Uber shares drop after revenue miss, despite first operating profit
Shares of Uber fell more than 5% on Tuesday after the company reported second-quarter results that missed analysts’ expectations for revenue but offered rosy guidance.
Asia’s factories face weak demand, signaling growth challenges ahead
A slew of private surveys released Tuesday showed that manufacturing activity in many of Asia’s major producers contracted in July.
Myanmar junta grants partial pardon to democracy champion Aung San Suu Kyi
The Nobel Laureate was only last week moved from prison to house arrest in the capital, Naypyitaw, after being in detention since a military coup in early 2021.
Oil major BP posts 70% drop in second-quarter profit, raises dividend by 10%
Oil majors have failed to match the bumper profits posted during the same period of last year amid weaker commodity prices.
Daimler Truck hits double-digit return on sales in industrial business
Incoming orders were nevertheless down by 12% in the first half of the year, results showed.
China should act decisively to pull ‘sputtering’ economy back from the brink, says Cornell professor
Beijing doesn’t want to send a signal that it is in “panicky mode yet,” as policymakers want to show confidence that “they can manage the economic situation.”
From Washington to Warsaw, a ‘greenlash’ is picking up steam despite extreme heat
Reprisals over climate policies come at a time of extreme heat.
Australia’s central bank leaves rates unchanged at 4.1%
The Australian central bank has hiked interest rates by a cumulative 400 basis points since May last year to its highest in 11 years.
HSBC net profit more than doubles in the first half, announces $2 billion share buyback
Net profit for the first half stood at $18.1 billion, while revenue for the same period came in at $36.9 billion.
Country Garden shares drop 5% after reporting it scrapped $300 million share sale
Chinese property stocks slid Tuesday, after Country Garden scrapped its $300 million primary share placement.
