Tag Archives: billion

Asian shares mixed

HONG KONG: Asian shares were mixed on Thursday as fears about Europe’s debt crisis deepened after Germany, considered the pillar of the eurozone, failed to sell all its bonds in an auction.
While some markets managed to eke out small gains thanks to bargain-buying, the ongoing woes in Europe as well as the slowing global economy pushed investors to the sidelines.
Tokyo fell 1.38 percent by the break as it played catch-up with regional losses on Wednesday, when it was closed for a public holiday.

Hong Kong lost 0.44 percent and Shanghai gave up 0.68 percent. But Seoul rose 0.22 percent and Sydney was 0.41 percent higher.

A German government bond auction Wednesday drew some of the weakest demand since the introduction of the euro, signalling diminishing investor appetite even for the safest eurozone assets.

Berlin only managed to draw bids of 3.9 billion euros for its six billion euro 10-year bond auction, indicating that investors are now sceptical about even the safest assets in the eurozone.

The failure comes days after Moody’s warned that France’s weak growth and exposure to European debt could see it lose its cherished AAA debt rating, which would send its borrowing costs soaring. (AFP)

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Tablets, e-readers closing book on ink-and-paper era

SAN FRANCISCO: Tablet computers and electronic readers promise to close the book on the ink-and-paper era as they transform the way people browse magazines, check news or lose themselves in novels.

Online retail giant Amazon has made electronic readers mainstream with Kindle devices, and Apple ignited insatiable demand for tablets ideal for devouring online content ranging from films to magazines and books.

In 2011, digital books earned about $3.2 billion in revenue, an amount that the combined momentum of e-readers and tablets is expected to triple to $9.7 billion by the year 2016, according to a Juniper Research report.

Readers are showing increased loyalty to digital books, according to the US Book Industry Study Group (BISG).

Nearly half of print book buyers who also got digital works said they would skip getting an ink-and-paper release by a favorite author if an electronic version could be had within three months, a BISG survey showed.

“The e-book market is developing very fast, with consumer attitudes and behaviors changing over the course of months, rather than years,” said BISG deputy executive director Angela Bole.

Concerns about e-book reading are diminishing, with people mainly wishing for lower device prices, according to the survey.

Owning e-readers tended to ramp up the amount of money people spent on titles in what BISG described as a promising sign for publishers.