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Google on Thursday canceled a Town Hall intended to air viewpoints on diversity, sexism and free speech, citing worker safety concerns.

&quot;We&#39;ll find a better way to help our employees connect and discuss these important issues further,&quot; said a Google spokesperson.

The employee gathering was scheduled to air viewpoints swirling in after the dismissal of a Google engineer over a memo defending the Silicon Valley gender gap.

The &quot;manifesto&quot; published as an internal memo by James Damore claimed, &quot;biological differences&quot; were a key factor in the low percentage of women in technology jobs and sparked an outcry from those claiming it perpetuated stereotypes and discrimination.

Then Damore was fired -- according to media reports and his own email to the far-right news website Breitbart -- which ignited backlash from those claiming Google was stifling free speech and politically conservative viewpoints.

News of the Town Hall cancelation was sent to employees in a memo from chief executive Sundar Pichai, who apologized to them for giving late notice.

Questions being posed internally by &quot;Googlers,&quot; along with some of their names, began appearing on outside websites, prompting safety concerns.

&quot;We had hoped to have a frank, open discussion today as we always do to bring us together and move forward,&quot; Pichai said in the memo.

&quot;Googlers are writing in, concerned about their safety and worried they may be &#39;outed&#39; publicly for asking a question in the Town Hall.&quot;

He said Google intends a series of internal forums in coming days to give people chances to speak freely without fear.

Pichai said that he has met with many people at Google about the controversy, with the vast majority supporting the decision to fire the author of the manifesto.

The company has not officially identified the engineer at issue, citing employee privacy.

The fresh controversy comes with Silicon Valley struggling in the face of accusations of rampant sexual harassment and discrimination affecting startups like Uber and venture capital firms investing in the sector.

Earlier this week, Pichai said employees have a right to express themselves but that the memo appeared to &quot;cross the line by advancing harmful gender stereotypes in our workplace.&quot;

&quot;To suggest a group of our colleagues have traits that make them less biologically suited to that work is offensive and not OK,&quot; Pichai said in his email to employees.

Damore&#39;s firing made him a hero to the far right and those claiming political correctness has gone too far.

The employee gathering was scheduled to air viewpoints swirling in after the dismissal of a Google engineer over a memo defending the Silicon Valley gender gap

Google on Thursday canceled a Town Hall intended to air viewpoints on diversity, sexism and free speech, citing worker safety concerns. "We'll find a better way to help our employees connect and discuss these important issues further," said a Google spokesperson. The employee gathering was scheduled to air viewpoints swirling in after the dismissal of a Google engineer over a memo defending the Silicon Valley gender gap. The "manifesto" published as an internal memo by James Damore claimed, "biological differences" were a key factor in the low percentage of women in technology jobs and sparked an outcry from those claiming it perpetuated stereotypes and discrimination. Then Damore was fired -- according to media reports and his own email to the far-right news website Breitbart -- which ignited backlash from those claiming Google was stifling free speech and politically conservative viewpoints. News of the Town Hall cancelation was sent to employees in a memo from chief executive Sundar Pichai, who apologized to them for giving late notice. Questions being posed internally by "Googlers," along with some of their names, began appearing on outside websites, prompting safety concerns. "We had hoped to have a frank, open discussion today as we always do to bring us together and move forward," Pichai said in the memo. "Googlers are writing in, concerned about their safety and worried they may be 'outed' publicly for asking a question in the Town Hall." He said Google intends a series of internal forums in coming days to give people chances to speak freely without fear. Pichai said that he has met with many people at Google about the controversy, with the vast majority supporting the decision to fire the author of the manifesto. The company has not officially identified the engineer at issue, citing employee privacy. The fresh controversy comes with Silicon Valley struggling in the face of accusations of rampant sexual harassment and discrimination affecting startups like Uber and venture capital firms investing in the sector. Earlier this week, Pichai said employees have a right to express themselves but that the memo appeared to "cross the line by advancing harmful gender stereotypes in our workplace." "To suggest a group of our colleagues have traits that make them less biologically suited to that work is offensive and not OK," Pichai said in his email to employees. Damore's firing made him a hero to the far right and those claiming political correctness has gone too far.

Google cancels diversity Town Hall

Stocks around the world fell sharply on Thursday and investors moved into the yen, gold and other safe-haven assets amid more aggressive talk between the United States and North Korea.

MSCI&#39;s gauge of stocks across the globe shed 0.77 per cent, on track for its third straight day of declines as it pulled further back from all-time highs.

The Japanese yen hit an eight-week high against the US&nbsp;dollar, while spot gold also reached a two-month high.

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific island territory of Guam in an unusually detailed threat that further heightened tensions with the United States.

The rise in geopolitical tensions this week, which heightened after US President Donald Trump on Tuesday warned North Korea that it would face &quot;fire and fury&quot; if it threatened the United States, has drawn investor attention away from second-quarter corporate earnings season, which is winding down.

&quot;The story today is North Korea and there was nothing in the earnings that was bullish enough to pull people away from focusing on North Korea,&quot; said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.

The Dow Jones Industrial Average fell 94.55 points, or 0.43 per cent, to 21,954.15, the S&amp;P 500 lost 19.51 points, or 0.79 per cent, to 2,454.51 and the Nasdaq Composite dropped 76.39 points, or 1.2 per cent, to 6,275.94.

Shares of US department stores Kohl&#39;s and Macy&#39;s were weak after their results.

The pan-European FTSEurofirst 300 index lost 1.19 per cent.

Shares of staffing firm Adecco slumped 6.4 per cent after its results.

In currencies, the yen strengthened 0.64 per cent versus the greenback at 109.37 per dollar.

&quot;The yen is the big story really. Risk aversion is still very much a concern for markets,&quot; said Shaun Osborne, chief currency strategist, at Scotiabank in Toronto.

The dollar index, which measures against a basket of currencies, fell 0.05 per cent.

The dollar weakened after news that US producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

US Treasury long-dated yields dropped to six-week lows, pressured by US-North Korea tensions and the weak data that further reduced expectations of an interest rate hike in December.

Benchmark 10-year notes last rose 5/32 in price to yield 2.2255 per cent, from 2.242 per cent late on Wednesday.

The 30-year bond last rose 5/32 in price to yield 2.8107 per cent, from 2.818 per cent late on Wednesday.

In commodities, US. crude fell 0.67 per cent to $49.23 per barrel and Brent was last at $52.58, down 0.23 per cent on the day.

Spot gold added 0.7 per cent to $1,285.70 an ounce.

&quot;For now, the uptrend is very much intact in gold, reacting to external geopolitical events,&quot; said Jonathan Butler, commodities analyst at Mitsubishi in London.

The Japanese yen hit an eight-week high against the US?dollar, while spot gold also reached a two-month high

Stocks around the world fell sharply on Thursday and investors moved into the yen, gold and other safe-haven assets amid more aggressive talk between the United States and North Korea. MSCI's gauge of stocks across the globe shed 0.77 per cent, on track for its third straight day of declines as it pulled further back from all-time highs. The Japanese yen hit an eight-week high against the US dollar, while spot gold also reached a two-month high. North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific island territory of Guam in an unusually detailed threat that further heightened tensions with the United States. The rise in geopolitical tensions this week, which heightened after US President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States, has drawn investor attention away from second-quarter corporate earnings season, which is winding down. "The story today is North Korea and there was nothing in the earnings that was bullish enough to pull people away from focusing on North Korea," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. The Dow Jones Industrial Average fell 94.55 points, or 0.43 per cent, to 21,954.15, the S&P 500 lost 19.51 points, or 0.79 per cent, to 2,454.51 and the Nasdaq Composite dropped 76.39 points, or 1.2 per cent, to 6,275.94. Shares of US department stores Kohl's and Macy's were weak after their results. The pan-European FTSEurofirst 300 index lost 1.19 per cent. Shares of staffing firm Adecco slumped 6.4 per cent after its results. In currencies, the yen strengthened 0.64 per cent versus the greenback at 109.37 per dollar. "The yen is the big story really. Risk aversion is still very much a concern for markets," said Shaun Osborne, chief currency strategist, at Scotiabank in Toronto. The dollar index, which measures against a basket of currencies, fell 0.05 per cent. The dollar weakened after news that US producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase. US Treasury long-dated yields dropped to six-week lows, pressured by US-North Korea tensions and the weak data that further reduced expectations of an interest rate hike in December. Benchmark 10-year notes last rose 5/32 in price to yield 2.2255 per cent, from 2.242 per cent late on Wednesday. The 30-year bond last rose 5/32 in price to yield 2.8107 per cent, from 2.818 per cent late on Wednesday. In commodities, US. crude fell 0.67 per cent to $49.23 per barrel and Brent was last at $52.58, down 0.23 per cent on the day. Spot gold added 0.7 per cent to $1,285.70 an ounce. "For now, the uptrend is very much intact in gold, reacting to external geopolitical events," said Jonathan Butler, commodities analyst at Mitsubishi in London.

As North Korea rattle drags down stocks, value of gold and yen rise

The BSE Sensex lost 336 points in early trade and the NSE Nifty slipped below the 9,800-mark following global sell-off <a href="http://www.wionews.com/world/north-korea-says-it-will-develop-guam-strike-plan-by-mid-august-18789">triggered by tensions between the US and North Korea</a>.

The markets were also cautious ahead of the IIP data for June which is set to be released later today.

The BSE 30-share barometer dipped 336.46 points, or 1.06 per cent, to 31,194.87 with infrastructure, capital goods, realty, auto, metal and healthcare all in the red.&nbsp;

Tata Motors, L&amp;T, Sun Pharma, Cipla, ONGC, Dr Reddy&#39;s, Asian Paint, Hero MotoCorp, ICICI Bank, Tata Steel, Coal India and Maruti Suzuk declined sharply in early trade.

In the Asian market, Hong Kong&#39;s Hang Seng too fell while the Shanghai Composite Index plunged 1.30 per cent.

&nbsp;Earlier, Wall Street closed sharply lower after as US President Donald Trump issued a new warning to North Korea. The S&amp;P 500 index had its biggest one-day drop in almost three months.

<a href="http://www.wionews.com/business-economy/global-stocks-dollar-extend-slide-as-tensions-between-us-north-korea-escalate-18859">The Dow Jones Industrial Average closed down 204.69 points, or 0.93 per cent, at 21,844.01</a>, the S&amp;P 500 lost 35.81 points, or 1.45 per cent, to end the session at 2,438.21 and the Nasdaq Composite fell 135.46 points, or 2.13 per cent, to 6,216.87.

Australian shares were down 1.3 per cent, set for a weekly loss of 0.5 per cent.&nbsp;South Korea&#39;s KOSPI fell 1.8 per cent to a 9 1/2-week low, taking its losses this week to nearly 2.7 per cent.

The Korean won also continued to skid, sliding 0.4 per cent to 1,146.2, below its 200-day moving average.

