AGENCE FRANCE-PRESSE

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STOCKHOLM: Swedish clothing giant Hennes and Mauritz (H&M) Thursday announced the launch of its eighth fashion brand as tough market conditions in the US and Central Europe hurt profits. H&M’s pretax profit fell to 3.2 billion kronor (335 million euros, $360 million) in the December to February period, the first…

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WASHINGTON, D.C.: A US central banker said on Wednesday (Thursday in Manila) he favors four increases in the key interest rate this year, one more than projected by the majority of Federal Reserve policymakers. Boston Federal Reserve Bank President Eric Rosengren, previously known for supporting the Fed’s ultra-accommodative policy, seems…

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REYKJAVIK: Once reviled symbols of rogue capitalism, Iceland’s ex-bankers now say they were scapegoats: jailed for their roles in the 2008 financial crisis, they’re taking their cases to the European Court of Human Rights. In 2008, after Iceland’s inflated financial system imploded, the three main banks Kaupthing, Glitnir, and Landsbanki…

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WASHINGTON, D.C.: Westinghouse’s bankruptcy announcement Wednesday cast a pall over the future of nuclear energy in the United States and comes as the Trump administration seeks to revive the coal industry. Charles Fishman, an analyst at the investment firm Morningstar, said chances were slim that the industry would commit to…

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FRANKFURT AM MAIN: Daimler, the world’s biggest luxury carmaker, said Wednesday it will speed up development of electric vehicles, aiming for 10 new models within five years rather than eight. “Emissions-free driving is at the centre of our strategy. In the coming years we will spend 10 billion euros ($10.8…

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CHIBA, Japan: Angry investors lambasted Toshiba executives at a shareholder meeting Thursday after it warned annual losses could balloon to more than $9.0 billion but agreed to the sale of its memory chip unit, the jewel in the firm’s crown. The heated meeting held just outside Tokyo comes a day…

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LOS ANGELES: Stephen Curry and Klay Thompson led the Golden State Warriors to a magnificent come-from-behind victory over the San Antonio Spurs on Wednesday (Thursday in Manila) on a record-breaking night for Oklahoma City’s Russell Westbrook. Curry and Thompson — the fabled “Splash Brothers” of the Warriors offense — combined…

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WASHINGTON: Five-time major winner Phil Mickelson and Jordan Spieth, the 2015 Masters champion who bungled a repeat bid, begin play Thursday (Friday in Manila) at the PGA Houston Open with the Masters looming next week. Also in the field a week before the year’s first major championship at Augusta National…

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HONG KONG: The Asian Tour is aiming to hold more tournaments in “golf-crazy” South Korea and Japan after striking a breakthrough deal to return to China. “Korea is an instrumental market for golf in Asia,” the Asian Tour’s CEO Josh Burack told Agence France-Presse in a telephone interview Thursday. Two…

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