Business News from WN Network

Qualcomm jumps as AI sparks rebound in Chinese smartphone market 2024-05-02
RTE

Qualcomm shares rose 4% in premarket trading today after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the first half of its fiscal year, the company said, as...

photo: Creative Commons / Tech.Co

OECD lifts global growth outlook as US, China outperform expectations 2024-05-02
Al Jazeera

The Organisation for Economic Co-operation and Development (OECD) has upgraded its outlook for the global economy on the back of stronger-than-expected growth in the United States and China. The global economy is forecast to grow 3.1 percent this year and 3.2 percent in 2025, the Paris-based...

photo: AP / Ng Han Guan

Huawei’s comeback gathers pace as quarterly profit surges 2024-05-01
CNN

Huawei Technologies’s net profit leapt 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, a regulatory filing by its parent company showed on Tuesday, as it continues to recover from US sanctions. Huawei’s revenue for the quarter to the end of March rose 37% to...

photo: AP / Ng Han Guan

TikTok ban in EU not excluded von der Leyen 2024-04-30
Beijing News

Last week, US President Joe Biden signed a law demanding that the platform's Chinese owner sell it or be barred from app stores The EU has not ruled out banning Chinese-owned TikTok, European Commission President Ursula von der Leyen has stated. The official, who is seeking another term in June,...

photo: AP / Kiichiro Sato

Why is Japan’s yen so weak against the US dollar? 2024-04-30
Al Jazeera

The weakness of the Japanese yen is in the spotlight again after its latest tumble. On Monday, the currency sank to 160.17 against the US dollar, its lowest since April 1990.Keep reading list of 4 itemslist 1 of 4IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet list 2 of...

photo: Creative Commons / Japanexperterna.se

Microsoft will invest $1.7 billion in AI and cloud infrastructure in Indonesia 2024-04-30
Springfield News-Sun

JAKARTA, Indonesia (AP) — Microsoft will invest $1.7 billion over the next four years in new cloud and artificial intelligence infrastructure in Indonesia — the single largest investment in Microsoft's 29-year history in the country — Microsoft CEO Satya Nadella said Tuesday. Microsoft runs one of...

photo: AP / Thibault Camus

US is one of world’s least trade-oriented nations 2024-04-30
Asiatimes

Given the spate of news about international trade lately, Americans might be surprised to learn that the United States isn’t very dependent on it. Indeed, looking at trade as a percentage of gross domestic product (GDP) – a metric economists sometimes call the “openness index” – the US is one of the...

photo: AP / Axel Heimken

Samsung reports enormous jump in profit on AI boom 2024-04-30
CNN

Samsung Electronics forecast demand for artificial intelligence would hold strong and tighten supply of some high-end chips, joining rivals in benefiting from a solid rebound in the battered global memory chip market. The upbeat outlook from the world’s largest memory chip maker sent its shares 1.8%...

photo: WN / RTayco

Yen surges on suspicion that Japan intervened in currency 2024-04-29
Business Day

Singapore — The yen jumped sharply against its peers on Monday after it slid past ¥160/$ earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday. The Japanese currency strengthened about 2% from the initial 159...

photo: AP / Eugene Hoshiko

Oil set for weekly gain on supply risks and shrinking US crude stockpiles 2024-04-26
The National

Oil prices rose on Friday and were on track to record a weekly gain amid a surprise drop in US crude stocks and persisting Middle East supply risks a market awaits key US inflation data. Brent, the benchmark for two thirds of the world’s oil, climbed 0.43 per cent to $89.39 a barrel at 2.35pm UAE...

photo: Public Domain