The BSE 30-share barometer dipped 336.46 points while the Nifty slipped below the 9,800-mark

The BSE Sensex lost 336 points in early trade and the NSE Nifty slipped below the 9,800-mark following global sell-off triggered by tensions between the US and North Korea. The markets were also cautious ahead of the IIP data for June which is set to be released later today. The BSE 30-share barometer dipped 336.46 points, or 1.06 per cent, to 31,194.87 with infrastructure, capital goods, realty, auto, metal and healthcare all in the red. Tata Motors, L&T, Sun Pharma, Cipla, ONGC, Dr Reddy's, Asian Paint, Hero MotoCorp, ICICI Bank, Tata Steel, Coal India and Maruti Suzuk declined sharply in early trade. In the Asian market, Hong Kong's Hang Seng too fell while the Shanghai Composite Index plunged 1.30 per cent. Earlier, Wall Street closed sharply lower after as US President Donald Trump issued a new warning to North Korea. The S&P 500 index had its biggest one-day drop in almost three months. The Dow Jones Industrial Average closed down 204.69 points, or 0.93 per cent, at 21,844.01, the S&P 500 lost 35.81 points, or 1.45 per cent, to end the session at 2,438.21 and the Nasdaq Composite fell 135.46 points, or 2.13 per cent, to 6,216.87. Australian shares were down 1.3 per cent, set for a weekly loss of 0.5 per cent. South Korea's KOSPI fell 1.8 per cent to a 9 1/2-week low, taking its losses this week to nearly 2.7 per cent. The Korean won also continued to skid, sliding 0.4 per cent to 1,146.2, below its 200-day moving average.

Sensex, Nifty fall over US, North Korea tensions

Asian equity markets extended a global slide on Friday as tensions ramped up between the United States and North Korea, sending investors fleeing to less risky assets such the yen, the Swiss franc and US&nbsp;Treasuries.

Wall Street closed sharply lower after US&nbsp;President Donald Trump issued a new round of fiery rhetoric, warning Pyongyang against attacking Guam or US&nbsp;allies after it disclosed plans to fire missiles over Japan to land near the US&nbsp;Pacific territory.

MSCI&#39;s broadest index of Asia-Pacific shares outside Japan skidded 1.4 per cent in its third session of declines to a near one-month low, heading for a 2.1 per cent drop for the week.

Australian shares were down 1.3 per cent, set for a weekly loss of 0.5 per cent. Japanese markets were closed for a holiday.

&quot;What has changed this time is that the scary threats and war of words between the US&nbsp;and North Korea have intensified to the point that markets can&#39;t ignore it,&quot; said Shane Oliver, head of the investment strategy at AMP Capital in Sydney.

&quot;Of course it&#39;s all come at a time when share markets are due for a correction so North Korea has provided a perfect trigger.&quot;

Many markets have climbed to record or multi-year highs, leaving them vulnerable to a sell-off.

Trump took specific aim at North Korean leader Kim Jong Un on Thursday, saying he had &quot;disrespected our country greatly&quot; and would not be &quot;getting away with it.&quot;

South Korea&#39;s KOSPI fell 1.8 per cent to a 9 1/2-week low, taking its losses this week to nearly 2.7 per cent.

The Korean won also continued to skid, sliding 0.4 per cent to 1,146.2, below its 200-day moving average.

Chinese blue-chips lost 0.9 per cent, while Hong Kong&#39;s Hang Seng was 1.6 per cent lower.

If North Korea launches an attack that threatens the United States,&nbsp;then China should stay neutral, but if the United States attacks first and tries to overthrow North Korea&#39;s government China will stop them, a Chinese state-run newspaper said on Friday.

&quot;This situation is beginning to develop into this generation&#39;s Cuban Missile crisis moment, with recent leaked intelligence reports alleging that North Korea now has miniaturised its nuclear warheads, which extends the range of its missiles, and potentially brings US&nbsp;targets into reach,&quot; ING&#39;s chief Asia economist Robert Carnell said in a research note on Friday.

&quot;While the US&nbsp;President insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution,&quot; Carnell said.

Trump&#39;s threat earlier this week, to unleash &quot;fire and fury&quot; on Pyongyang if it attacked, was ultimately dismissed as bluster by many investors.

Trump&#39;s second warning, however, has shaken markets that have been largely resilient this year, swatting away a slew of risks. These have ranged from an investigation into Russia&#39;s possible interference in the 2016 US&nbsp;presidential election, to concerns about China&#39;s risky debt levels, to stubbornly low inflation in the US.

The CBOE Volatility Index, the most widely followed barometer of expected near-term US&nbsp;stock market volatility, rose the most in about 12 weeks. The index closed at 16.04 overnight, the highest level since Nov. 8, when Trump was elected president.

The Chinese volatility gauge jumped by the most since January 2016. It was at its highest level in more than seven months.

On Wall Street overnight, the Nasdaq retreated 2.1 per cent, while the S&amp;P 500 was down 1.4 per cent, and the Dow Jones Industrial Average pulled back 0.9 per cent.[.N]

US&nbsp;stock futures were 0.1 per cent lower on Friday.

The MSCI World index slipped 0.1 per cent, extending Thursday&#39;s 1.1 per cent drop, its biggest one-day slide since May 17, hurt by the escalating US-North Korea tensions.

The dollar extended losses against the yen to hit a new two-month low. It was down 0.2 per cent at 108.96 yen, after retreating 0.7 per cent on Thursday.

The yen is perceived as a safe haven because Japan is the world&#39;s biggest creditor country and investors there have tended to repatriate funds in times of crisis.

Low US&nbsp;Treasury yields are also weighing on the dollar. The yield on the benchmark 10-year Treasury fell as low as 2.197 per cent, its lowest level since June 28, before inching back to 2.201 per cent.

The dollar pulled back 0.1 per cent to $0.9635 Swiss francs on Friday, after dropping as much as 1.2 per cent to a two-week low overnight.

The dollar was steady against a basket of six major currencies at 93.385 after falling 0.2 per cent on Thursday, with disappointing US&nbsp;inflation and jobs data adding to the greenback&#39;s woes.

US&nbsp;producer prices unexpectedly fell in July, recording their biggest drop in nearly a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week.

Markets are now focused on US&nbsp;consumer price data for July, due later in the session.

Spot gold prices were unchanged at $1,286.27 an ounce, after touching a two-month high earlier. They have soared over 2 per cent in the previous two sessions, and are set for a weekly gain of 2.26 per cent.

US&nbsp;crude futures extended losses from Thursday when they tumbled 2 per cent on fears of slowing demand and lingering concerns over a global oversupply.

They were down 0.7 per cent at $48.24 per barrel, on track for a weekly loss of 2.7 per cent.

Global benchmark Brent lost 0.7 per cent to $51.53, after Thursday&#39;s 1.5 per cent drop. It is poised to end the week down 1.7 per cent.

Wall Street closed sharply lower after US?President Donald Trump issued a new round of fiery rhetoric, warning Pyongyang against attacking Guam or US?allies after it disclosed plans to fire missiles over Japan to land near the US?Pacific territory

Asian equity markets extended a global slide on Friday as tensions ramped up between the United States and North Korea, sending investors fleeing to less risky assets such the yen, the Swiss franc and US Treasuries. Wall Street closed sharply lower after US President Donald Trump issued a new round of fiery rhetoric, warning Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the US Pacific territory. MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.4 per cent in its third session of declines to a near one-month low, heading for a 2.1 per cent drop for the week. Australian shares were down 1.3 per cent, set for a weekly loss of 0.5 per cent. Japanese markets were closed for a holiday. "What has changed this time is that the scary threats and war of words between the US and North Korea have intensified to the point that markets can't ignore it," said Shane Oliver, head of the investment strategy at AMP Capital in Sydney. "Of course it's all come at a time when share markets are due for a correction so North Korea has provided a perfect trigger." Many markets have climbed to record or multi-year highs, leaving them vulnerable to a sell-off. Trump took specific aim at North Korean leader Kim Jong Un on Thursday, saying he had "disrespected our country greatly" and would not be "getting away with it." South Korea's KOSPI fell 1.8 per cent to a 9 1/2-week low, taking its losses this week to nearly 2.7 per cent. The Korean won also continued to skid, sliding 0.4 per cent to 1,146.2, below its 200-day moving average. Chinese blue-chips lost 0.9 per cent, while Hong Kong's Hang Seng was 1.6 per cent lower. If North Korea launches an attack that threatens the United States, then China should stay neutral, but if the United States attacks first and tries to overthrow North Korea's government China will stop them, a Chinese state-run newspaper said on Friday. "This situation is beginning to develop into this generation's Cuban Missile crisis moment, with recent leaked intelligence reports alleging that North Korea now has miniaturised its nuclear warheads, which extends the range of its missiles, and potentially brings US targets into reach," ING's chief Asia economist Robert Carnell said in a research note on Friday. "While the US President insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution," Carnell said. Trump's threat earlier this week, to unleash "fire and fury" on Pyongyang if it attacked, was ultimately dismissed as bluster by many investors. Trump's second warning, however, has shaken markets that have been largely resilient this year, swatting away a slew of risks. These have ranged from an investigation into Russia's possible interference in the 2016 US presidential election, to concerns about China's risky debt levels, to stubbornly low inflation in the US. The CBOE Volatility Index, the most widely followed barometer of expected near-term US stock market volatility, rose the most in about 12 weeks. The index closed at 16.04 overnight, the highest level since Nov. 8, when Trump was elected president. The Chinese volatility gauge jumped by the most since January 2016. It was at its highest level in more than seven months. On Wall Street overnight, the Nasdaq retreated 2.1 per cent, while the S&P 500 was down 1.4 per cent, and the Dow Jones Industrial Average pulled back 0.9 per cent.[.N] US stock futures were 0.1 per cent lower on Friday. The MSCI World index slipped 0.1 per cent, extending Thursday's 1.1 per cent drop, its biggest one-day slide since May 17, hurt by the escalating US-North Korea tensions. The dollar extended losses against the yen to hit a new two-month low. It was down 0.2 per cent at 108.96 yen, after retreating 0.7 per cent on Thursday. The yen is perceived as a safe haven because Japan is the world's biggest creditor country and investors there have tended to repatriate funds in times of crisis. Low US Treasury yields are also weighing on the dollar. The yield on the benchmark 10-year Treasury fell as low as 2.197 per cent, its lowest level since June 28, before inching back to 2.201 per cent. The dollar pulled back 0.1 per cent to $0.9635 Swiss francs on Friday, after dropping as much as 1.2 per cent to a two-week low overnight. The dollar was steady against a basket of six major currencies at 93.385 after falling 0.2 per cent on Thursday, with disappointing US inflation and jobs data adding to the greenback's woes. US producer prices unexpectedly fell in July, recording their biggest drop in nearly a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week. Markets are now focused on US consumer price data for July, due later in the session. Spot gold prices were unchanged at $1,286.27 an ounce, after touching a two-month high earlier. They have soared over 2 per cent in the previous two sessions, and are set for a weekly gain of 2.26 per cent. US crude futures extended losses from Thursday when they tumbled 2 per cent on fears of slowing demand and lingering concerns over a global oversupply. They were down 0.7 per cent at $48.24 per barrel, on track for a weekly loss of 2.7 per cent. Global benchmark Brent lost 0.7 per cent to $51.53, after Thursday's 1.5 per cent drop. It is poised to end the week down 1.7 per cent.

