Fri, Nov 07, 2014 - Page 15 News List

World Business Quick Take

Agencies

BRAZIL

Extreme poverty rises

The number of people living in extreme poverty rose slightly last year after a decade of strong progress on the issue, a government-run research body said on Wednesday. After 10 years of constant reductions in extreme poverty, the number was up 3.7 percent between 2012 and last year to 10.5 million people, the Institute for Economic Research said. In 2003, 26 million Brazilians lived in conditions of extreme deprivation.

EMPLOYMENT

Australia jobless rate steady

Australia’s jobless rate remained stable at an almost 12-year high of 6.2 percent last month, reflecting a soft labor market as the economy adjusts away from mining-driven growth, official data showed yesterday. About 24,100 jobs were added to the economy in the month, with full-time positions jumping by 33,400, while part-time roles slipped by 9,400, figures from the Australian Bureau of Statistics showed.

ECONOMY

UK service growth slows

Growth at UK service companies slowed to the least in 17 months last month as demand cooled, preventing companies from raising prices. Markit Economics said its Purchasing Managers’ Index dropped to 56.2, the lowest since May last year, from 58.7 in September. A reading above 50 indicates expansion. The survey signals the domestic demand that has driven the recovery is losing momentum at a time when Britain’s main export markets are weakening.

ELECTRONICS

Siemens hits profit targets

German engineering giant Siemens said yesterday that it reached its full-year profit targets in the 12 months to September, thanks to a solid final quarter. Siemens, which runs its business year from October to September, said its net profit rose by 25 percent to 5.50 billion euros (US$6.9 billion) in the year ended Sept. 30. Underlying or operating profit rose by 26 percent to 7.33 billion euros. Full-year revenues fell by 2 percent to 78.35 billion euros and orders were also down 2 percent at 71.92 billion euros.

COMPUTERS

Lenovo profit rises 19%

Lenovo Group Ltd (聯想), the world’s biggest PC maker, yesterday said its latest quarterly profit rose 19 percent, driven by sales growth outside its home China market. Profit rose to US$262 million, or US$0.02 per share, in the three months ended Sept. 30, the company said. Revenue rose 7 percent to US$10.5 billion. Quarterly sales in China declined 2 percent from the same quarter last year, offset by a 33 percent rise in Europe, the Middle East and Africa and a 3 percent rise in the Asia-Pacific region. Sales in North America were flat.

RETAIL

Adidas profit tops estimates

Adidas AG reported third-quarter profit that beat analysts’ reduced estimates, as the company made strides in soccer and running sales, helping offset declining revenue of its golf business. Net income fell to 282 million euros (US$353 million), the Germany sporting-goods maker said in a statement yesterday. Sales next year are forecast to increase at a mid-single-digit rate, while net income is set to grow at a higher rate than group sales, the company said. Chief executive officer Herbert Hainer is scheduled to present a new strategic plan in March.

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