Business News from WN Network

Stock market today: Asian shares mixed after calm day on Wall St 2024-05-08
Wtop

TOKYO (AP) — Asian shares were mixed on Wednesday after U.S. stocks held relatively steady on Wall Street. U.S. futures and oil prices slipped, while the yen weakened further against the U.S. dollar. Tokyo’s Nikkei 225 lost 1.6% to 38,202.37. Nintendo Co.’s share price sank 5.4% after the...

photo: Creative Commons / Alex Proimos

Japan’s Toyota posts record profit as hybrid sales surge 31 percent 2024-05-08
Al Jazeera

Toyota has reported record profit and sales figures on the back of the weak yen and strong demand for hybrid vehicles. The Japanese car giant said on Wednesday that it netted a record profit of 4.94 trillion yen ($31.9bn) in the year to March on revenues of 45.1 trillion yen, double the previous...

photo: Creative Commons / Gennady Grachev

US cancels export licenses of suppliers to China’s Huawei 2024-05-08
Al Jazeera

The United States has revoked some licenses that allow companies to ship goods, such as chips, to sanctioned Chinese telecommunications equipment maker Huawei Technologies. Some companies were notified on Tuesday that their licenses were revoked effective immediately, according to one person...

photo: AP / Mark Schiefelbein

Escalated conflict in the Middle East could result in oil at $150 per barrel 2024-05-07
Khaleejtimes

Thus far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according to a new analysis by Bloomberg Intelligence (BI) and...

photo: AP / Marta Lavandier

Saudi Aramco maintains $31bn dividend despite lower earnings 2024-05-07
Business Day

Dubai — Saudi Arabian state-owned oil giant Aramco expects to pay $31bn in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold. The Saudi government, which directly holds about 82.2% of...

photo: AP / John Moore

Russia is planning to cripple Europe’s economy – and this is how 2024-05-07
Cryptopolitan

European security agencies are sounding the alarm over an escalating threat from Russia, which appears to be orchestrating a series of violent acts designed to wreak havoc across the continent. With a disturbing uptick in covert operations, including bombings, arson, and systematic infrastructure...

photo: © European Union 2024 - Source : EP / © European Union 2024 - Source : EP

Stock market today: Asian shares track Wall St’s advance fueled by cooler jobs data 2024-05-06
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Asian shares were mostly higher on Monday after Wall Street ended last week with the stock market’s best day in over two months in a rally backed by the cooler-than-expected U.S. employment data. U.S. futures edged higher and oil prices rose. The Japanese yen weakened slightly after its value...

photo: AP / Richard Drew

Hungary and Serbia’s autocratic leaders to roll out red carpet for China’s Xi during Europe tour 2024-05-06
Wtop

BUDAPEST, Hungary (AP) — Chinese leader Xi Jinping will spend the bulk of his five-day tour in Europe this week in two small countries at the continent’s eastern half, a region that Beijing has used as a foothold for its expanding economic ambitions in Europe. Following a stop in Paris on Monday to...

photo: AP / Darko Vojinovic

Qualcomm jumps as AI sparks rebound in Chinese smartphone market 2024-05-02
RTE

Qualcomm shares rose 4% in premarket trading today after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the first half of its fiscal year, the company said, as...

photo: Creative Commons / Tech.Co

OECD lifts global growth outlook as US, China outperform expectations 2024-05-02
Al Jazeera

The Organisation for Economic Co-operation and Development (OECD) has upgraded its outlook for the global economy on the back of stronger-than-expected growth in the United States and China. The global economy is forecast to grow 3.1 percent this year and 3.2 percent in 2025, the Paris-based...

photo: AP / Ng Han Guan