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Monthly Archives: July 2023

China removes Qin Gang as foreign minister after one-month absence

Qin Gang, China’s foreign minister, speaks while holding a copy of the constitution during a news conference in Beijing, China, on Tuesday, March 7, 2023. Qilai Shen | Bloomberg | Getty Images Xi Jinping’s Beijing administration appointed China’s top diplomat Wang Yi to replace Qin Gang as foreign minister, Chinese …

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General Motors, 3M, Spotify, Verizon and more

Maplewood, Minnesota, 3M company global headquarters.  Michael Siluk | Universal Images Group | Getty Images Check out the companies making headlines in premarket trading. General Motors — Shares of General Motors rose more than 1% after the automaker raised its full-year guidance and reported second-quarter results that rose on a …

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Spotify (SPOT) earnings

Budrul Chukrut | LightRocket | Getty Images Shares of Spotify fell 7% in premarket trading Tuesday after the company released second-quarter results that missed analysts’ estimates for revenue and offered weaker-than-expected guidance. Here’s how the company did: Loss per share: Loss of 1.55 euros, not comparable to estimates Revenue: 3.18 billion euros …

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Adidas up 6% after trimming 2023 loss forecast on strong Yeezy sales

A fashion week guest seen wearing red Adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London. Jeremy Moeller / Contributor / Getty Images German sportswear giant Adidas on Monday said it expects a significantly smaller operating loss for the year …

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TSMC to invest $2.9 billion in advanced chip packaging plant in Taiwan

TSMC is the top producer of the world’s most advanced processors, including the chips found in the latest iPhones, iPads and Macs. Jakub Porzycki | Nurphoto | Getty Images Taiwan Semiconductor Manufacturing Company plans to invest nearly $90 billion New Taiwan dollars (about $2.87 billion) in an advanced chip packaging …

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What new norm of slower Chinese growth could mean for the global economy

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Ying Tang | NurPhoto | Getty Images The Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion …

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Chinese stocks rose as Beijing vows measures to boost weak economy

Tourists at the Bund on July 11, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images Chinese stocks soared Tuesday as Beijing pledged to ramp up measures to bolster China’s sputtering economy. Hong Kong’s Hang Seng Index surged more than 3%, China’s tech-heavy ChiNext rose 1.8% and …

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General Motors (GM) earnings Q2 2023

Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT — General Motors is set to report its second-quarter earnings before the bell Tuesday. The Detroit automaker is expected to report solid results, driven by favorable industry trends of high prices on new vehicles and increased sales …

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Australia minister Chris Bowen on why nuclear isn’t in its energy mix

Nuclear energy has never been part of Australia’s energy mix as it has abundant renewables, according to Australia’s minister for climate change and energy.  “I’m not here to tell other countries what to do. Nuclear plays a role in various countries’ mix, but in Australia, it never has,” Chris Bowen …

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China vows to optimize property policy in tortuous economic recovery

China’s top leaders vowed to “adjust and optimize policies in a timely manner” for its beleaguered property sector, while elevating stable employment to a strategic goal, along with other pledges to boost domestic consumption demand and resolve local debt risks. Ullstein Bild | Ullstein Bild | Getty Images China’s top …

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