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Chinese internet giant Tencent posts lowest annual profit since 2019
Chinese internet giant Tencent posts lowest annual profit since 2019
Economy
by  AFP

Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China's economy and a more lenient attitude taken by regulators towards the tech sector. Authorities have since relaxed their approach to regulating the vital domestic tech sector as broader concerns about the health of China's economy mount.

UK inflation slows to lowest level in almost 2.5 years
UK inflation slows to lowest level in almost 2.5 years
Economy
by  AFP

Britain's annual inflation rate fell more than expected in February, official data showed Wednesday, fuelling speculation that the Bank of England will start cutting interest rates in the coming months. "The Bank of England has already said it's not going to cut interest rates in a hurry," Sarah Coles, head of personal finance at Hargreaves Lansdown, said following Wednesday's data.

Apple CEO in China ahead of Shanghai store opening
Apple CEO in China ahead of Shanghai store opening
Technology
by  AFP

Apple CEO Tim Cook was on a China charm offensive Wednesday ahead of a new flagship Shanghai store opening, weeks after a report suggested the company's sales in the country slumped at the start of 2024. A recent Counterpoint Research report said iPhone sales in China fell nearly a quarter year-on-year over the first six weeks of 2024.