Tag: Business
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Spotify forecasts weak profit as user growth slows in North America, Europe
Aug 4 : Spotify forecast third-quarter profit below Wall Street estimates on Tuesday, after the streaming giant reported slowing user growth in major markets of Europe and North America, driving shares around 5 per cent lower in premarket trading. The Swedish company has launched AI features like “Personal Po
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Merck hikes revenue outlook as new drug sales grow, but cuts profit guidance due to deal charges
Merck cut its profit guidance due to a charge tied to its acquisition of biotech company Terns Pharmaceuticals.
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Palantir jumps 16% on ‘otherworldly’ commercial revenue — here’s what’s driving the demand
“Our customers have declined to become vassal states of the language labs,” Palantir’s co-founder and CEO Alex Karp said after blowout second-quarter earnings.
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Samsung’s retail investors seek extra shareholder meeting over buybacks, bonuses
SEOUL, Aug 4 : South Korean retail shareholder platform ACT said on Tuesday it had launched a campaign to call an extraordinary shareholders’ meeting at Samsung Electronics, urging the chipmaker to buy back about $32 billion worth of shares and set limits on performance bonuses. ACT said it would begin colle
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Japan may not have intervened in FX market on Monday despite yen’s surge, BOJ data suggests
TOKYO, Aug 4 : Japan may not have intervened in the currency market on Monday, central bank data indicated, despite a sudden surge in the yen that led traders to anticipate a third straight day of intervention. The Bank of Japan’s projection for money market conditions for Wednesday points to a shortfall of 3
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Hong Kong June retail sales rise 4.6%, seem support from visitors growth
HONG KONG, Aug 4 : Hong Kong’s retail sales jumped 4.6 per cent in value in June from a year earlier to HK$31.5 billion ($4.02 billion), marking the 14th month of gains, government data showed on Tuesday.• In May, retail sales jumped 7.9 per cent on the year. • In volume terms, June retail sale
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Nippon Steel raises FY2026 profit forecast on strong US Steel earnings
TOKYO, Aug 4 : Japan’s top steelmaker Nippon Steel on Tuesday raised its full-year net profit forecast by 32 per cent to 290 billion yen ($1.84 billion), citing stronger earnings at U.S. Steel amid a firmer U.S. steel market. • Nippon Steel posted a 75.30 billion yen net profit for the April-June first qua
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HSBC resumes buyback after big profit jump in first half of 2026
The results came as the bank continues to streamline its business and focus on key markets.
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Bank of Korea board members consider more rate hikes, minutes show
SEOUL, Aug 4 : Board members of South Korea’s central bank said they would carefully determine the timing and pace of any further policy tightening, with some suggesting preemptive action, when they raised interest rates at their last meeting on July 16 to control inflation, the minutes showed on Tuesday. Th
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HSBC restarts buybacks after rates and wealth boost H1 profit
HONG KONG/LONDON, Aug 4 : HSBC Holdings reported a better-than-expected first-half profit and raised its net interest income target, driven by revenue growth in lending and wealth management fee earnings on robust money flows.Europe’s largest bank posted a pretax profit of $19.5 billion for the first six mont
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