Tencent Music Entertainment reported a slight decline in quarterly revenue on Tuesday, with a 1.7% drop to 7.16 billion yuan ($999 million) for the three months ending June 30. Although this marked the fourth consecutive quarterly decline, the company’s performance surpassed analysts’ expectations, which had forecasted revenue of 7.14 billion yuan, according to LSEG data.…
Huawei Technologies is gearing up to launch a new artificial intelligence (AI) chip, Ascend 910C, positioning itself as a competitor to Nvidia in China despite U.S. sanctions. According to a report by the Wall Street Journal, Huawei’s latest processor is being tested by major Chinese internet and telecom companies, with the tech giant claiming the…
James Kirsh, president of a family-owned foundry in Wisconsin, is bracing for a significant spike in property and casualty insurance costs for his business. As his current insurer, Acuity, withdraws from covering factories like his, which deal with molten metal, Kirsh faces the challenge of piecing together more expensive coverage from multiple providers. “It’s a…
During a Bitcoin conference recently, former U.S. President Donald Trump electrified the crowd by pledging to fire Securities and Exchange Commission (SEC) Chair Gary Gensler if re-elected. Gensler, a known skeptic of cryptocurrencies, has led the SEC’s aggressive enforcement actions against the industry, including major exchanges like Coinbase, Binance, and Kraken. Trump’s promise was met…
Shares of Amazon.com tumbled more than 12% on Friday after the company reported slower growth in online sales during the second quarter. The e-commerce giant also noted that consumers are increasingly opting for cheaper alternatives, reflecting a broader trend in value-conscious consumer behavior. This shift comes ahead of Walmart’s upcoming quarterly results, with Amazon CEO…
A global outage affecting Microsoft products including email service Outlook and video game Minecraft has been resolved, the technology giant said in an update. The firm said preliminary investigations show the outage was caused by a cyber-attack and a failure to properly defend against it. Earlier, the company issued an apology for the incident, which…
Chinese electric vehicle (EV) manufacturer BYD is preparing to enter the Canadian automotive market, according to recent regulatory filings. This expansion comes at a time when Canada is considering imposing tariffs on vehicles imported from China, following similar actions by the United States and the European Union. In June, Canada indicated that it might impose…
Toyota Motor is expected to report another quarter of double-digit growth, driven by strong demand for hybrids, when it announces its earnings on Thursday. However, signs of slowing growth are emerging after a streak of record profits. Analysts will closely examine how much momentum the world’s top-selling automaker has lost from previous quarters, amid challenges…
An upcoming meeting of the OPEC+ panel is anticipated to maintain the current production cut agreement and delay any new adjustments, despite a recent sharp drop in oil prices, according to multiple sources within the producer group. The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are scheduled to hold…
Spain’s anti-trust authority has imposed a substantial fine of €413.2 million ($448 million) on Booking.com for exploiting its dominant position in the market over the past five years. The National Commission on Markets and Competition (CNMC) announced on Tuesday that Booking.com, a subsidiary of the New York-listed Booking Holdings, would be penalized with two separate…
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