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Asian markets track Wall St higher as Hong Kong extends rally
Asian markets track Wall St higher as Hong Kong extends rally
Economy
by  AFP

Hong Kong and Shanghai stocks extended their rally Wednesday on hopes for more Chinese measures in support of battered markets, while traders elsewhere in Asia tracked Wall Street advances fuelled by strong earnings. "Sentiment improved after (Tuesday's) ripping rally in Chinese and Hong Kong stocks," said Kyle Rodda of Capital.

Networks unite to create new sports streaming platform
Networks unite to create new sports streaming platform
Economy
by  AFP

ESPN, Fox and Warner Bros Discovery have reached agreement on a new streaming platform for live sports content, the companies said on Tuesday. The new platform would provide access to ESPN's existing streaming platform ESPN+ as well as the main channels from ESPN, Fox and Warner Bros.

Ford beats earnings expectations despite rising labor cost
Ford beats earnings expectations despite rising labor cost
Economy
by  AFP

US automaker Ford topped earnings expectations in the fourth quarter of 2023 and is forecasting higher profits this year despite greater labor costs and losses in its electric vehicle segment, according to a financial report released Tuesday. The company expects "higher expenses for labor and major product-refresh actions" this year.

Probe suggests blown-out Boeing jet panel had missing bolts
Probe suggests blown-out Boeing jet panel had missing bolts
Economy
by  AFP

Four of the bolts securing the panel of a Boeing 737 MAX 9 Alaska Airlines jet that blew off mid-flight last month were missing, according to a preliminary investigation published Tuesday. On 5 January, the panel flew off mid-flight after the Alaska Airlines MAX 9 took off from Portland, Oregon bound for Ontario in California.

Yellen says US commercial property concerns 'manageable'
Yellen says US commercial property concerns 'manageable'
Economy
by  AFP

US Treasury Secretary Janet Yellen expressed concern Tuesday about the commercial real estate sector in the current environment of higher interest rates -- but added that the overall situation should be "manageable." As commercial real estate loans come due, they will need to be "refinanced in a context where vacancy rates in some cities are quite high," Yellen said in testimony.