Global stocks, dollar extend slide as tensions between US-North Korea escalate

Toshiba Corp is still trying to sell its chip business by the end of the current fiscal year to next March, but has not decided what to do if those efforts fail, CEO Satoshi Tsunakawa said on Thursday.

The conglomerate hopes auctioning its chip unit will help it pay debt and cover the impact of $6.3 billion in liabilities linked to Westinghouse, but talks on the sale have stalled.

The conglomerate hopes auctioning its chip unit will help it pay debt

Toshiba Corp is still trying to sell its chip business by the end of the current fiscal year to next March, but has not decided what to do if those efforts fail, CEO Satoshi Tsunakawa said on Thursday. The conglomerate hopes auctioning its chip unit will help it pay debt and cover the impact of $6.3 billion in liabilities linked to Westinghouse, but talks on the sale have stalled.

Toshiba CEO: wants to close chip business sale by end-March

Thyssenkrupp will carefully evaluate any potential pension deal by Tata Steel before advancing with a hoped-for merger of both groups&#39; European steel businesses, the German company&#39;s finance chief said on Thursday.

&quot;If you read that Tata has a deal, that doesn&#39;t mean we can stand up a week later and say: Now we have a joint venture,&quot; Guido Kerkhoff told journalists after presenting third-quarter results.

&quot;Quality comes before time.&quot;

Britain&#39;s Sky News reported on Wednesday that Tata Steel was on the brink of detaching its 15 billion-pound ($19.45 billion) British Steel pension fund from its UK operations, a precondition for any merger deal with Thyssenkrupp to happen.

Thyssenkrupp will carefully evaluate any potential pension deal by Tata Steel before advancing with a hoped-for merger of both groups' European steel businesses, the German company's finance chief said on Thursday. "If you read that Tata has a deal, that doesn't mean we can stand up a week later and say: Now we have a joint venture," Guido Kerkhoff told journalists after presenting third-quarter results. "Quality comes before time." Britain's Sky News reported on Wednesday that Tata Steel was on the brink of detaching its 15 billion-pound ($19.45 billion) British Steel pension fund from its UK operations, a precondition for any merger deal with Thyssenkrupp to happen.

Thyssenkrupp won't rush into Tata Steel merger: CFO

Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a barrel, as a fall in US&nbsp;inventories bolstered expectations that the long-oversupplied market was moving toward balance.

Brent crude futures&nbsp;were up 58 cents or 1.2 per cent to $50.78 a barrel by 1:59 p.m. EDT (1759 GMT).

US&nbsp;West Texas Intermediate futures rose 68 cents or 1.4 per cent to $48.57 a barrel.

US&nbsp;crude stocks fell last week as refineries hiked output and imports dropped, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories fell 7.2 million barrels in the week ending July 21, more than the expected decrease of 2.6 million barrels. The decline was the fourth consecutive drop, giving support to the market.

This added to hopes a long-awaited rebalancing was underway in the oil market. Saudi Arabia said on Monday it would limit oil exports to 6.6 million barrels per day (bpd) in August, down nearly 1 million bpd from a year earlier.

&quot;Today&rsquo;s report has strengthened the bullish sentiment already prevailing in the market, although the longevity of the move remains in doubt,&quot; said Abhishek Kumar, Senior Energy Analyst at Interfax Energy&rsquo;s Global Gas Analytics in London. &quot;Nevertheless, the country&rsquo;s crude and gasoline stockpiles remain above their five-year averages, which will cap price gains.&quot;

The drawdown was a combination of higher exports from the United States, marginal decline in oil output and a rise in the refinery utilization rate, he said.

&quot;The market has been tightening and the refinery margins are strong,&quot; said PetroMatrix managing director Olivier Jakob, saying the US&nbsp;stock draw offered a boost to prices. &quot;You add geopolitical risk premium for Venezuela, and you&#39;ve got a strong market.&quot;

Venezuela, an OPEC member producing about 2 million bpd of oil, faces deepening economic woes and protests.

President Nicolas Maduro&#39;s opponents launched a two-day national strike on Wednesday to push him to abandon a weekend election. The United States is considering financial sanctions to halt dollar payments for Venezuelan oil.&nbsp;

Nigerian output slipped this week as leaks forced Shell to shut a pipeline exporting some 180,000 bpd of oil. Nigeria, which has been exempted from OPEC-led production curbs, has agreed to cap or cut output when it stabilised at 1.8 million bpd.

But analysts said the current oil price rally could encourage more production, particularly from the United States.

&quot;Relieved bulls should be careful what they wish for. Any price rebound will only embolden US&nbsp;shale producers at a time when rumours have started to emerge that the US&nbsp;shale boom is slowing,&quot; PVM oil analyst Stephen Brennock said in a note.

US?West Texas Intermediate futures rose 68 cents or 1.4 per cent to $48.57 a barrel

Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a barrel, as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance. Brent crude futures were up 58 cents or 1.2 per cent to $50.78 a barrel by 1:59 p.m. EDT (1759 GMT). US West Texas Intermediate futures rose 68 cents or 1.4 per cent to $48.57 a barrel. US crude stocks fell last week as refineries hiked output and imports dropped, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories fell 7.2 million barrels in the week ending July 21, more than the expected decrease of 2.6 million barrels. The decline was the fourth consecutive drop, giving support to the market. This added to hopes a long-awaited rebalancing was underway in the oil market. Saudi Arabia said on Monday it would limit oil exports to 6.6 million barrels per day (bpd) in August, down nearly 1 million bpd from a year earlier. "Today’s report has strengthened the bullish sentiment already prevailing in the market, although the longevity of the move remains in doubt," said Abhishek Kumar, Senior Energy Analyst at Interfax Energy’s Global Gas Analytics in London. "Nevertheless, the country’s crude and gasoline stockpiles remain above their five-year averages, which will cap price gains." The drawdown was a combination of higher exports from the United States, marginal decline in oil output and a rise in the refinery utilization rate, he said. "The market has been tightening and the refinery margins are strong," said PetroMatrix managing director Olivier Jakob, saying the US stock draw offered a boost to prices. "You add geopolitical risk premium for Venezuela, and you've got a strong market." Venezuela, an OPEC member producing about 2 million bpd of oil, faces deepening economic woes and protests. President Nicolas Maduro's opponents launched a two-day national strike on Wednesday to push him to abandon a weekend election. The United States is considering financial sanctions to halt dollar payments for Venezuelan oil. Nigerian output slipped this week as leaks forced Shell to shut a pipeline exporting some 180,000 bpd of oil. Nigeria, which has been exempted from OPEC-led production curbs, has agreed to cap or cut output when it stabilised at 1.8 million bpd. But analysts said the current oil price rally could encourage more production, particularly from the United States. "Relieved bulls should be careful what they wish for. Any price rebound will only embolden US shale producers at a time when rumours have started to emerge that the US shale boom is slowing," PVM oil analyst Stephen Brennock said in a note.

Oil jumps to near 8-week high after big draw in US crude stocks

Czech car manufacturer, Skoda is all set to reveal its first seven seater SUV Kodiaq in India.The limited edition market is already on sale in the global market.

The car is named after the Kodiak bear found in Archipelago in Alaska.&nbsp;

The international launch of the car has five engine options which include two diesel and three petrol, and three transmission options, 6-speed manual, 6-speed DSG and 7-speed DGS Transmission.

The Indian launch is expected to come with 2.0-litre TDI diesel engine mated 7-speed DSG transmission. Kodiaq is built on Volkswagen&#39;s MQB platform.&nbsp;

Skoda is also relaunching Skoda Octavia RS in India that will be priced at 20 lakhs. Later the company is also expected to launch the Rapid Monte Carlo.

The cars will be manufactured in Maharashtra in the company&#39;s Aurangabad facility.&nbsp;The Kodiaq will compete with Ford Endeavour and Isuzu MU-X.

The company is accepting bookings for the car since May.&nbsp;

&nbsp;

Czech car manufacturer, Skoda is all set to reveal its first seven seater SUV Kodiaq in India

Czech car manufacturer, Skoda is all set to reveal its first seven seater SUV Kodiaq in India.The limited edition market is already on sale in the global market. The car is named after the Kodiak bear found in Archipelago in Alaska. The international launch of the car has five engine options which include two diesel and three petrol, and three transmission options, 6-speed manual, 6-speed DSG and 7-speed DGS Transmission. The Indian launch is expected to come with 2.0-litre TDI diesel engine mated 7-speed DSG transmission. Kodiaq is built on Volkswagen's MQB platform. Skoda is also relaunching Skoda Octavia RS in India that will be priced at 20 lakhs. Later the company is also expected to launch the Rapid Monte Carlo. The cars will be manufactured in Maharashtra in the company's Aurangabad facility. The Kodiaq will compete with Ford Endeavour and Isuzu MU-X. The company is accepting bookings for the car since May.

Skoda Kodiaq SUV, Octavia RS, Rapid Monte Carlo to be unveiled in India

Lego has appointed Niels B. Christiansen to replace Bali Padda as chief executive, the Danish toymaker said on Thursday.

Christiansen was chief executive of the unlisted Danish thermostat maker Danfoss until last month, a position he took up in 2008.

Padda, who took over as chief executive for Lego eight months ago, was Lego&#39;s first foreign CEO.

Padda will take on a special advisory role with the LEGO Brand Group, the company said.

Lego has appointed Niels B. Christiansen to replace Bali Padda as chief executive, the Danish toymaker said on Thursday. Christiansen was chief executive of the unlisted Danish thermostat maker Danfoss until last month, a position he took up in 2008. Padda, who took over as chief executive for Lego eight months ago, was Lego's first foreign CEO. Padda will take on a special advisory role with the LEGO Brand Group, the company said.

Toymaker Lego appoints new chief executive

Security and Intelligence Services (India) shares made modest gains on their market debut on Thursday after a $122 million initial public offering, suggesting investors were cautious of the stock&#39;s high valuations.

The stock rose as much as 8 per cent to a high of 879.80 rupees in early trade, compared with the IPO issue price of 815 rupees. By 0600 GMT, it was trading 5 per cent higher at 855.75 rupees, in a Mumbai market that was down 0.24 per cent.

SIS, the second-largest security services provider by revenue in India and the first company from the sector to go public, also provides cash logistic services including automated teller machine cash replenishment. It also operates in security services and facilities management in Australia.

While higher demand for security services from companies as well as residential housing societies and opening of new banks will likely drive&nbsp;SIS&#39;s business, analysts said expensive valuations could be a drag on sentiment.

&quot;The medium-term outlook will depend on how the company actually performs, otherwise valuations are not comfortable at all,&quot; said Alpesh Thacker, an analyst at Centrum Broking.

Cash logistics and pest control were two of the segments analysts would be watching to gauge the company&#39;s performance, he added.

A subdued broader market after a crackdown and trading curbs on what the authorities call &quot;shell&quot; companies also weighed on the&nbsp;SIS&nbsp;listing.

The company&#39;s IPO last week had been oversubscribed 7 times.

India&#39;s IPO market has been on a roll this year, with companies raising $2.6 billion in the first half of 2017. That follows $4 billion worth of initial share sales in 2016 which was the best year for IPOs in six.

Several big listings including those from state-run General Insurance Corp of India and SBI Life Insurance are due in the coming months.

