Business & Finance News
China’s President Xi Jinping said on Friday that China will continue to offer funding for projects under the Belt and Road initiative, but also welcomes other organizations’ participation in financing.
China’s President Xi Jinping said on Friday the aim of his Belt and Road initiative is to advance win-win cooperation among countries and build a new platform for international trade, while also creating development opportunities for China.
Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter.
U.S. social media giant Facebook Inc on Thursday said it has filed a lawsuit in U.S. Federal court, against a company and three people in New Zealand, alleging the sale of fake engagement services on its Instagram photo-sharing platform.
Nintendo Co Ltd’s shares fell as much as 5 percent in early Tokyo trading, a day after the gaming company offered conservative earnings guidance and urged caution on the roll-out of its Switch console in China.
Brazil’s state-run oil company Petroleo Brasileiro said on Thursday it had closed a $1.29 billion deal with Malaysia’s Petronas to sell 50 percent of Petrobas’ exploration and production rights in two of its offshore fields.
Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission on Thursday sought a second delay and requested to provide the court another joint submission on or before April 30, indicating whether they have reached an agreement to settle a dispute over Musk’s use of Twitter, both parties said in a court filing.
Asian shares got off to a subdued start on Friday, while the dollar held near two-year highs against the euro on speculation that data later in the day will show the U.S. economy outperforming the rest of the developed world.
Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation.
Uber, Didi Chuxing and other ride-hailing firms on Thursday criticized a host of new regulations of the sector in Mexico’s capital city, which include a ban on cash fares that could exclude many potential customers who lack bank accounts.
Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante for retail rivals such as Walmart Inc.
Oil prices eased after Brent touched $75 per barrel on Thursday for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market’s ability to rally further.
Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter.
T-Mobile US Inc first-quarter revenue and profit jumped from a year earlier, beating Wall Street’s estimates, as competitive pricing lured new subscribers to its monthly cellphone plans.
New York Attorney General Letitia James said on Thursday she is investigating Facebook Inc’s unauthorized storage of up to 1.5 million Facebook users’ email contact databases, the latest privacy issue to affect the U.S. social media giant.
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