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HONG KONG, China (AFP) — Asian equities mostly rose Friday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and central bank interest rate hikes, while focus turns to key US jobs data later in the day. However, while markets have enjoyed a broadly positive week, optimism remains at a premium as traders fret over issues including the conflict in Eastern Europe, China’s military drills around […]
LOS ANGELES, United States (AFP) – Seven-time Formula One world champion Lewis Hamilton has joined the ownership group of the NFL’s Denver Broncos, the team announced Tuesday. The Broncos entered into a sale agreement with the Walton-Penner family in June pending ownership approval of the deal, which is expected to come next Tuesday. “Excited to join an incredible group of owners and become a part of the @Broncos story!!” Hamilton tweeted. “Honoured to work with […]
SAN FRANCISCO, United States (AFP) — Twitter on Thursday said the notion Elon Musk was “hoodwinked” into inking a $44 billion buyout deal defies reason and the facts. In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company. “According to Musk, he – the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers […]
SAN FRANCISCO, United States (AFP) — Airbnb said Tuesday revenue in the recently ended quarter topped $2 billion as people shook off pandemic worries and took part in a banner travel season. The home rental platform logged a net income of $379 million in what it touted as the most profitable second quarter in its history. As a sign of confidence in its future, the San Francisco-based company announced it will devote $2 billion to […]
NEW YORK, United States (AFP) — Oil prices tumbled Monday following surprisingly weak China manufacturing data, while global stocks were mixed ahead of key jobs data, earnings and central bank announcements. China’s closely-watched Purchasing Managers’ Index of manufacturing activity shrank in July as the result of weak demand and the strict zero-Covid measures imposed in parts of the country. The index, a key gauge of manufacturing activity in the world’s second-biggest economy, came in at […]
by Emeline Burckel Agence France-Presse LONDON, United Kingdom (AFP) — The OPEC+ group of oil exporters are set to hammer out a new strategy at their meeting Wednesday, with all eyes on how they will react to soaring crude prices. The 13 core members of OPEC, led by Saudi Arabia, and the 10 further states in OPEC+ — chief among them Russia — find themselves at a crossroads. After the drastic output cuts they agreed […]
HONG KONG, China (AFP) — Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders. The market heavyweight sank more than five percent in early trade, pushing it to its lowest level since May and dragging the Hang Seng Tech Index with it. The US securities watchdog on […]
PARIS, France (AFP) — French-Dutch airline Air France-KLM said Friday it flew back into profit the in the second quarter for the first time since the coronavirus pandemic, but its performance was hampered by a global shortage of airport staff. “The strong recovery we see this summer is putting the entire aviation industry to the test,” said chief executive Benjamin Smith. “While Air France-KLM had prepared for close to pre-pandemic demand levels, our airlines are […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP) — Amazon and Apple were a relative bright spot in a week of otherwise lackluster earnings results for an industry reckoning with the end of heady pandemic-era growth. A crowded period of quarterly financial releases from the world’s biggest tech firms has been marred by misses and uncertainty — making it clear that the boom triggered by Covid-19 restrictions on getting about has tipped toward […]
LONDON, United Kingdom (AFP) — British energy giant Shell said Thursday that its net profit soared more than five-fold to $18 billion in the second quarter, fuelled by resurgent oil and gas prices, and rewarded shareholders with another bumper buyback. The surge in profits in the three months to June was partially attributable to a reversal of $4.3 billion in impairments after the company raised its forecasts for the gas and oil market. “We […]
Washington, United States | AFP Twitter reported disappointing results on Friday, a miss that the social network attributed to “headwinds” including the uncertainty related to Elon Musk’s buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo. Twitter missed expectations with revenue of $1.18 billion, due to “advertising industry headwinds… […]
by Heather SCOTT Agence France Presse US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices. Government data released Wednesday showed a sharp, faster-than-expected increase in the consumer price index compared to May driven by significant increases in gasoline prices. The 9.1 percent CPI spike over the past […]