The main stock market index has hit a string of record highs in 2017, as both foreign and domestic funds poured billions of dollars into equities.

SIS, the second-largest security services provider by revenue in India and the first company from the sector to go public, also provides cash logistic services including automated teller machine cash replenishment

Security and Intelligence Services (India) shares made modest gains on their market debut on Thursday after a $122 million initial public offering, suggesting investors were cautious of the stock's high valuations. The stock rose as much as 8 per cent to a high of 879.80 rupees in early trade, compared with the IPO issue price of 815 rupees. By 0600 GMT, it was trading 5 per cent higher at 855.75 rupees, in a Mumbai market that was down 0.24 per cent. SIS, the second-largest security services provider by revenue in India and the first company from the sector to go public, also provides cash logistic services including automated teller machine cash replenishment. It also operates in security services and facilities management in Australia. While higher demand for security services from companies as well as residential housing societies and opening of new banks will likely drive SIS's business, analysts said expensive valuations could be a drag on sentiment. "The medium-term outlook will depend on how the company actually performs, otherwise valuations are not comfortable at all," said Alpesh Thacker, an analyst at Centrum Broking. Cash logistics and pest control were two of the segments analysts would be watching to gauge the company's performance, he added. A subdued broader market after a crackdown and trading curbs on what the authorities call "shell" companies also weighed on the SIS listing. The company's IPO last week had been oversubscribed 7 times. India's IPO market has been on a roll this year, with companies raising $2.6 billion in the first half of 2017. That follows $4 billion worth of initial share sales in 2016 which was the best year for IPOs in six. Several big listings including those from state-run General Insurance Corp of India and SBI Life Insurance are due in the coming months. The main stock market index has hit a string of record highs in 2017, as both foreign and domestic funds poured billions of dollars into equities.

SIS makes modest gains in IPO

Indian shares fell for a fourth straight session on Thursday, led by losses in financials and auto stocks, with Tata Motors weighing on the indexes after its first-quarter results failed to meet expectations.

The automaker&#39;s shares fell as much as 7.2 per cent to their lowest in over a year after the company&#39;s 42 per cent rise in June-quarter profit, helped by a one-off gain related to changes to Jaguar Land Rover&#39;s pension plans, failed to please investors.

Global sentiment was largely weak with Asian stocks falling as investors fretted about the simmering tensions between the United States and North Korea.

&quot;There are some stocks from which investors are shuffling their portfolio out, like pharma ... An element of profit-booking is also coming in which is causing nervousness, but nothing to be perturbed about,&quot; said Deven Choksey, promoter, KR Choksey.

The broader NSE Nifty was down 0.19 per cent at 9,888.90 as of 0544 GMT, while the benchmark BSE&nbsp;Sensex&nbsp;was 0.18 per cent lower at 31,739.23.

The Nifty Auto index fell as much as 2.2 per cent, its biggest percentage loss in over two-and-a-half months. Tata Motors, Eicher Motors and Motherson Sumi Systems pulled the index down, which has risen about 20 per cent this year as of Wednesday&#39;s close.

Financial stocks continued their decline, with the Nifty Bank index dipping 0.5 per cent and the Nifty PSU bank index losing as much as 1.9 per cent.

Nifty Pharma index snapped its six-day losing streak after Aurobindo Pharma&#39;s first-quarter performance and management commentary boosted sentiment. The drugmaker&#39;s shares rose as much as 5.9 per cent.

Indian shares fell for a fourth straight session on Thursday, led by losses in financials and auto stocks

Indian shares fell for a fourth straight session on Thursday, led by losses in financials and auto stocks, with Tata Motors weighing on the indexes after its first-quarter results failed to meet expectations. The automaker's shares fell as much as 7.2 per cent to their lowest in over a year after the company's 42 per cent rise in June-quarter profit, helped by a one-off gain related to changes to Jaguar Land Rover's pension plans, failed to please investors. Global sentiment was largely weak with Asian stocks falling as investors fretted about the simmering tensions between the United States and North Korea. "There are some stocks from which investors are shuffling their portfolio out, like pharma ... An element of profit-booking is also coming in which is causing nervousness, but nothing to be perturbed about," said Deven Choksey, promoter, KR Choksey. The broader NSE Nifty was down 0.19 per cent at 9,888.90 as of 0544 GMT, while the benchmark BSE Sensex was 0.18 per cent lower at 31,739.23. The Nifty Auto index fell as much as 2.2 per cent, its biggest percentage loss in over two-and-a-half months. Tata Motors, Eicher Motors and Motherson Sumi Systems pulled the index down, which has risen about 20 per cent this year as of Wednesday's close. Financial stocks continued their decline, with the Nifty Bank index dipping 0.5 per cent and the Nifty PSU bank index losing as much as 1.9 per cent. Nifty Pharma index snapped its six-day losing streak after Aurobindo Pharma's first-quarter performance and management commentary boosted sentiment. The drugmaker's shares rose as much as 5.9 per cent.

Sensex extends decline, Tata Motors skids

Gold on Thursday held steady near two-month highs hit the session before, bolstered by safe-haven demand triggered by rising tensions on the Korean peninsula. 
North Korea dismissed on Thursday warnings by US&nbsp;President Donald Trump that it would face &quot;fire and fury&quot; if it threatened the United States as a &quot;load of nonsense&quot;, and outlined detailed plans for a missile strike near the Pacific territory of Guam.

&quot;(Safe-haven demand) has settled down to a certain extent, but the market is still expecting more news to come,&quot; said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore.

&quot;North Korea doesn&#39;t seem like they&#39;re going to back down and the US&nbsp;has also made a very strong stance this time.&quot;

Geopolitical risk can boost demand for assets seen as safe-havens such as gold.

Spot gold had eased 0.1 per cent to $1,276.40 per ounce at 0322 GMT. The precious metal climbed 1.3 per cent in the previous session, its biggest gain since mid-May, and touched $1,278.66 an ounce, it highest level since June 14. 
 
US&nbsp;gold futures for December delivery rose 0.2 per cent to $1,281.90 per ounce on Thursday.

Asian stocks steadied and US&nbsp;Treasury bond prices fell slightly on Thursday as the risk aversion triggered by tensions between the United States and North Korea began to settle.

&quot;Amid all the sabre-rattling, we expect gold prices to continue to move higher and likely cross the $1,300 an ounce mark in relative short order,&quot; said INTL FCStone analyst Edward Meir.

The market was also waiting for data that would offer clues about the extent to which the strengthening US&nbsp;labour market is spilling over into inflation.

&quot;Investors tend to be more cautious ahead of economic data, especially when the prices are high. They might take profits first and wait to see what&#39;s going to happen before they move into the market again,&quot; said GoldSilver&#39;s Lan.

In other precious metals, silver was nearly flat at $16.90 per ounce after hitting its highest since June 15 earlier in the session.

Platinum was also almost unchanged at $971.75 per ounce. In the previous session, it marked its highest since April 21 at $980.60. 
Palladium prices were flat at $891.00 per ounce.

The market was also waiting for data that would offer clues about the extent to which the strengthening US labour market is spilling over into inflation.

Gold on Thursday held steady near two-month highs hit the session before, bolstered by safe-haven demand triggered by rising tensions on the Korean peninsula. North Korea dismissed on Thursday warnings by US President Donald Trump that it would face "fire and fury" if it threatened the United States as a "load of nonsense", and outlined detailed plans for a missile strike near the Pacific territory of Guam. "(Safe-haven demand) has settled down to a certain extent, but the market is still expecting more news to come," said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore. "North Korea doesn't seem like they're going to back down and the US has also made a very strong stance this time." Geopolitical risk can boost demand for assets seen as safe-havens such as gold. Spot gold had eased 0.1 per cent to $1,276.40 per ounce at 0322 GMT. The precious metal climbed 1.3 per cent in the previous session, its biggest gain since mid-May, and touched $1,278.66 an ounce, it highest level since June 14. US gold futures for December delivery rose 0.2 per cent to $1,281.90 per ounce on Thursday. Asian stocks steadied and US Treasury bond prices fell slightly on Thursday as the risk aversion triggered by tensions between the United States and North Korea began to settle. "Amid all the sabre-rattling, we expect gold prices to continue to move higher and likely cross the $1,300 an ounce mark in relative short order," said INTL FCStone analyst Edward Meir. The market was also waiting for data that would offer clues about the extent to which the strengthening US labour market is spilling over into inflation. "Investors tend to be more cautious ahead of economic data, especially when the prices are high. They might take profits first and wait to see what's going to happen before they move into the market again," said GoldSilver's Lan. In other precious metals, silver was nearly flat at $16.90 per ounce after hitting its highest since June 15 earlier in the session. Platinum was also almost unchanged at $971.75 per ounce. In the previous session, it marked its highest since April 21 at $980.60. Palladium prices were flat at $891.00 per ounce.

Gold inches down from near-two month high

Wall Street stocks fell for the second straight session Wednesday as worries about US-North Korea tensions rattled investors.

Analysts pointed to the harsh threats and sabre rattling from US President Donald Trump, including a message Wednesday on Twitter boasting &nbsp;the United States&#39; nuclear arsenal was now &quot;more powerful than ever before.&quot;

US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump&#39;s tone.

Mattis said North Korea must stop isolating itself and &quot;stand down&quot; in its pursuit of nuclear weapons, and Pyongyang &quot;should cease any consideration of actions that would lead to the end of its regime and the destruction of its people.&quot;

The Dow Jones Industrial Average shed 0.2 per cent to close the day at 22,048.70.

The broad-based S&amp;P 500 fell less than 0.1 per cent at the end at 2,474.02, while the tech-rich Nasdaq Composite Index dropped 0.3 per cent to 6,352.33.

The S&amp;P 500 volatility index, a measure of investor fear, rose for the second day.

&quot;It is a market that is beginning to encounter some major threats and of course the threat is geopolitical,&quot; said Peter Cardillo, chief market economist at First Standard Financial.

Dow member Disney dropped 3.9 per cent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business.&nbsp;

Disney also announced it will launch two new streaming television services including one for its ESPN-branded sports channel while ending its deal with Netflix as it shifts towards direct content distribution. Netflix lost 1.5 per cent.

Priceline sank 6.9 per cent as it projected third-quarter earnings below analyst expectations.

Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. Altice USA, the subsidiary of the French company, added 0.1 per cent.&nbsp;

Priceline sank 6.9 percent as it projected third-quarter earnings below analyst expectations

Wall Street stocks fell for the second straight session Wednesday as worries about US-North Korea tensions rattled investors. Analysts pointed to the harsh threats and sabre rattling from US President Donald Trump, including a message Wednesday on Twitter boasting the United States' nuclear arsenal was now "more powerful than ever before." US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump's tone. Mattis said North Korea must stop isolating itself and "stand down" in its pursuit of nuclear weapons, and Pyongyang "should cease any consideration of actions that would lead to the end of its regime and the destruction of its people." The Dow Jones Industrial Average shed 0.2 per cent to close the day at 22,048.70. The broad-based S&P 500 fell less than 0.1 per cent at the end at 2,474.02, while the tech-rich Nasdaq Composite Index dropped 0.3 per cent to 6,352.33. The S&P 500 volatility index, a measure of investor fear, rose for the second day. "It is a market that is beginning to encounter some major threats and of course the threat is geopolitical," said Peter Cardillo, chief market economist at First Standard Financial. Dow member Disney dropped 3.9 per cent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business. Disney also announced it will launch two new streaming television services including one for its ESPN-branded sports channel while ending its deal with Netflix as it shifts towards direct content distribution. Netflix lost 1.5 per cent. Priceline sank 6.9 per cent as it projected third-quarter earnings below analyst expectations. Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. Altice USA, the subsidiary of the French company, added 0.1 per cent.

