GLOBAL MARKETS: Samsung has a profitable quarter
Samsung Electronics tips a surprise record first-quarter profit
A profitable quarter
Samsung Electronics tipped a surprise record first-quarter profit on Friday, but market reaction was muted due to growing concerns that the semiconductor boom driving the South Korean tech giant’s earnings is about to end. Samsung shares fell after the announcement as analysts forecast similar or lower profit in the second quarter, due to slower growth in DRAM chip prices and higher marketing costs for the company’s flagship Galaxy S9 smartphone.
Hitting the right note
Switzerland’s 10-franc bill was named best bank note of 2017, edging out money from Scotland, Canada, Fiji, Norway and Djibouti to give the Swiss National Bank its second consecutive win. The bank’s new series, first issued in 2016, features motifs from industry and nature rather than portraits of famous individuals. The winning bill, depicting watch movements and a railway tunnel, debuted last October. Of the more than 170 new bank notes released worldwide last year, almost a third were considered in the contest, says the International Bank Note Society, whose objective is to advance the study of paper money.