Fri, Feb 02, 2018 - Page 10 News List

World Business Quick Take

Agencies

TECHNOLOGY

Apple suppliers’ sales slow

Qualcomm Inc and Broadcom Ltd, key suppliers to Apple Inc, have implied that orders related to the iPhone tailed off more than normal at this time of year. The San Diego-based Qualcomm on Wednesday said that orders from a large “thin modem” customer tailed off at worse-than-typical levels in the quarter. It was widely interpreted that the customer is Apple. Earlier on Wednesday, Broadcom said it expected a “greater-than-seasonal decline in wireless” components, indicating fewer-than-anticipated sales of its chips for its fiscal second quarter. Broadcom provides wireless network and Bluetooth components for the iPhone.

ELECTRONICS

Nintendo raises forecasts

Nintendo Co yesterday raised its outlook for profit and Switch sales for a second straight quarter following robust shipments during the holidays, the strongest sign yet that the console would be a long-term success. The Kyoto-based company raised its operating profit outlook to ¥160 billion (US$1.5 billion) from ¥120 billion for the current fiscal year ending next month. The company lifted its Switch hardware sales forecast for the period to 15 million, up from 14 million it set in October last year. Revenue was ¥483 billion in the quarter, compared with its forecast of ¥452 billion. Full-year sales are now forecast at ¥1.02 trillion, up from ¥960 billion.

AVIATION

Boeing Q4 profit up 92%

Boeing Co on Wednesday said that fourth-quarter earnings jumped, thanks to higher commercial plane deliveries and a boost from US tax reform, and expects more strong results this year. The US aerospace giant reported that fourth-quarter net profit reached US$3.1 billion, up a stunning 92 percent year-on-year. Revenue came in at US$25.4 billion, up 9 percent from the equivalent stretch in 2016, bolstered by higher commercial plane deliveries and increased defense revenues from deliveries of weapons systems. Boeing projected commercial plane deliveries of 810 to 815 this year, which would exceed the record 763 last year.

ENERGY

Shell leads in Mexico bid

Royal Dutch Shell PLC on Wednesday won nine of the 29 deepwater oil exploration blocks Mexico put up for bid in the Gulf of Mexico. The Anglo-Dutch oil giant won four of those bids in alliance with other companies. Shell was the biggest winner in the bidding round, in which 10 blocks drew no bids. Malaysia’s PC Carigali won seven blocks alone or in alliances, and Mexico’s state-owned Pemex won four blocks, two of them as part of an alliance. Mexico said the bidding ensured that nearly two dozen deepwater exploration wells would be drilled as part of billions of US dollars in investment.

GAMING

Macau revenue surge 36%

Macau’s casino revenue growth surged the most in four years as high rollers and leisure gamblers headed to the world’s biggest gambling hub before the Lunar New Year rush. The weeklong holiday begins on Feb. 16. Gross gaming receipts increased 36 percent last month to 26.3 billion patacas (US$3.3 billion), Macau’s Gaming Inspection and Coordination Bureau said yesterday. That was better than the median estimate for a 27 percent increase in a Bloomberg survey of seven analysts and the highest jump since February 2014.

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