介绍:
CCB reports Q1 profit rise
China Construction Bank is reporting a 10.4-percent rise in its first-quarter net profits.
An 11 percent rise to income from interest and fees has helped Construction Bank's net profits rise to 66 billion yuan from 60 billion through the first quarter.
The bank's non-performing loan ratio has increased to just above 1-percent through the first quarter.
This is up from 0.99 percent from the final quarter of last year.
Agricultural Bank's Q1 net profit up 13.6% on strong interest margins
Agricultural Bank of China is reporting its first-quarter net profits are up more than 13 percent.
Net profits for the quarter surpassed 53 billion yuan, up from the 47 billion registered a year ago.
Agricultural Bank's net interest income has come in at 103-billion yuan, up 15 and half percent over the same period last year.
Agricultural Bank is the second of China's "big-4" state run banks to report its first-quarter earnings.
Bank of China, the first to report, beat market expectations with a nearly 14-percent rise in first-quarter profits.
Retail Sales of Consumer Goods Rise 10.9 Percent
Retail sales here in China have risen nearly 11-percent quarter on quarter through the first three months, reaching 6.2 trillion yuan.
This is slightly percent higher than the same period last year.
Online retail, culture and tourism sales are said to be the key drivers behind the increase.
Alibaba, UCWeb plan mobile-search joint venture
China's e-commerce titan Alibaba is teaming up with mobile browser firm UCWeb to introduce a new mobile search service in the country.
UCWeb will maintain a controlling stake in the joint venture, which will be called Shenma, or "What?"
The new company is hoping to poach talent from Baidu and Google.
Financial terms of the agreement have not been released.
China replacing coal with shale gas
Anchor:
Shenhua Energy, China's largest coal producer, has seen its first-quarter net profits come in down just under 10-percent compared with a year earlier.
Shenhua is citing falling coal prices as the main reason.
The company still earned over 10-billion yuan in the first three months. That's more than one and half billion US dollars.
The coal producer is also warning of a weak second quarter.
At the same time, the central authorities have put out a new target of 6.5 billion cubic meters of shale gas extraction by 2015.
For more on this, CRI's Shane Bigham spoke earlier with Mike Bastin, Visiting Professor at China's University of Economics and Business.
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Back Anchor:
Mike Bastin, Visiting Professor at China's University of Economics and Business, speaking with CRI's Shane Bigham.
Australia's Goodman Fielder snubs $1.2bn takeover offer
Australian food producer Goodman Fielder has turned down a 1.2-billion US dollar takeover bid from Singapore's Wilmar and Hong Kong's First Pacific.
The firms were offering 65 Australian cents a share.
Goodman Fielder says it believes the bid "materially" undervalued the firm and was "opportunistic".
Goodman Fielder owns some of Australia's most recognizable food brands.
The company manufactures and distributes staples including bread, milk, salad dressings, cooking oils and flour in Australia, New Zealand and the Pacific Islands.
The company's shares soared 18-percent in trading on the ASX 200.
Goodman's shares on the New Zealand stock exchange rocketed 23-percent.
Singapore's Wilmar International already owns 10-percent of Goodman Fielder.
Japan retail sales surge on tax hike
Retail sales in Japan have grown at their fastest pace in 17 years through March.
Retail sales jumped 11-percent through March ahead of the sales tax increase from 5 to 8-percent.
The tax increase comes as the Japanese government tries to rein in its debt.
Japan's debt, which stands at around 230-percent of GDP, is the highest in the industrialized world.
The increases in the sales tax is also meant to try to help stifle years of deflation.
The latest data shows consumer prices in Tokyo have risen 2.7-percent in April from a year earlier.
This is the fastest pace of growth in some 22-years.
Bayer's first-quarter profit jumps more than 20%
German pharmaceutical firm Bayer has announced a 23-percent rise in its first-quarter profits.
Bayer's net profits have jumped to just-under 2-billion US dollars in the three months.
The company has seen its combined drug sales hit 830-million US dollars through Q1.
This represents a rise of just under 3-percent.
Bayer expects its full-year sales to increase by around 5-percent.
Bankia's first-quarter profit more than doubles
Spain's largest bank, Bankia, is reporting its first-quarter net profits have more than doubled from a year earlier.
Bankia's net profits have on in at nearly 260-million US dollars in the three months.
This is up from around 100-million dollars recorded one year ago.
Net interest income is up 36-percent.
Bankia's bad-loan ratio has dipped slightly to 14.3-percent.
Spain's government has injected 31-billion dollars into Bankia to keep it afloat.
Siemens bids $14 bln for Alstom energy units
Germany's Siemens is putting forward a swap agreement with French rival Alstom.
Siemens proposed deal would see an asset swap to acquire Astom's thermal, renewable and electric-grid divisions.
Siemens has valued the businesses at around 15-billion US dollars.
The move comes as the French government tries to slam the brakes on GE's proposed purchase of Alstom's energy businesses.
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