By Josh Ye HONG KONG (Reuters) – China’s Tencent Holdings reported on Wednesday its first ever quarterly sales fall, hurt by a lack of game approvals and regulations that limit playing time, as well as COVID-19 lockdowns and a weak economy that squeezed ad sales. Tencent, the world’s largest video game company and the operator…
By Pratyush Thakur and Shivansh Tiwary (Reuters) -New vehicle sales in the United States for top global automakers rose in the second quarter on improving supply and strong demand, signaling that rising interest rates have not yet had a meaningful impact on purchases. Vehicle production took a hit after the pandemic disrupted supply of semiconductor…
By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. The company announced…
OTTAWA (Reuters) – Canada is disappointed the United States plans to maintain tariffs on Canadian softwood lumber imports, Ottawa said on Tuesday, arguing that a negotiated solution to the longstanding dispute was in the best interests of both countries. Canadian Trade Minister Mary Ng was responding to the U.S. Commerce Department’s preliminary decision to maintain…
HONG KONG (AP) — Hong Kong airline Cathay Pacific Airways said Wednesday that losses in the first half of the year narrowed as a relaxation in quarantine rules boosted passenger numbers. But it cautioned that quarantine restrictions on its crew were limiting the airline’s ability to increase flight capacity. The company reported losses of about…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Greg Becker, former CEO of failed lender Silicon Valley Bank, apologized in congressional testimony for its “devastating” collapse while citing rising interest rates and mounting withdrawal requests as key causes of its demise. The bank was responsive to regulator concerns about its risk management and working to…
SEOUL (Reuters) – South Korean house prices weakened for an 11th consecutive month in April – its longest streak of declines in 11 years – but the pace of falls continued to slow, data showed on Monday. The nationwide house price index fell 0.47% in April from the previous month, according to data from the…
By Pavel Polityuk KYIV (Reuters) – Ukraine would welcome receiving cluster munitions from the United States because they would have an “extraordinary psycho-emotional impact” on Russian forces, a senior Ukrainian official said on Friday. Three U.S officials speaking on condition of anonymity this week said a weapons aid package that includes cluster munitions fired by…
PRAGUE (AP) — The leaders of 44 European countries stretching from Iceland all the way to Turkey met Thursday in what many said was a united stand against Russia’s war on Ukraine, as an energy crisis and high inflation fueled by the conflict wreak havoc on their economies. The inaugural summit of the European Political…
SEOUL (Reuters) – South Korea’s household borrowing grew in July for a fourth straight month and by the biggest amount in almost two years, central bank data showed on Wednesday, amid mounting worries by policymakers. Total borrowing from banks increased by 6.0 trillion won ($4.55 billion) to stand at a fresh record high of 1,068.1…