US stocks fall as North Korea worries rise

Tokyo stocks opened higher Thursday as worries about US-North Korea tensions eased while the yen&#39;s appreciation against the dollar peaked out.

The benchmark Nikkei 225 index rose 0.18 per cent, or 35.87 points, to 19,774.58 in the first few minutes while the Topix index of all first-section issues was up 0.07 per cent, or 1.12 points, at 1,619.02.

The slight rally came after world stock markets slid Wednesday on concerns linked to the harsh threats and sabre rattling from US President Donald Trump against Pyongyang.

Trump warned North Korean leader Kim Jong-Un that he faced &quot;fire and fury&quot; over his weapons and ballistic missile programs.

Trump, enjoying a working holiday at his New Jersey golf course, went on to boast that the US nuclear arsenal was &quot;more powerful than ever.&quot; &nbsp;&nbsp;

Secretary of State Rex Tillerson took a very different tone, insisting there was &quot;no immediate threat&quot; from North Korea.

&quot;The comments by the State Secretary is a message that nothing important has been decided on North Korea,&quot; Haruki Kawaguchi, a manager in the stock trading department at Marusan Securities, told Bloomberg News.

Separately, however, US Defense Secretary Jim Mattis, who has often emphasised the devastating costs any conflict with North Korea could have, delivered a statement underscoring his boss&#39;s language.

The dollar fetched 110.09 yen in early Asian trade Thursday, slightly up from 110.02 yen in New York on Wednesday but down from 109.74 yen in Tokyo time Wednesday.

&quot;Amid tensions in the international arena, it&#39;s difficult to seek higher prices ahead of three days of holidays,&quot; Kawaguchi added.

The Tokyo markets will be closed on Friday for a national holiday and will reopen Monday.

Japan Display dropped 5.12 per cent to 185 yen after the smartphone screen maker said it would slash 3,700 jobs, or about 40 per cent of its workforce, adding the total restructuring costs would be about 170 billion yen ($1.5 billion).

Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Tokyo stocks opened higher Thursday as worries about US-North Korea tensions eased while the yen's appreciation against the dollar peaked out. The benchmark Nikkei 225 index rose 0.18 per cent, or 35.87 points, to 19,774.58 in the first few minutes while the Topix index of all first-section issues was up 0.07 per cent, or 1.12 points, at 1,619.02. The slight rally came after world stock markets slid Wednesday on concerns linked to the harsh threats and sabre rattling from US President Donald Trump against Pyongyang. Trump warned North Korean leader Kim Jong-Un that he faced "fire and fury" over his weapons and ballistic missile programs. Trump, enjoying a working holiday at his New Jersey golf course, went on to boast that the US nuclear arsenal was "more powerful than ever." Secretary of State Rex Tillerson took a very different tone, insisting there was "no immediate threat" from North Korea. "The comments by the State Secretary is a message that nothing important has been decided on North Korea," Haruki Kawaguchi, a manager in the stock trading department at Marusan Securities, told Bloomberg News. Separately, however, US Defense Secretary Jim Mattis, who has often emphasised the devastating costs any conflict with North Korea could have, delivered a statement underscoring his boss's language. The dollar fetched 110.09 yen in early Asian trade Thursday, slightly up from 110.02 yen in New York on Wednesday but down from 109.74 yen in Tokyo time Wednesday. "Amid tensions in the international arena, it's difficult to seek higher prices ahead of three days of holidays," Kawaguchi added. The Tokyo markets will be closed on Friday for a national holiday and will reopen Monday. Japan Display dropped 5.12 per cent to 185 yen after the smartphone screen maker said it would slash 3,700 jobs, or about 40 per cent of its workforce, adding the total restructuring costs would be about 170 billion yen ($1.5 billion). Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Tokyo stocks open higher as worries about US-North Korea tensions ease

The Nikkei slumped to its lowest close for almost three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump&#39;s apocalyptic warning over North Korea&#39;s weapons programme.&nbsp;

Escalating tensions around Pyongyang&#39;s nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks.&nbsp;

Tokyo&#39;s blue-chip index tumbled 1.3 per cent to its lowest close since late May after the Dow&#39;s winning streak of nine straight records ended following Trump&#39;s sharp rhetoric of &quot;fire and fury&quot;, with the main European bourses also opening lower Wednesday. &nbsp;

Hong Kong and Shanghai followed Tokyo into the red, as China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world&#39;s second-largest economy.&nbsp;

Stocks ended more than one per cent down in Seoul while the won slumped to a three-week low against the dollar as the US president and South Korea&#39;s volatile neighbour dramatically ramped up their war of words.

Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near US military installations in Guam.

But analysts said equities had also fallen as investors took profits.&nbsp;

&quot;North Korea is being used as a reason to sell Japanese stocks, just as it was used yesterday in the US,&quot; said Soichiro Monji from Daiwa SB Investments in Tokyo.

&quot;Japanese equities hadn&#39;t been rising much despite positive earnings results, so investors had started jumping at shadows, doubting whether they should really be holdings onto Japanese stocks.&quot;

US equities had been on track for a 10th-straight record session Tuesday and the dollar was initially up after the JOLTS survey showed job openings hit a record in the US last month.

Greg McKenna, an analyst at AxiTrader, said the data could bolster the Federal Reserve&#39;s plan to start winding in its multi-trillion-dollar bond holdings balance sheet, expected to be announced next month.&nbsp;

&quot;This is Janet Yellen&#39;s favoured labour market indicator and could reinforce Yellen and her colleagues about the path they have set for policy normalisation,&quot; he said.

The positive data also bolstered the greenback against the euro and the pound Wednesday. &nbsp;&nbsp;

Sydney was a rare bright spot in Asia-Pacific with stocks closing 0.4 per cent up as Australia&#39;s biggest bank posted record annual profits.

The Commonwealth Bank of Australia&#39;s profits are closely watched and the results provide a guidance on the health of the country&#39;s economy as it transitions away from a dependence on mining.

In commodities trading, US crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

Chris Weston, chief market strategist at IG Markets, said signals around oil production were &quot;messy&quot;.

The US Energy Information Administration raised its 2017 and 2018 US crude output estimates to 9.9 million and 9.33 million barrels a day respectively, Weston said, but &quot;on the other hand, we are hearing the UAE, Kazakhstan and Iraq will fully comply with the OPEC agreement&quot; to cut oversupply.

Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide

The Nikkei slumped to its lowest close for almost three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump's apocalyptic warning over North Korea's weapons programme. Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks. Tokyo's blue-chip index tumbled 1.3 per cent to its lowest close since late May after the Dow's winning streak of nine straight records ended following Trump's sharp rhetoric of "fire and fury", with the main European bourses also opening lower Wednesday. Hong Kong and Shanghai followed Tokyo into the red, as China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world's second-largest economy. Stocks ended more than one per cent down in Seoul while the won slumped to a three-week low against the dollar as the US president and South Korea's volatile neighbour dramatically ramped up their war of words. Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near US military installations in Guam. But analysts said equities had also fallen as investors took profits. "North Korea is being used as a reason to sell Japanese stocks, just as it was used yesterday in the US," said Soichiro Monji from Daiwa SB Investments in Tokyo. "Japanese equities hadn't been rising much despite positive earnings results, so investors had started jumping at shadows, doubting whether they should really be holdings onto Japanese stocks." US equities had been on track for a 10th-straight record session Tuesday and the dollar was initially up after the JOLTS survey showed job openings hit a record in the US last month. Greg McKenna, an analyst at AxiTrader, said the data could bolster the Federal Reserve's plan to start winding in its multi-trillion-dollar bond holdings balance sheet, expected to be announced next month. "This is Janet Yellen's favoured labour market indicator and could reinforce Yellen and her colleagues about the path they have set for policy normalisation," he said. The positive data also bolstered the greenback against the euro and the pound Wednesday. Sydney was a rare bright spot in Asia-Pacific with stocks closing 0.4 per cent up as Australia's biggest bank posted record annual profits. The Commonwealth Bank of Australia's profits are closely watched and the results provide a guidance on the health of the country's economy as it transitions away from a dependence on mining. In commodities trading, US crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut. Chris Weston, chief market strategist at IG Markets, said signals around oil production were "messy". The US Energy Information Administration raised its 2017 and 2018 US crude output estimates to 9.9 million and 9.33 million barrels a day respectively, Weston said, but "on the other hand, we are hearing the UAE, Kazakhstan and Iraq will fully comply with the OPEC agreement" to cut oversupply.

Dollar slumps, Tokyo tanks as North Korea tensions spike

Indian shares fell for a third consecutive session on Wednesday, dragged down by financial and healthcare stocks, as escalating tensions on the Korean peninsula hit regional markets.

Asian shares and US stock futures slipped after Pyongyang said it is considering plans to attack Guam, just hours after <a href="http://www.wionews.com/world/north-korea-threatens-strike-on-guam-after-trumps-fire-and-fury-warning-18729">US President Donald Trump told North Korea</a> that any threat to the United States would be met with &quot;fire and fury.&quot;

Analysts said any fall in domestic equities could be limited. Shares have hit records highs this year on prospects of improving earnings and economic and fiscal reforms from the government.

&quot;Global news flow is weighing heavy on the markets. I don&#39;t think there is more than 4-5 pct downside from the levels we&#39;ve seen recently,&quot; said Gaurang Shah, head investment strategist, Geojit Financial Services.

The broader NSE Nifty was down 0.29 per cent at 9,949.50 as of 0528 GMT, while the benchmark BSE&nbsp;Sensex&nbsp;was 0.38 per cent lower at 31,893.61.

Drugmaker Sun Pharmaceutical Industries&#39; shares slumped as much as 5 per cent to their lowest in over four years after unit Taro Pharmaceutical Industries June-qtr profit halved to $54.5 million.

The Nifty Pharma index fell as much as 2.2 per cent to its lowest in over two months.

Nifty Bank index was trading 0.5 per cent lower, after falling nearly a per cent in the last two sessions.

Asian shares and US stock futures slipped after Pyongyang said it is considering plans to attack Guam, just hours after US President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury."

Indian shares fell for a third consecutive session on Wednesday, dragged down by financial and healthcare stocks, as escalating tensions on the Korean peninsula hit regional markets. Asian shares and US stock futures slipped after Pyongyang said it is considering plans to attack Guam, just hours after US President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury." Analysts said any fall in domestic equities could be limited. Shares have hit records highs this year on prospects of improving earnings and economic and fiscal reforms from the government. "Global news flow is weighing heavy on the markets. I don't think there is more than 4-5 pct downside from the levels we've seen recently," said Gaurang Shah, head investment strategist, Geojit Financial Services. The broader NSE Nifty was down 0.29 per cent at 9,949.50 as of 0528 GMT, while the benchmark BSE Sensex was 0.38 per cent lower at 31,893.61. Drugmaker Sun Pharmaceutical Industries' shares slumped as much as 5 per cent to their lowest in over four years after unit Taro Pharmaceutical Industries June-qtr profit halved to $54.5 million. The Nifty Pharma index fell as much as 2.2 per cent to its lowest in over two months. Nifty Bank index was trading 0.5 per cent lower, after falling nearly a per cent in the last two sessions.

