Grim China data, Italy woes smother global stocks recovery
A global equity recovery set off by softer rhetoric from U.S. President Donald Trump on the trade dispute with Beijing waned on Wednesday as grim Chinese data and fresh Italian debt woes cast a shadow over global markets.
China says it will support firms in boosting R&D spending
China will support firms in boosting their spending on research and development, state television cited the cabinet as saying on Wednesday.
Tencent books record, estimate-busting first-quarter profit, boosted by investment gains
Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud computing make up for declines in games.
Futures dip after China data shows slowing retail sales
U.S. stock index futures slipped on Wednesday, as grim data out of China cast a shadow over market sentiment, while investors awaited more developments related to the U.S.-China trade dispute.
Alibaba revenue beats estimates on cloud boost; shares rise
China’s Alibaba Group Holding Ltd beat analysts’ estimates for fourth-quarter revenue on Wednesday, boosted by growth in its core e-commerce and cloud computing businesses.
IKEA says in final stages of talks to invest in Northvolt
IKEA is in the final stages of talks with Northvolt about participating in the battery startup’s fundraising for a factory, the world’s biggest furniture retailer said on Wednesday.
Fears of flying Boeing’s 737 MAX won’t get in way of price conscious ticket shoppers: Reuters/IPSOS poll
U.S. fliers still consider ticket prices the most important factor when choosing a flight, according to a Reuters/Ipsos poll, suggesting two fatal crashes of Boeing Co 737 MAX jets have had little impact on consumer sentiment.
SoftBank leads $200 million investment in India’s Grofers
Japan’s SoftBank Group Corp has led an investment round of more than $200 million in online grocery startup Grofers India through its Vision Fund, the New Delhi-based company said on Wednesday, upping competition in a hotly chased market in the country…
Tencent first quarter profit beats estimates as FinTech trumps mobile gaming
Tencent Holdings Ltd booked a 17% profit rise for the three months ended March, and revealed it made more revenue from FinTech and business services than smartphones games for the first time as it bore the brunt of regulatory setbacks in its mainstay g…
Rising U.S. oil output helps fill gap left by Iran, Venezuela: IEA
The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Wednesday.
