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Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
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Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Oil giant Royal Dutch Shell reported a near 50 percent rise in net profit for the third quarter.
Net profit attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, came in $4.1 billion, versus $2.7 billion in the same quarter a year ago. This compared to a company-provided analyst consensus of $3.6 billion. It also beat the Reuters estimate which was $3.569 billion.
Shell said the earnings reflected higher contributions from its downstream and upstream operations (which refer to both the refining division and exploration units) and its integrated gas unit.
Here are the key third-quarter metrics:
Royal Dutch Shell Chief Executive Officer Ben van Beurden said that "Shell's three businesses all made resilient contributions to this strong set of results."
He said the earnings were evidence of Shell's "growing momentum" which, he said, strengthens his "firm belief" that the company's strategy is working.
The latest earnings come amid an improving environment for oil companies that have had to weather the storm posed by low oil prices amid a glut in oil supply and lackluster demand over the last few years.
There are signs that oil markets are rebalancing, however, particularly as major oil exporters including OPEC and non-OPEC countries continue with an agreement to limit oil output.
The move has helped to stabilize oil prices, with Brent crude trading around $60 a barrel and west Texas Intermediate (WTI) around $54, and it has supported oil majors. Shell rival BP reported earnings above expectations earlier this week, doubling its third quarter underlying profit year-on-year.
Shell's share price was flat on Thursday morning.