BANGKOK (AP) — Share prices were mixed in Asia on Friday after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home. Tokyo’s Nikkei 225 index added 0.6% to 26,797.47. The Kospi in Seoul was up 0.1% at 2,324.29 and shares also rose in…
By Supantha Mukherjee STOCKHOLM (Reuters) – Ericsson, the Swedish telecoms equipment firm which is facing bribery investigations, reported a rise in second-quarter core earnings on Thursday but missed expectations as margins were hit by increased component and logistics costs. Rising inflation, a chip shortage and Russia’s invasion of Ukraine drove up costs and pushed down…
HELSINKI (Reuters) – Elevator maker Kone on Thursday lowered its sales and profit outlook for this year due to among other things weak second-quarter sales in China, which were hit by COVID-19 lockdowns. ($1 = 0.9980 euros) (Reporting by Essi Lehto, editing by Stine Jacobsen)
(Reuters) – Venture capital dealmaking in the United States dipped in the first half of 2022, as investors shied away from signing large checks for startups due to uncertain macroeconomic conditions and market turmoil, according to a report on Thursday. The value of deals struck in the first half of 2022 dropped to $144.2 billion,…
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday. Taiwan media has reported that Foxconn’s China-listed unit Foxconn Industrial Internet Co Ltd plans to spend 9.8 billion yuan ($1.46…
By Heekyong Yang SEOUL (Reuters) – Hyundai Motor Co on Thursday launched its first electric sedan, Ioniq 6, which the South Korean automaker is betting will help it grab a bigger share of the electric vehicle (EV) market dominated by Tesla Inc. The Ioniq 6 is one of more than 31 electric models that Hyundai…
(Reuters) -Crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim of a dramatic plunge in prices that has shaken the cryptocurrency sector. The U.S. company said it has $167 million in cash on hand, which will provide liquidity to support certain operations during the restructuring process. Celsius is…
By Hyunjoo Jin SAN FRANCISCO (Reuters) -Andrej Karpathy, a high-profile Tesla executive who played a key role in developing the electric car maker’s artificial intelligence and automated driving technology, said on Wednesday he is leaving the company. The departure of Karpathy, who provided no reason for leaving, comes at a critical time as Chief Executive…
SAN FRANCISCO (Reuters) -Andrej Karpathy, senior director of artificial intelligence at Tesla Inc who has been on a four-month sabbatical, said on Wednesday he is leaving the company, without giving reasons for his departure. “It’s been a great pleasure to help Tesla towards its goals over the last 5 years and a difficult decision to…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed modestly lower on Wednesday after investors digested hotter-than-expected U.S. inflation data, which fueled fears that the Federal Reserve could raise key interest rates by as much as 100 basis points later this month. While all three major U.S. equity indexes bounced off lows reached early…
