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Samsung, Tencent surge in race to become Asia's most valuable firm
People pose with mobile devices in front of projection of Samsung logo in this picture illustration taken in ZenicaBy Nichola Saminather SINGAPORE (Reuters) - Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push their share prices to record highs. "These companies can grow earnings despite weaker global growth," said Andrew Gillan, head of Asia ex-Japan equities at fund managing firm Henderson Global Investors, which is overweight on Asian technology firms. "The operating fundamentals of the Chinese internet sector particularly have surprised positively in the most recent quarterly results." While many investors remain upbeat about Samsung and Tencent, some caution the firms are vulnerable to rapid swings in sentiment on any sign of slowing momentum.
Japanese seek bargains as economy limps, Abenomics loses shine
People are reflected in mirrors at an entrance to a department store in TokyoBy Leika Kihara TOKYO (Reuters) - Three years of so-called "Abenomics", Japanese Prime Minister Shinzo Abe's bold stimulus program, has failed to dislodge a deflationary mindset among businesses and consumers. As the world's third-largest economy falters again - with a stronger yen gnawing at overseas profits and domestic consumption sapping companies' confidence to invest or sufficiently raise wages - firms that increased their prices in the hope of a sustained recovery are rethinking their strategy. "There's a sense the economy is stalling and companies' earnings are bad this year, so I'm holding off from spending on big items," she said.
Weak freight rates push S.African shipping firm Grindrod to H1 loss
Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects demand for commodities to pick up this year. Africa's biggest shipping group, which is present in 37 countries worldwide, reported a headline loss per share of 50.8 cents for the six months to June 30 versus a profit of 43.6 cents a year earlier. Headline earnings per share, the main profit gauge in South Africa, strips out certain one-off items.
Dwayne Johnson dethrones Robert Downey Jr. as highest paid actor
Cast member Johnson poses at the premiere of NEW YORK (Reuters) - Wrestler-turned-actor Dwayne Johnson topped a Forbes magazine list of the world's highest paid actors on Thursday with an estimated 2016 payday of $64.5 million. Johnson, 44, knocked Robert Downey Jr. off the top spot and more than doubled his 2015 earnings, largely thanks to his action comedy "Central Intelligence." Johnson, known as "The Rock" during his wrestling career, also collected advance fees from the eighth installment of the popular "Fast and Furious" racing movie franchise. The Forbes annual list again highlighted the pay gap between men and women in Hollywood. ...
TSX edges slightly higher as materials stocks rebound
A sign board displaying Toronto Stock Exchange stock information is seen in TorontoBy Fergal Smith TORONTO (Reuters) - Canada's main share index edged higher on Thursday as the materials group pared some recent losses before the start of a global central bankers' gathering and Canadian Imperial Bank of Commerce rose after better-than-expected earnings. A modest gain for the index follows its biggest decline on Wednesday in more than eight weeks. The market is on "tenterhooks," waiting for Friday's speech in Jackson Hole, Wyoming by Federal Reserve Chair Janet Yellen, said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. ...

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World News

Small town 'shocked' by nuns' slaying

Durant Police Chief John Haynes, left, and assistant Police Chief James Lee reassure Lexington Medical Clinic employees Lisa Dew, right, and Viola Turner, seated, that the Mississippi Bureau of Investigation was giving the home of two slain Catholic nuns who worked as nurses at the clinic a through crime scene investigation, Thursday, Aug. 25, 2016, in Durant. The clinic office manager and a Durant police officer discovered their bodies inside the house after both nuns did not report for work. Authorities said there were signs of a break-in and their vehicle was missing. (AP Photo/Rogelio V. Solis)Sister Margaret Held and Sister Paula Merrill, reportedly found stabbed in their home, were nurse practitioners at a clinic in Durant, Miss.


Behind university's 'trigger warning' letter

Students walk through the main quadrangle at the University of Chicago. (Robert Kozloff/University of Chicago)The University of Chicago's dean says the firestorm over a letter to freshmen was somewhat the point.


French court rules to suspend burkini ban

French court makes initial ruling to suspend burkini ban. (AP)The Conseil d'Etat gave the ruling after a human rights group said the ban contravenes with civil liberties.


Obama race relations legacy seen as mixed

Obama's legacy on race relations is seen as mixed. (AP)As the presidential candidates attack each other over racial politics, black leaders say Obama's record looks mixed.


Dangerous humanitarian mission in Iraq

Clearing mines amid the rubble of war. (Yahoo News)A team made up mostly of Kurdish civilians is tasked with clearing explosive devices before displaced Iraqi residents can return to their homes.