Tencent said advertising in its nascent short video platform could become a “substantial” revenue source as other areas of its business face pressure. Story Published at: August 18, 2022 at 05:40AM
As gaming sales slump, China’s Tencent signals a hot ad trend it’s betting on
Chinese property developers’ cash flows have plunged by more than 20%
Chinese property developers’ cash flows — a sign of the companies’ ability to stay afloat — have plunged this year, according to Oxford Economics.Story Published at: August 18, 2022 at 01:55AM
Dodge unveils new electric muscle car concept that could replace the Challenger and Charger
Dodge on Wednesday unveiled a new concept car called the Charger Daytona SRT as a preview of its first all-electric muscle car, expected in 2024.Story Published at: August 18, 2022 at 12:00AM
Retail sales little changed in July amid fall in gas prices and drop in auto sales
Retail activity was flat in July as falling fuel prices held back gas station sales and consumers turned more heavily to online shopping.Story Published at: August 17, 2022 at 06:43PM
Jim Cramer says investors should take some profits with markets poised to cool off
“Stocks need a cooling-off period after this miraculous run, and we’re getting one for certain,” Cramer said.Story Published at: August 18, 2022 at 12:15AM
LeBron James agrees to 2-year, $97.1 million contract extension with the Lakers, reports say
LeBron James reportedly agrees to a two-year $97.1 million contract extension.Story Published at: August 17, 2022 at 09:49PM
Manchester United shares briefly pop 17% in premarket after Elon Musk jokes about buying the club
Shares of the English soccer club Manchester United Plc briefly rose by as much as 17% in premarket trading on Wednesday.Story Published at: August 17, 2022 at 12:25PM
The world’s largest sovereign wealth fund loses $174 billion in the first half, cites inflation and war in Europe
The $1.3 trillion fund returned a negative 14.4% during the period, as stocks and bonds reacted violently to global recession fears and skyrocketing inflation. Story Published at: August 17, 2022 at 11:54AM
Tencent posts first ever revenue decline as tough gaming regulation, Covid lockdowns bite
Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid hit the tech giant.Story Published at: August 17, 2022 at 09:51AM
A high-profile meeting in China may have tipped off which provinces will have highest growth
Chinese Premier Li Keqiang has called on six provinces to take the lead in supporting the country’s growth after July data showed a slowdown across the board.Story Published at: August 17, 2022 at 09:05AM