Sensex dips over Korea tension

US card payment processing giant Vantiv has agreed to buy British peer Worldpay for &pound;9.3 billion ($12.1 billion, 10.3 billion euros), the pair said Wednesday.

The blockbuster deal will create a leading international e-commerce payments provider that will process about $1.5 trillion in payments and 40 billion transactions per year in 146 countries and 126 currencies, they said in a statement.

The new group -- which will be called Worldpay -- will have a combined stock market value of approximately &pound;22.2 billion.

&quot;The boards of directors of Vantiv and Worldpay are pleased to announce that they have reached agreement on the terms of a recommended merger of Worldpay with Vantiv ... in the form of a recommended offer,&quot; they said in a statement to the London Stock Exchange.

The announcement, which followed an initial agreement last month, was billed as a merger but will see Vantiv shareholders take a 57 per cent stake of the combined group. Worldpay investors will hold 43 per cent.

The new company will have its global and corporate headquarters in Cincinnati, Ohio, while London will be its international base.

Vantiv will pay 397 pence per share for Worldpay, or &pound;8 billion, plus another &pound;1.3 billion to cover debts.

&quot;This is a powerful combination that is strategically compelling for both companies,&quot; added Charles Drucker, Vantiv president, and chief executive.

&quot;It joins two highly complementary businesses and will allow us to achieve even more together than either organisation could accomplish on its own.

&quot;Our combined company will have unparalleled scale, a comprehensive suite of solutions, and the worldwide reach to make us the payments industry global partner of choice.&quot;

Worldpay chief executive Philip Jansen added that the deal would offer &quot;substantial opportunities to capitalise on the rapid evolution of payments&quot;.

The deal will &quot;offer more payment solutions to businesses, whether large or small, global or local, enabling them to meet consumers&#39; increasing demands&quot;, he added.

Drucker will be executive chairman and co-chief executive of the new group, with Jansen as co-chief executive.

The combined company will have a secondary listing on the London stock market but will have its primary listing in New York.

Worldpay was formerly owned by Britain&#39;s state-rescued Royal Bank of Scotland, which sold off its remaining stake to private equity firms Advent International and Bain Capital in 2013.

The group was then floated on the London stock market in 2015.

The deal will create a leading international e-commerce payments provider that will process about $1.5 trillion in payments and 40 billion transactions per year in 146 countries and 126 currencies

US card payment processing giant Vantiv has agreed to buy British peer Worldpay for £9.3 billion ($12.1 billion, 10.3 billion euros), the pair said Wednesday. The blockbuster deal will create a leading international e-commerce payments provider that will process about $1.5 trillion in payments and 40 billion transactions per year in 146 countries and 126 currencies, they said in a statement. The new group -- which will be called Worldpay -- will have a combined stock market value of approximately £22.2 billion. "The boards of directors of Vantiv and Worldpay are pleased to announce that they have reached agreement on the terms of a recommended merger of Worldpay with Vantiv ... in the form of a recommended offer," they said in a statement to the London Stock Exchange. The announcement, which followed an initial agreement last month, was billed as a merger but will see Vantiv shareholders take a 57 per cent stake of the combined group. Worldpay investors will hold 43 per cent. The new company will have its global and corporate headquarters in Cincinnati, Ohio, while London will be its international base. Vantiv will pay 397 pence per share for Worldpay, or £8 billion, plus another £1.3 billion to cover debts. "This is a powerful combination that is strategically compelling for both companies," added Charles Drucker, Vantiv president, and chief executive. "It joins two highly complementary businesses and will allow us to achieve even more together than either organisation could accomplish on its own. "Our combined company will have unparalleled scale, a comprehensive suite of solutions, and the worldwide reach to make us the payments industry global partner of choice." Worldpay chief executive Philip Jansen added that the deal would offer "substantial opportunities to capitalise on the rapid evolution of payments". The deal will "offer more payment solutions to businesses, whether large or small, global or local, enabling them to meet consumers' increasing demands", he added. Drucker will be executive chairman and co-chief executive of the new group, with Jansen as co-chief executive. The combined company will have a secondary listing on the London stock market but will have its primary listing in New York. Worldpay was formerly owned by Britain's state-rescued Royal Bank of Scotland, which sold off its remaining stake to private equity firms Advent International and Bain Capital in 2013. The group was then floated on the London stock market in 2015.

US payment processing firm Vantiv takes over UK's Worldpay

The Tech war spearheaded by Apple, Google, Facebook & Microsoft is set to get hotter with the launch of Apple 8 next month. We take a look at who is likely to win this inevitable Game of Thrones...

Game of Tech: Apple, Google, Facebook, who will win?

U.S. trade officials have agreed to investigate Qualcomm Inc&#39;s allegations that Apple Inc infringed on patents with its iPhone 7 and other devices, the U.S. International Trade Commission said on Tuesday.

The ITC will make its decision &quot;at the earliest practicable time&quot; and will set a target date for completing its investigation within the next 45 days, the commission said in a statement.

Qualcomm filed the complaint in early July, asking U.S. trade regulators to ban certain models of the iPhone that contain so-called broadband modem chips, which help phones connect to wireless data networks, that were not made by Qualcomm. Apple began using broadband modem chips made by Intel Corp in the iPhone 7.

Qualcomm has not alleged that Intel chips violate its patents but says the way Apple uses them in the iPhone does.

&quot;We look forward to the ITC&rsquo;s expeditious investigation of Apple&rsquo;s ongoing infringement of our intellectual property and the accelerated relief that the commission can provide,&rdquo; Don Rosenberg, executive vice president and general counsel of Qualcomm, said in a statement.

Intel declined to comment. Apple pointed to Chief Executive Tim Cook&#39;s earlier comments that Qualcomm had not yet offered it &quot;fair and reasonable&quot; licensing terms for Qualcomm&#39;s technology.

&quot;I don&#39;t believe anyone is going to decide to enjoin the iPhone based on that,&quot; Cook told investors in May on the company&#39;s earnings call, his most recent public comment on the topic. &quot;I think that there&#39;s plenty of case law on that subject, but we shall see.&rdquo;

As the ITC considered whether to take up the case, a group representing Alphabet Inc&#39;s Google, Amazon.com Inc, Microsoft Corp and Facebook Inc sided last month with Apple, saying Qualcomm&#39;s request to bar the import of some iPhones would hurt consumers.

In turn, Qualcomm accused the group of &quot;a coordinated effort aimed at misdirecting&quot; the trade regulators. It said Apple was free to choose chips from a variety of vendors without necessarily infringing Qualcomm&#39;s patents.

The fight before trade regulators in Washington is one of the several major legal battles involving Qualcomm and Apple. The two companies have cases pending before separate federal courts in California, and Qualcomm also faces a complaint from the U.S. Federal Trade Commission.

Analysts are watching the ITC case closely because the trade regulator moves more quickly than many courts and could deliver a decision ahead of the pending lawsuits.

Qualcomm filed the complaint in early July, asking U.S. trade regulators to ban certain models of the iPhone

U.S. trade officials have agreed to investigate Qualcomm Inc's allegations that Apple Inc infringed on patents with its iPhone 7 and other devices, the U.S. International Trade Commission said on Tuesday. The ITC will make its decision "at the earliest practicable time" and will set a target date for completing its investigation within the next 45 days, the commission said in a statement. Qualcomm filed the complaint in early July, asking U.S. trade regulators to ban certain models of the iPhone that contain so-called broadband modem chips, which help phones connect to wireless data networks, that were not made by Qualcomm. Apple began using broadband modem chips made by Intel Corp in the iPhone 7. Qualcomm has not alleged that Intel chips violate its patents but says the way Apple uses them in the iPhone does. "We look forward to the ITC’s expeditious investigation of Apple’s ongoing infringement of our intellectual property and the accelerated relief that the commission can provide,” Don Rosenberg, executive vice president and general counsel of Qualcomm, said in a statement. Intel declined to comment. Apple pointed to Chief Executive Tim Cook's earlier comments that Qualcomm had not yet offered it "fair and reasonable" licensing terms for Qualcomm's technology. "I don't believe anyone is going to decide to enjoin the iPhone based on that," Cook told investors in May on the company's earnings call, his most recent public comment on the topic. "I think that there's plenty of case law on that subject, but we shall see.” As the ITC considered whether to take up the case, a group representing Alphabet Inc's Google, Amazon.com Inc, Microsoft Corp and Facebook Inc sided last month with Apple, saying Qualcomm's request to bar the import of some iPhones would hurt consumers. In turn, Qualcomm accused the group of "a coordinated effort aimed at misdirecting" the trade regulators. It said Apple was free to choose chips from a variety of vendors without necessarily infringing Qualcomm's patents. The fight before trade regulators in Washington is one of the several major legal battles involving Qualcomm and Apple. The two companies have cases pending before separate federal courts in California, and Qualcomm also faces a complaint from the U.S. Federal Trade Commission. Analysts are watching the ITC case closely because the trade regulator moves more quickly than many courts and could deliver a decision ahead of the pending lawsuits.

US Trade Commission to investigate Apple-Qualcomm legal dispute

Telecom regulator Trai has accused iPhone maker Apple of engaging in "data colonisation" in India and being "anti-consumer" by not allowing customers to pass on details about pesky calls.

Apple versus TRAI

Tokyo stocks dropped Wednesday morning as investors pressed the sell button in response to soaring tensions between the United States and North Korea.&nbsp;

The yen jumped against the dollar -- a negative for Japanese shares -- as traders looked for safe investments after President Donald Trump vowed a devastating response to any escalation of North Korea&#39;s nuclear programme.&nbsp;

&quot;North Korea best not make any more threats to the United States,&quot; said Trump, who was speaking from his golf club in New Jersey. &quot;They will be met with fire and fury like the world has never seen.&quot;

The US president&#39;s threat came after reports that North Korea has produced a nuclear warhead small enough to fit inside its missiles.&nbsp;

Trump&#39;s &quot;wording was strong...prompting (investors) to shun risk, boosting the yen and pushing the stock market down&quot;, said Mari Iwashita, chief market economist at SMBC Friend Securities.

Tokyo&#39;s benchmark Nikkei 225 index dropped 1.28 per cent, or 256.13 points, to 19,739.88 by the break while the Topix index of all first-section issues fell 1.26 per cent, or 20.59 points, to 1,614.73.

In currency markets, the dollar dropped as low as 109.74 yen, its lowest in about two months, from 110.39 yen in New York and the upper half of the 110-yen range in Tokyo earlier Tuesday.

A rise in the yen, which often draws safe-haven buying in times of uncertainty, is a negative for Japanese exporters as it reduces their repatriated profits.

Toyota shares tumbled 1.83 per cent to 6,220 yen and Nintendo was off 1.54 per cent to end the morning at 37,600 yen.

