BEIJING (AP) — China’s imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home. Exports sank 9% from a year ago to $296.1 billion, worsening from October’s 0.9% decline, customs data showed Wednesday. Imports fell 10.9% to $226.2 billion, down from the previous month’s 0.7% retreat in a…
By Byron Kaye SYDNEY (Reuters) -An Australian court fined Uber Technologies Inc A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides. The penalty was less than a regulator wanted. The Australian arm of the U.S. ride-sharing app broke consumer law by misleading customers with…
By David Lawder and Timothy Gardner WASHINGTON (Reuters) – When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike. But keeping Russian oil on the market and…
TAIPEI (Reuters) – Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple its planned investment at its new Arizona plant to $40 billion. TSMC’s Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the…
(Reuters) – CMA CGM on Wednesday said it would buy Global Container Terminals Inc’s (GCT) two terminals in the Port of New York and New Jersey as it eyes further expansion in the United States. Bloomberg had first reported on Tuesday that CMA CGM was nearing a deal to acquire two GCT terminals in a…
By Foo Yun Chee and Chavi Mehta BRUSSELS/BANGALORE (Reuters) -Meta will only be able to run advertising based on personal data with users’ consent, according to a confidential EU privacy watchdog decision, a person familiar with the matter said on Tuesday, in a blow to the U.S. social network. The Irish data protection agency, which…
NEW YORK (Reuters) – BlackRock Inc Chief Financial Officer Gary Shedlin said on Tuesday the firm is tightening its belt in terms of hiring and general expenses. Shedlin said other than critical hires, the company has frozen hiring. “We’re trying to be a little more prudent,” he said during a financial conference hosted by Goldman…
STOCKHOLM (Reuters) – Swedbank said on Tuesday it would grow average annual income by 3 percentage points more than costs as it looked to boost returns on equity by 2025, driven by a normalised interest rate environment and rising lending volumes and commissions. The Swedish bank also said it expected to have generated around 300…
By Brendan Pierson (Reuters) – Drugmakers GSK Plc, Pfizer Inc, Sanofi SA and Boehringer Ingelheim on Tuesday defeated thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. The ruling by U.S. District Judge Robin Rosenberg in West Palm Beach, Florida,…
Facebook parent Meta Platforms Inc. said Tuesday it will be “forced to consider” removing news content from its platform if Congress passes legislation requiring tech companies to pay news outlets for their material. The Journalism Competition and Preservation Act, if passed, would allow news companies to collectively negotiate with social platforms over the terms on…
