AFP
13876 articles published since 08 Mar 2022
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Stocks waver after hitting record highs
Stock markets wavered Thursday following record-breaking rallies that were fuelled by cooling US inflation, though Wall Street pushed ahead with the Dow topping the 40,000-point mark mid session for the first time.
Walmart profits rise on strong sales from wealthier shoppers
Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. The improved sales to wealthier shoppers reflect a focus on affordable pricing and convenience, as well as a greater attention to products such as fresh food, company executives said on a conference call.
China's Baidu posts weakest quarterly revenue growth in over a year
Chinese internet giant Baidu announced Thursday its slowest quarterly revenue growth in over a year, as competition between top players in the country's cutting-edge tech sector intensifies. The figure represents a year-on-year increase of one percent -- the slowest quarterly revenue growth recorded by Baidu since the final quarter of 2022.
EU probes Facebook, Instagram over child protection
The EU on Thursday opened a formal investigation into Facebook and Instagram on suspicion the platforms owned by Meta are causing addictive behaviour in children. The EU stressed in a statement that the "opening of formal proceedings does not prejudge its outcome".
Easyjet CEO flies out in 2025 after seven years
Easyjet said Thursday that chief executive Johan Lundgren would step down at the start of 2025 after seven years piloting the no-frills airline, notably through Covid turbulence.
Siemens to sell electrical motors business to KPS
German industrial giant Siemens said Thursday it will sell its electrical motors business Innomotics to private US equity firm KPS Capital Partners for 3.5 billion euros ($3.8 billion).
Consumer groups accuse Temu of manipulating online shoppers
European consumer groups on Thursday accused Chinese shopping app Temu of using "manipulative techniques" to force users to spend more and other violations of a landmark EU tech law. The groups accuse Temu of "failing to protect consumers and for using manipulative practices which are illegal", known as dark patterns, and demanded an investigation.
Monet painting fetches $35 million at New York auction
A Monet sold for nearly $35 million at auction Wednesday evening, Sotheby's said, marking a solid start to New York's spring art sales. Christie's, meanwhile, sold some $115 million in contemporary art the prior evening, including a Jean-Michel Basquiat painting for $32 million.
Asian markets track Wall St records after US inflation data
Asian equities rallied Thursday after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year. Tokyo also advanced, even after data showed Japan's economy shrank more than expected in the first three months of the year.
AFP
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