China is preparing to hit ride-hailing giant Didi with a fine of more than $1 billion to wrap up a long-running probe, media reports said, boosting investor hopes that the country's tech crackdown is winding down.. The WSJ report triggered a rally in Chinese tech shares in Hong Kong on Wednesday, with investors hopeful that the two-year regulatory storm that swept the sector was nearing its end.
Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles fierce competition and plateauing demand.. The streaming giant reacted by announcing the arrival of advertising on the service, with the aim to finance the investments necessary to maintain its position as leader in the industry that it launched.
A high-stakes court battle between Elon Musk and Twitter began Tuesday in Delaware, a tiny slice of America's east coast best known as the nation's oldest state.. The Musk-Twitter case will be heard in the Delaware Court of Chancery, a court specializing in business law that was established in 1792, modeled on a British court of the same name.
European planemaker Airbus trailed its fierce US rival Boeing in an orders battle on the second day of the Farnborough airshow on Tuesday, as southern England buckled under a record heatwave.. However, Boeing already had the upper hand after clinching a $13.5-billion order for Boeing's crisis-hit MAX from Delta on the first day of Farnborough on Monday.
The high stakes court battle between Elon Musk and Twitter kicked off on Tuesday, as the social media firm tries to force the entrepreneur to honor their $44 billion buyout deal.. A forced closing of the Twitter deal is a scenario that some analysts consider possible.
US gasoline prices have fallen from historic highs earlier in the summer, a retreat highlighted by a politically beset White House as a sign of moderating inflation.. The White House memo also noted that the decline in gasoline prices has gotten a fraction of the media coverage that the run-up in prices earlier in the spring received.
US planemaker Boeing won a fresh boost Tuesday for its crisis-hit MAX aircraft, as investment fund 777 Partners ordered up to 66 of the passenger aircraft worth a combined $8 billion.. US airline Delta on Monday announced a deal to buy 100 MAX passenger aircraft worth a combined $13.5 billion.
Europe's main stock markets steadied and the euro rallied against the dollar Tuesday as traders looked ahead to a key European Central Bank meeting later this week. . The euro meanwhile jumped more than one percent against the dollar, as traders mulled whether the European Central Bank could hike interest rates more than expected to fight runaway inflation.
The French government on Tuesday outlined its plans to take full control of EDF, the highly indebted power utility that is to spearhead efforts to relaunch the country's nuclear industry.. - 'Peace of mind' - Earlier this year, Macron called for a "renaissance" of the country's nuclear industry, saying he wanted up to 14 new reactors to power the country's transition away from fossil fuels.
Sri Lanka's parliament elects a new president on Wednesday to replace Gotabaya Rajapaksa, who last week fled to Singapore and resigned following months of protests over the country's financial meltdown.. - Sri Lanka's financial woes were triggered by the coronavirus pandemic but exacerbated by mismanagement under Rajapaksa's government.