Major bank Mitsubishi UFJ fell 1.35 per cent at 701 yen.

Struggling conglomerate Toshiba rose 4.27 per cent to sit at 293 yen on expectations that it will meet a deadline to submit long-delayed earnings to financial regulators, easing fears the embattled stock will be delisted from Japan&#39;s premier exchange.

In currency markets, the dollar dropped as low as 109.74 yen, its lowest in about two months, from 110.39 yen in New York and the upper half of the 110-yen range in Tokyo earlier Tuesday.

Tokyo stocks dropped Wednesday morning as investors pressed the sell button in response to soaring tensions between the United States and North Korea. The yen jumped against the dollar -- a negative for Japanese shares -- as traders looked for safe investments after President Donald Trump vowed a devastating response to any escalation of North Korea's nuclear programme. "North Korea best not make any more threats to the United States," said Trump, who was speaking from his golf club in New Jersey. "They will be met with fire and fury like the world has never seen." The US president's threat came after reports that North Korea has produced a nuclear warhead small enough to fit inside its missiles. Trump's "wording was strong...prompting (investors) to shun risk, boosting the yen and pushing the stock market down", said Mari Iwashita, chief market economist at SMBC Friend Securities. Tokyo's benchmark Nikkei 225 index dropped 1.28 per cent, or 256.13 points, to 19,739.88 by the break while the Topix index of all first-section issues fell 1.26 per cent, or 20.59 points, to 1,614.73. In currency markets, the dollar dropped as low as 109.74 yen, its lowest in about two months, from 110.39 yen in New York and the upper half of the 110-yen range in Tokyo earlier Tuesday. A rise in the yen, which often draws safe-haven buying in times of uncertainty, is a negative for Japanese exporters as it reduces their repatriated profits. Toyota shares tumbled 1.83 per cent to 6,220 yen and Nintendo was off 1.54 per cent to end the morning at 37,600 yen. Major bank Mitsubishi UFJ fell 1.35 per cent at 701 yen. Struggling conglomerate Toshiba rose 4.27 per cent to sit at 293 yen on expectations that it will meet a deadline to submit long-delayed earnings to financial regulators, easing fears the embattled stock will be delisted from Japan's premier exchange.

Tokyo stocks fall as US-North Korea tensions rise

Toshiba shares jumped on Wednesday with expectations that it will meet a deadline to submit long-delayed earnings to financial regulators, easing fears the troubled conglomerate&#39;s stock will be yanked from the Tokyo Stock Exchange.

The stock soared more than nine per cent in early trading, before settling back at 293 yen at the lunch break, up 4.27 per cent.&nbsp;

There were growing worries that Toshiba, one of Japan&#39;s best-known firms, may not make Thursday&#39;s deadline to supply financial statements for the fiscal year ended in March as it was at odds with its auditor over multi-billion dollar losses at its US nuclear unit Westinghouse Electric.

But on Wednesday, Japan&#39;s leading Nikkei business daily and other local media reported auditor PricewaterhouseCoopers Aarata plans to grant a qualified approval of Toshiba&#39;s earnings report.

In a statement, Toshiba said it had not yet received an official sign off from the auditor but it still planned to submit its financial statements to Japanese financial regulators on Thursday.

The prospect of Toshiba meeting the deadline &quot;brought a sense of relief&quot; for investors, said Mari Iwashita, chief market economist at SMBC Friend Securities.

&quot;But it is doubtful whether this rise will last long... This is one step forward but there are many more steps ahead,&quot; she told AFP.

The massive losses at Westinghouse -- largely owing to delays and cost overruns -- have raised doubts about the future of Toshiba, which is still recovering from a 2015 accounting scandal.

It is trying to sell its prized memory chip business to a consortium of US, Japanese and South Korean investors to raise money for its turnaround.

But the planned sale has faced major hurdles as Toshiba&#39;s partner in a chip factory opposed the sale in court.

In order to stay listed on Japan&#39;s premier exchange, Toshiba needs to reverse the current situation in which liabilities exceed assets by the end of the current business year to March 2018.&nbsp;

Earlier this month, the shares were demoted from the prestigious first section of the Tokyo Stock Exchange over inadequate internal controls.

The stock soared more than nine per cent in early trading, before settling back at 293 yen at the lunch break, up 4.27 per cent

Toshiba shares jumped on Wednesday with expectations that it will meet a deadline to submit long-delayed earnings to financial regulators, easing fears the troubled conglomerate's stock will be yanked from the Tokyo Stock Exchange. The stock soared more than nine per cent in early trading, before settling back at 293 yen at the lunch break, up 4.27 per cent. There were growing worries that Toshiba, one of Japan's best-known firms, may not make Thursday's deadline to supply financial statements for the fiscal year ended in March as it was at odds with its auditor over multi-billion dollar losses at its US nuclear unit Westinghouse Electric. But on Wednesday, Japan's leading Nikkei business daily and other local media reported auditor PricewaterhouseCoopers Aarata plans to grant a qualified approval of Toshiba's earnings report. In a statement, Toshiba said it had not yet received an official sign off from the auditor but it still planned to submit its financial statements to Japanese financial regulators on Thursday. The prospect of Toshiba meeting the deadline "brought a sense of relief" for investors, said Mari Iwashita, chief market economist at SMBC Friend Securities. "But it is doubtful whether this rise will last long... This is one step forward but there are many more steps ahead," she told AFP. The massive losses at Westinghouse -- largely owing to delays and cost overruns -- have raised doubts about the future of Toshiba, which is still recovering from a 2015 accounting scandal. It is trying to sell its prized memory chip business to a consortium of US, Japanese and South Korean investors to raise money for its turnaround. But the planned sale has faced major hurdles as Toshiba's partner in a chip factory opposed the sale in court. In order to stay listed on Japan's premier exchange, Toshiba needs to reverse the current situation in which liabilities exceed assets by the end of the current business year to March 2018. Earlier this month, the shares were demoted from the prestigious first section of the Tokyo Stock Exchange over inadequate internal controls.

Toshiba shares jump as delisting fears ease

&nbsp;Indian shares ended lower on Wednesday, their third straight session of falls, dragged down by healthcare and financial stocks amid mounting tensions between the United States and North Korea.

The benchmark BSE&nbsp;Sensex&nbsp;closed down 0.68 per cent at 31,797.84, its lowest close in over three weeks.

The broader NSE Nifty ended 0.71 per cent lower at 9,908.05, its lowest close since July 21.

Sensex third straight session of falls dragged down by healthcare and financial stocks amid mounting tensions between the United States and North Korea

Indian shares ended lower on Wednesday, their third straight session of falls, dragged down by healthcare and financial stocks amid mounting tensions between the United States and North Korea. The benchmark BSE Sensex closed down 0.68 per cent at 31,797.84, its lowest close in over three weeks. The broader NSE Nifty ended 0.71 per cent lower at 9,908.05, its lowest close since July 21.

Sensex falls on global cues, pharma stocks slump

Shares of Tata Steel rose by over<a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706"> 4 per cent </a><a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706">today,</a><a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706"> after the company returned to profit</a> in the quarter ended June 30, 2017. 
 
After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95--its 52-week high--on BSE. 
 
At NSE, shares of the company gained 4.24 per cent to hit its one year high of Rs 625.50. 
 
Yesterday, Tata Steel posted a consolidated net profit of Rs 921.09 crore for the quarter ended June on the back of higher revenue from operations. 
 
The company had posted a consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. 
 
&quot;Our sales were up by 28 per cent on a y-o-y basis as the smooth ramp up of our Kalinganagar facility helped us increase our volumes and increase our market share,&quot; T V Narendran, Managing Director, Tata Steel India and South East Asia said in a statement. 
 
The consolidated revenue from operations during April- June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.

After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95

Shares of Tata Steel rose by over 4 per cent today, after the company returned to profit in the quarter ended June 30, 2017. After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95--its 52-week high--on BSE. At NSE, shares of the company gained 4.24 per cent to hit its one year high of Rs 625.50. Yesterday, Tata Steel posted a consolidated net profit of Rs 921.09 crore for the quarter ended June on the back of higher revenue from operations. The company had posted a consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. "Our sales were up by 28 per cent on a y-o-y basis as the smooth ramp up of our Kalinganagar facility helped us increase our volumes and increase our market share," T V Narendran, Managing Director, Tata Steel India and South East Asia said in a statement. The consolidated revenue from operations during April- June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.

Tata Steel shares zoom after first quarter results

American automaker company Tesla Inc declared on Monday that it would raise $1.5 billion through its first-ever offering of junk bonds. The luxury electric car maker is seeking fresh resources to ramp up manufacturing of its <a href="http://www.wionews.com/science-tech/musk-hands-over-first-tesla-model-3-electric-cars-to-early-buyers-18373">new Model 3 sedan</a>.&nbsp;<a href="http://www.wionews.com/science-tech/tesla-3-musks-addition-to-his-eco-friendly-cars-18362">The highly anticipated Model 3 was launched with a lucky-draw competition on July 28.</a>

Junk bonds are lower-quality investments that offer higher yields. The strategy by Tesla Chief Executive Elon Musk represents that bond investors will be as keen as stock investors to back the company, expecting that Model 3 will be a hit.

&quot;Bond investors, who typically don&#39;t love companies that don&#39;t make money, will be far more forgiving when it comes to Tesla,&quot; said bond expert Robbie Goffin, managing director of FTI Consulting, citing the company&#39;s stellar stock market value.

Tesla was to start pitching potential investors on Monday, IFR reported, citing lead bankers on the deal.&nbsp;Tesla is counting on the Model 3, its least pricey car, to become a profitable, high-volume manufacturer of electric cars.

Tesla&#39;s market shares are up by a whopping 67 per cent this year, pushing the company&#39;s value to around $60 billion, above that of top U.S. automakers General Motors Co and Ford Motor Co. However, shares of Tesla closed down 0.5 per cent at $355.17 on Monday.&nbsp;Tesla is yet to make an annual profit.&nbsp;

So far, Tesla has been raising money to pay its bills with a combination of equity offerings and convertible bonds, which eventually convert into shares. In March, the company raised $1.4 billion through a convertible debt offering.

Following the announcement, Standard &amp; Poor&#39;s reaffirmed its negative outlook for the automaker and assigned a &quot;B-&quot; rating for the bond issue - deep into junk credit territory. S&amp;P also maintained its &quot;B-&quot; long-term corporate credit rating on Tesla.

&quot;We could lower our ratings on Tesla if execution issues related to the Model 3 launch later this year or the ongoing expansion of its Models S and X production lead to significant cost overruns,&quot; S&amp;P said in a statement on the bonds.

Moody&#39;s assigned a junk &quot;B3&quot; rating to the bond issue and said the company&#39;s rating outlook was stable.

The rating agency said the overall company&#39;s &quot;B2&quot; rating was justified by the fact that if Tesla ends up in severe financial turmoil, its brand name, products, and physical assets would be of &quot;considerable value&quot; to other automakers.&nbsp;<a href="http://www.wionews.com/business-economy/over-60000-orders-of-tesla-model-3-cancelled-18552">During the quarterly earnings call of the company, Musk revealed that about 63,000 people have </a><a href="http://www.wionews.com/business-economy/over-60000-orders-of-tesla-model-3-cancelled-18552">cancelled</a><a href="http://www.wionews.com/business-economy/over-60000-orders-of-tesla-model-3-cancelled-18552"> their Model 3 pre-orders</a>.

