Showing posts with label Daily Telegraph. Show all posts
Showing posts with label Daily Telegraph. Show all posts
Friday, February 8, 2019
Murdoch's News Corp posts profit as newspapers struggle
NEW YORK -- Rupert Murdoch's News Corp said Thursday it swung to profit in the most recent quarter even as revenues dipped for its newspaper operations.
Profit in the three months through December amounted to $119 million, compared with a loss of $66 million a year earlier, for the conglomerate that publishes the Wall Street Journal, The Times of London, and titles in Australia.
Revenues rose 21 percent year-over-year as gains from new video subscription services, Australian pay TV and other operations offset weakness in the news and information unit.
The New York-based group also saw gains from its digital real estate and book publishing operations.
Chief executive Robert Thomson said the results showed "the power of premium content and authenticated audiences in a fact-challenged world that craves credibility."
He noted digital subscription gains at the Wall Street Journal, and stronger digital advertising revenues in both the US and Australia.
Wall Street Journal digital subscriptions rose to 1.7 million at the end of December from 1.39 million a year earlier.
The digital subscriber base also rose at Australia's mastheads as well as The Times and The Sunday Times.
But overall revenues dropped 3 percent for the news division in a quarter marked by gains in digital advertising and declines in print revenue.
The company said one-third of revenues in news come from digital, compared with 29 percent a year earlier, following an industry trend.
The update for the fiscal second quarter also showed rising revenues at its HarperCollins book division lifted by the release of "Homebody" by Joanna Gaines and "The Next Person You Meet in Heaven" by Mitch Albom.
News Corp retained the publishing operations of Murdoch's media-entertainment empire after a 2013 split that created 21st Century Fox.
Murdoch, 87, began a gradual withdrawal from both companies in 2013, and now shares the title of chairman with his eldest son Lachlan at both firms.
source: news.abs-cbn.com
Friday, April 4, 2014
MH370 cover-up alleged as 'black box' locator nears
KUALA LUMPUR - Malaysian opposition leader Anwar Ibrahim accused the government of hiding information on Flight MH370, as a black-box detector was expected Friday in the search zone nearly a month after the plane vanished.
Anwar said he was "baffled" over the Malaysian military's failure to respond despite detecting the Malaysia Airlines Boeing 777 crossing back over the country's airspace following its mysterious detour.
"Unfortunately the manner in which this was handled after the first few days was clearly suspect," Anwar said in an interview with Britain's Daily Telegraph.
"One fact remains. Clearly information critical to our understanding is deemed missing. I believe the government knows more than us."
Malaysia's response to the crisis has been widely criticised, particularly by distraught relatives of the 153 Chinese people on the plane.
Australia, meanwhile, has assumed increasing responsibility over the physical search for the plane in the Indian Ocean.
Authorities coordinating the search said the Australian naval vessel Ocean Shield, carrying a US-supplied "black box" detector and underwater drone vehicle "for mapping the seafloor", was due to arrive in the area being scoured for wreckage as 14 planes continued the arduous search.
The plane went missing in the early hours of March 8 during a flight from Kuala Lumpur to Beijing with 239 people on board. Malaysia has said satellite data indicates it crashed in the Indian Ocean, far off western Australia.
But no debris indicating a crash site has been found despite an extensive search, as time runs out on the "black box" locator signal, which lasts only around 30 days.
- Malaysia 'wasted time' -
Malaysian authorities have said they are still stumped over what caused the plane to deviate from its course.
Malaysia's long-ruling government has a poor record on transparency, but Transport Minister Hishammuddin Hussein said this week it was "not hiding anything."
But Anwar, who recently had his acquittal on sodomy charges overturned in what he claims is a political smear by the government, said a "sophisticated" radar system that he authorised as finance minister in 1994 should have led to prompt military action.
Malaysia's armed forces said soon after the plane disappeared that its radar had picked up a unidentified object moving toward the Indian Ocean, but did not respond because it was not deemed hostile.
The decision has been criticised for losing valuable time in tracking the plane's movements. It took Malaysia one week to confirm the radar blip was MH370, and to subsequently reorient a huge search away from its initial focus in the South China Sea.
Anwar said Malaysia should have quickly notified other countries in the search to save them scouring "a place that they know cannot be the site of the plane".
A Malaysian government spokesman did not immediately respond to an AFP request for comment.
Fading hopes for determining MH370's fate are now focused on the Indian Ocean search, in what Australian Prime Minister Tony Abbott called "the most difficult in human history".
Malaysian Prime Minister Najib Razak toured the military base in Perth being used as a staging post and vowed "we will not rest" until the mystery is cracked.
"We want to find answers. We want to provide comfort to the families and we will not rest until answers are indeed found," Najib said, while admitting searchers faced a "gargantuan task."
- Window closing on black box -
Eight nations, many of whom do not normally work together, have rallied to look for clues in the Indian Ocean. They include Australia, Britain, China, Japan, New Zealand, Malaysia, South Korea and the United States.
Besides planes and vessels from the various nations, a British nuclear submarine with underwater search capabilities joined in Wednesday.
Despite the arrival of the black box detector, hopes of finding the box and its potentially revealing data are slim without a confirmed crash site.
Malaysian police chief Khalid Abu Bakar on Wednesday said all 227 passengers had been "cleared" of suspicion, as authorities probe a possible hijack or sabotage plot.
Police are still investigating the backgrounds of the plane's 12 crew, as well as ground staff and flight engineers, but Khalid indicated no progress had been made and added soberly that authorities may never know what happened.
Beijing has expressed its displeasure with Malaysia over the affair, and ties faced further strain over the kidnapping late Wednesday of a Chinese tourist from a Malaysian diving resort by unidentified gunmen.
source: www.abs-cbnnews.com
Friday, December 27, 2013
Britain to become Europe's biggest economy by 2030
LONDON - Britain will surpass France and Germany to become Europe's biggest economy by 2030, according to a study released on Thursday.
British research group the Centre for Economics and Business Research (CEBR) predicts that Britain's output will outstrip France's by 2018 before displacing Germany by around 2030.
But it will be overtaken by India and Brazil over the same time period, said the study.
"Germany is forecast to lose its position as the largest Western European economy to the UK around 2030 because of the UK's faster population growth and lesser dependence on the other European economies," the report said.
"If the euro were to break up, Germany's outlook would be much better," it added. "A Deutsche Mark-based Germany certainly would not be overtaken by the UK for many years if ever."
The think tank's chief executive claimed that Britain's economy would grow even faster if it left the European Union.
"My instinct is that in the short term, the impact of leaving the EU would undoubtedly be negative," Douglas McWilliams told the Daily Telegraph.
"My suspicion is that over a 15-year period, it would probably be positive."
source: www.abs-cbnnews.com
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