and Sweden&#0..

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