Tesla&#39;s debt load increased significantly in 2016 when it took over solar panel maker SolarCity.

CFRA equity analyst Efraim Levy said the bonds will provide Tesla with funds to survive till &quot;at least into mid-2018.&quot;

&quot;There is a risk they could still run out of money,&quot; he said. &quot;Then you&rsquo;d go back to the equity markets and hope it&rsquo;s not too late&quot; to raise more money.

The latest effective yield on single-B rated bonds, maturing in seven to eight years--the class for a Tesla issue, is around 5.5 per cent, according to Bank of America/Merrill Lynch Fixed Income Index data.

The price of the bond will be determined later in this week after several days of brainstorming sessions with credit investors. They will keep ion account factors including the absence of a borrowing history, its lack of profit and its high cash-burn rate against its growth potential and its attractiveness as an environmentally friendly &ldquo;green&rdquo; issuer.

Ultimately, the depth of investor interest will determine the bond&#39;s interest rate.

Tesla said last week that it had 455,000 net pre-orders for the Model 3, which has a $35,000 base price, and that the sedan was averaging 1,800 reservations per day since its launch in the late last month.

At the launch, Musk, however, warned that Tesla would face months of &quot;manufacturing hell&quot; as it increases production of the sedan.

Tesla had over $3 billion in cash on hand at the end of the June quarter, compared with $4 billion on March 31.

The company expects capital expenditures of $2 billion in the second half of this year to boost production at its Fremont, California assembly plant and a battery plant in Reno, Nevada.

Tesla&#39;s cash burning strategy has prompted short-sellers like Greenlight Capital&#39;s David Einhorn to bet against Californian competitor Palo Alto.

Goldman Sachs, Morgan Stanley, Barclays, Bank of America Merrill Lynch, Citigroup, Deutsche Bank and RBC are the book-runners on the bond offering, IFR reported.

Tesla is counting on the Model 3, its least pricey car, to become a profitable, high-volume manufacturer of electric cars

American automaker company Tesla Inc declared on Monday that it would raise $1.5 billion through its first-ever offering of junk bonds. The luxury electric car maker is seeking fresh resources to ramp up manufacturing of its new Model 3 sedan. The highly anticipated Model 3 was launched with a lucky-draw competition on July 28. Junk bonds are lower-quality investments that offer higher yields. The strategy by Tesla Chief Executive Elon Musk represents that bond investors will be as keen as stock investors to back the company, expecting that Model 3 will be a hit. "Bond investors, who typically don't love companies that don't make money, will be far more forgiving when it comes to Tesla," said bond expert Robbie Goffin, managing director of FTI Consulting, citing the company's stellar stock market value. Tesla was to start pitching potential investors on Monday, IFR reported, citing lead bankers on the deal. Tesla is counting on the Model 3, its least pricey car, to become a profitable, high-volume manufacturer of electric cars. Tesla's market shares are up by a whopping 67 per cent this year, pushing the company's value to around $60 billion, above that of top U.S. automakers General Motors Co and Ford Motor Co. However, shares of Tesla closed down 0.5 per cent at $355.17 on Monday. Tesla is yet to make an annual profit. So far, Tesla has been raising money to pay its bills with a combination of equity offerings and convertible bonds, which eventually convert into shares. In March, the company raised $1.4 billion through a convertible debt offering. Following the announcement, Standard & Poor's reaffirmed its negative outlook for the automaker and assigned a "B-" rating for the bond issue - deep into junk credit territory. S&P also maintained its "B-" long-term corporate credit rating on Tesla. "We could lower our ratings on Tesla if execution issues related to the Model 3 launch later this year or the ongoing expansion of its Models S and X production lead to significant cost overruns," S&P said in a statement on the bonds. Moody's assigned a junk "B3" rating to the bond issue and said the company's rating outlook was stable. The rating agency said the overall company's "B2" rating was justified by the fact that if Tesla ends up in severe financial turmoil, its brand name, products, and physical assets would be of "considerable value" to other automakers. During the quarterly earnings call of the company, Musk revealed that about 63,000 people have cancelled their Model 3 pre-orders. Tesla's debt load increased significantly in 2016 when it took over solar panel maker SolarCity. CFRA equity analyst Efraim Levy said the bonds will provide Tesla with funds to survive till "at least into mid-2018." "There is a risk they could still run out of money," he said. "Then you’d go back to the equity markets and hope it’s not too late" to raise more money. The latest effective yield on single-B rated bonds, maturing in seven to eight years--the class for a Tesla issue, is around 5.5 per cent, according to Bank of America/Merrill Lynch Fixed Income Index data. The price of the bond will be determined later in this week after several days of brainstorming sessions with credit investors. They will keep ion account factors including the absence of a borrowing history, its lack of profit and its high cash-burn rate against its growth potential and its attractiveness as an environmentally friendly “green” issuer. Ultimately, the depth of investor interest will determine the bond's interest rate. Tesla said last week that it had 455,000 net pre-orders for the Model 3, which has a $35,000 base price, and that the sedan was averaging 1,800 reservations per day since its launch in the late last month. At the launch, Musk, however, warned that Tesla would face months of "manufacturing hell" as it increases production of the sedan. Tesla had over $3 billion in cash on hand at the end of the June quarter, compared with $4 billion on March 31. The company expects capital expenditures of $2 billion in the second half of this year to boost production at its Fremont, California assembly plant and a battery plant in Reno, Nevada. Tesla's cash burning strategy has prompted short-sellers like Greenlight Capital's David Einhorn to bet against Californian competitor Palo Alto. Goldman Sachs, Morgan Stanley, Barclays, Bank of America Merrill Lynch, Citigroup, Deutsche Bank and RBC are the book-runners on the bond offering, IFR reported.

Tesla's Model 3 production strategy: Junk bonds on offer

Oil&nbsp;prices slipped in Asian trading on Tuesday following a recovery in output at Libya&#39;s largest&nbsp;oil&nbsp;field and as doubts about OPEC-led production cuts continue to drag.

Global benchmark Brent crude futures were down 11 cents, or 0.2 per cent, at $52.26 a barrel at 0629 GMT, after dipping 0.1 per cent in the previous session.

US crude futures were down 7 cents, or 0.1 per cent, at $49.32 a barrel, having fallen 0.4 per cent on Monday.

Production from Libya&#39;s 270,000 barrels-per-day (bpd) Sharara field was returning to normal after a brief disruption when armed protesters broke into a control room in the coastal city of Zawiya, the National&nbsp;Oil&nbsp;Corporation (NOC) said on Monday.

Libya was exempted from a push to cut global production and bolster&nbsp;oil&nbsp;prices led by the Organisation of the Petroleum Exporting Countries (OPEC) and other big producers like Russia.

The recovery of the North African country&#39;s output has complicated OPEC&#39;s efforts to curb supply, fuelling doubts over the effectiveness of the production cuts. Libya churned out 1.03 million bpd in July, according to the latest Reuters survey.

OPEC output hit a 2017-high in July and its exports marked a record.

Still, Saudi Arabia, the world&#39;s biggest&nbsp;oil&nbsp;exporter, plans to cut supplies to most buyers in Asia by as much as 10 per cent in September, sources told Reuters on Tuesday. Asian buyers have been mostly shielded from the cuts until now.

Officials from a joint OPEC and non-OPEC technical committee are meeting in Abu Dhabi on Monday and Tuesday to discuss ways to boost compliance with the deal to cut 1.8 million barrels per day in production.

&quot;Assuming that nothing comes from OPEC/non-OPEC&#39;s technical meeting in Abu Dhabi today, oil&#39;s near term fate will most likely be determined by the official US &nbsp;Department of Energy inventory data tomorrow evening Asia time,&quot; said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

The US Energy Information Administration, part of the Energy Department, will release its weekly petroleum status report at 1430 GMT on Wednesday, giving details on stockpiles and refinery runs.

US crude inventories were expected to post their sixth straight weekly decline last week, while refined product stockpiles likely fell too, a preliminary Reuters poll showed on Monday.

Later on Tuesday the American Petroleum Institute, will release its own report on stockpiles and refinery throughput.

Oil&nbsp;output in the United States has remained high, although Baker Hughes data on Friday showed a cut of one drilling rig in the week to Aug. 4.

Elsewhere, crude&nbsp;oil&nbsp;imports to China for the January to July period rose 13.6 per cent from the year ago period to 247 million tonnes, customs data showed on Tuesday.

Production from Libya's 270,000 barrels-per-day (bpd) Sharara field was returning to normal after a brief disruption when armed protesters broke into a control room in the coastal city of Zawiya

Oil prices slipped in Asian trading on Tuesday following a recovery in output at Libya's largest oil field and as doubts about OPEC-led production cuts continue to drag. Global benchmark Brent crude futures were down 11 cents, or 0.2 per cent, at $52.26 a barrel at 0629 GMT, after dipping 0.1 per cent in the previous session. US crude futures were down 7 cents, or 0.1 per cent, at $49.32 a barrel, having fallen 0.4 per cent on Monday. Production from Libya's 270,000 barrels-per-day (bpd) Sharara field was returning to normal after a brief disruption when armed protesters broke into a control room in the coastal city of Zawiya, the National Oil Corporation (NOC) said on Monday. Libya was exempted from a push to cut global production and bolster oil prices led by the Organisation of the Petroleum Exporting Countries (OPEC) and other big producers like Russia. The recovery of the North African country's output has complicated OPEC's efforts to curb supply, fuelling doubts over the effectiveness of the production cuts. Libya churned out 1.03 million bpd in July, according to the latest Reuters survey. OPEC output hit a 2017-high in July and its exports marked a record. Still, Saudi Arabia, the world's biggest oil exporter, plans to cut supplies to most buyers in Asia by as much as 10 per cent in September, sources told Reuters on Tuesday. Asian buyers have been mostly shielded from the cuts until now. Officials from a joint OPEC and non-OPEC technical committee are meeting in Abu Dhabi on Monday and Tuesday to discuss ways to boost compliance with the deal to cut 1.8 million barrels per day in production. "Assuming that nothing comes from OPEC/non-OPEC's technical meeting in Abu Dhabi today, oil's near term fate will most likely be determined by the official US Department of Energy inventory data tomorrow evening Asia time," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. The US Energy Information Administration, part of the Energy Department, will release its weekly petroleum status report at 1430 GMT on Wednesday, giving details on stockpiles and refinery runs. US crude inventories were expected to post their sixth straight weekly decline last week, while refined product stockpiles likely fell too, a preliminary Reuters poll showed on Monday. Later on Tuesday the American Petroleum Institute, will release its own report on stockpiles and refinery throughput. Oil output in the United States has remained high, although Baker Hughes data on Friday showed a cut of one drilling rig in the week to Aug. 4. Elsewhere, crude oil imports to China for the January to July period rose 13.6 per cent from the year ago period to 247 million tonnes, customs data showed on Tuesday.

Oil prices slip over Libyan production, OPEC cuts