Tencent Holdings Ltd, China’s biggest gaming and social media firm by revenue, trumped forecasts to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising. The most valuable firm listed in Asia – which is riding a wave of success stemming from the popularity of its social-network based mobile […]
Read moreApple is officially open for business in Hollywood. The company is telling content makers it wants to spend $1 billion on its own stuff over the next year. That’s music to studios’ ears, and a tune they have been expecting for some time — especially after Apple hired two top Sony TV executives in June. […]
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UK defends ‘frictionless’ post-Brexit Irish border as mutually beneficial
The British government has defended its plans to establish a “frictionless” border between Northern Ireland and the Irish Republic post-Brexit, saying that the plans are both workable and mutually beneficial. In a white paper published Wednesday, the government said that there should be no border posts separating Britain from its only EU land neighbor and […]
Read moreAtlanta Fed President Raphael Bostic said Wednesday the Great Recession caused people to distrust long-term investments. “There is a psychology going on here, where the Great Recession was so deep and it scarred people so significantly that they are reluctant to trust in long-term investments,” Bostic said in a wide-ranging interview on CNBC’s “Squawk Box.” […]
Read moreFormer Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close lieutenant of President Vladimir Putin into accepting a payment of $2 million. The accusation against Igor Sechin, head of Russia’s biggest oil company, thrust into the open simmering tensions between rival Kremlin clans – a […]
Read moreCheck out which companies are making headlines before the bell: Target – The retailer reported adjusted quarterly profit of $1.23 per share, four cents a share above estimates. Target also beat forecasts on the top line, in its second quarter comparable sales, and in its third-quarter and full-year outlook. Target saw increased customer traffic in […]
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President Donald Trump blasted Amazon on social media Wednesday, saying the e-commerce giant is hurting retailers and causing U.S. job losses. Tweet Link Amazon shares fell as much as 1 percent in Wednesday’s premarket session after Trump’s tweet. Amazon did not immediately respond to a request for comment. Amazon premarket chart Source: FactSet Trump bashed […]
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Superior dividends and great valuations: why investors should consider oil stocks
While the global oversupply of oil continues to weigh on crude prices and suppressed stock prices for oil companies, the sector offers attractive value to investors, experts argue. “The sector has been underperforming, there’s great value, so you have to play the sector,” Beat Wittmann, partner at Swiss financial advisory Porta Advisors, told CNBC’s Squawk […]
Read morePresident Donald Trump‘s bid to open Sydney’s first casino 30 years ago was thwarted after regulators expressed concern over his alleged “mafia connections”, it was revealed on Wednesday. Australia’s New South Wales (NSW) police board recommended against approving an offer from the former New York businessman and a local developer, according to a report from […]
Read moreDenmark’s A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lackluster global trade and a glut of available […]
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