-- Most Asian stocks fell on Wednesday with an underwhelming economic outlook from China providing little support, while overnight losses in Wall Street spilled over as markets grew skittish before more signals on U.S. rates. Regional markets were also hit with an extended bout of profit-taking, particularly in Japan and Australia, as an artificial intelligence-driven...
By Stella Qiu SYDNEY (Reuters) -BYD and other Chinese automakers are bringing new electric car models in droves to Australia, a market where they haven\'t faced trade barriers and sales have surged due to EV subsidies and tax benefits as well as high gasoline prices. Since coming to power in 2022, Prime Minister Anthony Albanese\'s...
-- Shares of Apple Inc\'s (NASDAQ:AAPL) Asian suppliers fell on Wednesday, tracking an overnight slump in the tech giant after media reports showed Chinese sales of its flagship iPhone tumbled in the beginning of 2024. South Korea’s Samsung Electronics Co Ltd (KS:005930) and SK Hynix Inc (KS:000660), which supply memory chips to Apple, fell 1.2%...
By Toby Sterling THE HAGUE (Reuters) - Dutch semiconductor sector startups are attracting an increasing amount of funding, the organisation set up by the Economic Affairs Ministry to strengthen tech entrepreneurship in the Netherlands said in its annual review on Wednesday. Venture capital funding for Dutch chip startups grew for the fifth consecutive year in...
By Siddharth Cavale NEW YORK (Reuters) - Opening new stores is back in style - at some U.S. retail chains. Executives at several major retailers in recent weeks have touted the chains\' efforts to gain market share by adding new locations. Target, for instance, is adding 300, Walmart (NYSE:WMT), 150; Sam\'s Club, 30; Bloomingdale\'s, 15...
By Emma Rumney and Casey Hall LONDON/SHANGHAI (Reuters) - Global drinks giants seeking to tap into younger Chinese drinkers\' growing appetite for whiskies and cognacs face a challenge as they take on the producers of China\'s dominant liquor baijiu. Western companies like Diageo (LON:DGE) and Pernod Ricard (EPA:PERP) have previously focused on the luxury end...
A look at the day ahead in European and global markets from Tom Westbrook The upbeat tone that\'s pushed stocks higher for weeks abruptly shifted overnight and left Asia markets drifting downward on Wednesday, with traders nursing losses and awaiting their next cues from Fed Chair Jerome Powell\'s testimony before Congress. Powell is expected to...
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks rose on Wednesday as traders awaited policy cues from Beijing during its week-long annual session of parliament after a prior lack of stimulus measures disappointed some investors, while gold and bitcoin eased after touching record peaks. Traders were also hesitant to place major bets ahead of congressional...
By Foo Yun Chee BRUSSELS (Reuters) - Elon Musk\'s X social media platform, TikTok owner ByteDance and Booking (NASDAQ:BKNG).com may meet EU criteria subjecting them to tough tech rules as so-called gatekeepers, the European Commission said late Friday, after notifications by the companies. The Digital Markets Act (DMA) designates companies with more than 45 million...
By Foo Yun Chee BRUSSELS (Reuters) - Europe\'s second highest court has said EU regulators should pay 785,857.54 euros ($851,634) of legal fees for Qualcomm (NASDAQ:QCOM), less than 10% of the 12 million euros sought by the U.S. chipmaker after it won an appeal against an antitrust fine. The Luxembourg-based General Court said the number...