By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application advertised as a way to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app,…
By Linda Pasquini and Helen Reid (Reuters) -German sportswear brand Puma’s second-quarter sales grew by 11%, the company reported on Wednesday, slightly ahead of market expectations thanks to stronger revenues from Asia and Europe, while the U.S. dragged. The sportswear sector is struggling with weakening demand in North America and a slower than expected recovery…
By Josh Ye (Reuters) -TikTok plans to launch a program in August to help Chinese merchants sell goods globally, and will officially roll it out first to consumers in the United States, a person familiar with the matter said. Seeking to replicate the success shopping platforms like Shein and PDD Holdings’ Temu have had in…
By Rishav Chatterjee (Reuters) – Commonwealth Bank of Australia, the country’s biggest lender, could cut up to 200 jobs, a source familiar with the matter told Reuters on Wednesday, but did not divulge further information the layoffs. The layoffs could end up being a “couple of hundred” and the CBA’s ongoing consultations could mean some…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thai exports shrank for a ninth consecutive month in June, albeit at a smaller rate than expected, as global demand remains sluggish, but the commerce ministry said on Wednesday it still expects some growth for the full year. Customs-based exports, a key driver of Thailand’s economy,…
By Melanie Burton and Rishav Chatterjee MELBOURNE (Reuters) -Rio Tinto’s first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut. Iron ore accounts for 70% of Rio Tinto’s profit and prices…
By Sinead Cruise and Iain Withers LONDON (Reuters) – NatWest’s departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the state-backed lender through the COVID-19 pandemic and market fallout from war in Europe and chaos in Westminster. But ultimately it was committing the cardinal sin…
By Rich McKay (Reuters) – The man who sold a fatal fentanyl-laced bag of heroin to actor Michael K. Williams, who played the shotgun-toting drug dealer Omar Little in the HBO crime drama “The Wire,” was sentenced on Tuesday to 30 months in prison, according to court records. Carlos Macci, 72, was part of a…
(Reuters) – Australia’s Pacific Current Group received a non-binding buyout proposal from Regal Partners Ltd, which values the asset manager at A$573.5 million ($388.1 million), the companies said on Wednesday. Under the proposal, Pacific Current shareholders will get A$7.50 in cash per share and 2.2 shares of GQG Partners, which Regal manages, taking the total…
By Victoria Waldersee BERLIN (Reuters) -Porsche AG warned on Wednesday that supply chain problems were hampering battery-electric vehicle (BEV) production and pointed to slower growth in Europe and China, but kept its BEV sales target on the basis that luxury demand was more resilient to downturns. The carmaker is facing “major challenges” in securing special…
