Business

Hong Kong’s Hang Seng fell nearly 2% on pressure on technology stocks;  yen gets stronger

Hong Kong’s Hang Seng fell nearly 2% on pressure on technology stocks; yen gets stronger

SINGAPORE – Hong Kong’s Hang Seng Index fell nearly 2% on Friday as technology stocks came under pressure. The benchmark index fell 2.3%, while the Hang Seng Tech index was down 4.25%. Heavyweights Alibaba and Mituan Hang Seng fell 5.8% and 5.21%, respectively. Alibaba is on track for its third consecutive session of losses after …

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Slowing Apple services is a potential concern for margin-focused investors

Slowing Apple services is a potential concern for margin-focused investors

Apple CEO Tim Cook speaks at the Apple Worldwide Developers Conference (WWDC) at the San Jose Convention Center in San Jose, California on Monday, June 4, 2018. Josh Adelson | AFP | Getty Images For more than half a decade, Apple has been touting its services business as an engine of growth that will offset …

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Amazon shares surge on earnings beat, despite  billion loss – TechCrunch

Amazon shares surge on earnings beat, despite $2 billion loss – TechCrunch

E-commerce giant Amazon announced its second-quarter results today, and despite inflation and a net loss of $2 billion, results were surprisingly better than expected. All losses are due to Amazon’s stake in Rivian. The net loss in the second quarter compares to a net profit of $7.8 billion in the second quarter of 2021. Sales …

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Apple expects faster sales growth, strong iPhone demand despite dismal economy

Apple expects faster sales growth, strong iPhone demand despite dismal economy

(Reuters) – Apple Inc (AAPL.O) said Thursday that parts shortages are easing and demand for iPhones is not stopping despite consumers tightening other spending, helping it to beat Wall Street expectations and anticipate faster sales growth in the future. . Shares of the Silicon Valley giant rose 3.5% hours after the results were announced. Although …

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The US economy is shrinking again, fueling recession fears

The US economy is shrinking again, fueling recession fears

Gross domestic product, a broad measure of economic activity, fell 0.9% year-on-year from April through June. This decline represents a major symbolic limit to the more popular – albeit unofficial – definition of a recession as two consecutive quarters of negative economic growth. The highly anticipated data release has gained in importance as investors, policy …

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Treasury Secretary Yellen said the US economy was transitioning to “steady and sustainable” growth.

Treasury Secretary Yellen said the US economy was transitioning to “steady and sustainable” growth.

President Biden and Treasury Secretary Janet L. Yellen on Thursday dismissed questions about whether the US economy is already in a recession, citing a strong labor market and other metrics as signs of its health. Ms. Yellen, speaking at a Treasury news conference, said she did not believe the United States was in a recession, …

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Trucking CEOs anticipate higher prices and potential outages in the second half of the year

Trucking CEOs anticipate higher prices and potential outages in the second half of the year

Trucks at the entrance to the Port of Oakland in Oakland, California, US, on Thursday, July 14, 2022. Truck drivers serving some of the United States’ busiest ports stage protests as statewide labor rules that change their employment status begin to enter. , creating another choke point in stressed US supply chains. David Paul Morris …

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Market rally extends its momentum while Apple Pops and Amazon rise

Market rally extends its momentum while Apple Pops and Amazon rise

Dow futures rose overnight, along with S&P 500 futures and especially Nasdaq futures apple (AAPL) and Amazon.com (AMZN) is leading another wave of overnight earnings. X The stock market rally showed its strength on Thursday, ignoring the post-Fed Fed pullback and weak earnings to move modestly higher. Major profits overnight In addition to Apple and …

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Intel Ends Optane Memory Business – XPoint 3D Storage Technology Comes to an End

Intel Ends Optane Memory Business – XPoint 3D Storage Technology Comes to an End

It looks like the end may be imminent for Intel’s embattled Optane memory business. Tucked inside a brutal release of the company’s second-quarter 2022 earnings (more on that later today) is an intriguing statement in a section that talks about non-GAAP adjustments: In the second quarter of 2022, we began closing the Intel Optane memory …

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Wall St ends sharply for the second day;  Amazon.com, Apple jump after hours

Wall St ends sharply for the second day; Amazon.com, Apple jump after hours

The US economy contracted in the second quarter Meta Platforms revenue drops for the first time Ford stock gains after the results Indices: Dow Jones rose 1%, Standard & Poor’s 500 rose 1.2%, Nasdaq rose 1.1%. NEW YORK (Reuters) – U.S. stocks rebounded on Thursday for a second day in a row, with all three …

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