Business

China turns to electric taxis to soften Hormuz oil shock

Wednesday, July 15 by SRN News

By Lewis Jackson and Sam Li BEIJING, July 15 (Reuters) - China has an increasingly important buffer against oil price shocks: electric taxis. Across Chinese cities, taxi usage and ridesharing are booming. In May, people took 3.05 billion trips, with government data showing trips have grown... Read More.

Cartier-owner Richemont’s jewellery sales boom boosts Q1 sales

Wednesday, July 15 by SRN News

By John Revill ZURICH, July 15 (Reuters) - Cartier jewellery owner Richemont reported better-than expected results for its first quarter on Wednesday, helped by booming growth in Asia and the Americas. The company, which also owns Swiss watch brands Piaget and IWC, said its sales rose... Read More.

Instant View: China’s second-quarter economic growth misses market forecast

Tuesday, July 14 by SRN News

July 15 (Reuters) - China's annual economic growth slowed sharply to 4.3% in the second quarter, official data showed on Wednesday, missing analysts' expectations as weak domestic demand and the oil shock tied to the Iran war outweighed stronger production and exports. Analysts polled by... Read More.

China’s economy slows to 4.3% annual pace of growth in April-June

Tuesday, July 14 by SRN News

HONG KONG (AP) - China's economy slowed sharply to a 4.3% annualized pace of growth in the April-June quarter, the government said Wednesday. It was the slowest growth since late 2022 and far weaker than its strong 5% start for the year, despite a... Read More.

Exclusive-AI cloud company CoreWeave explores Wall Street playbook to hedge memory-chip price risk

Tuesday, July 14 by SRN News

By Max A. Cherney SAN FRANCISCO, July 14 (Reuters) - AI cloud computing company CoreWeave is exploring the use of financial derivatives as a potential hedge against a future drop in memory and storage chip prices, according to a person familiar with the matter. The unusual... Read More.

Writers Guild of America seeks to block Paramount’s buyout of Warner in latest merger challenge

Tuesday, July 14 by SRN News

NEW YORK (AP) - The Writers Guild of America became the latest group to challenge Paramount's $81 billion acquisition of Warner Bros. Discovery on Tuesday, filing a lawsuit that seeks to block the merger on the grounds it would cause "specific harm" to movie... Read More.

Kuroda’s negative rate surprise shocked his own BOJ board, minutes show

Tuesday, July 14 by SRN News

By Leika Kihara TOKYO, July 15 (Reuters) - The Bank of Japan's shock introduction of negative rates in 2016 drew intense criticism from within the board with some blasting it as half-baked and a risky move that could trigger a currency war with Europe, policy... Read More.

Oil rises after US-Iran hostilities flare again with strikes on energy targets

Tuesday, July 14 by SRN News

By Helen Clark PERTH, July 15 (Reuters) - Oil rose on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran launched retaliatory strikes on U.S. infrastructure in the region. For the second straight session, Brent closed at its highest since... Read More.

SK Hynix shares surge 13% on AI hopes as US tech stocks resume their climb

Tuesday, July 14 by SRN News

By Heekyong Yang SEOUL, July 15 (Reuters) - Shares in SK Hynix jumped nearly 13% in Seoul on Wednesday, tracking gains in U.S. tech stocks after softer-than-expected U.S. inflation data, while upbeat analyst views on the outlook for AI memory demand also supported sentiment. The rally... Read More.

Asian stocks gain on drop in US inflation rate

Tuesday, July 14 by SRN News

SINGAPORE, July 15 (Reuters) - Asian markets were higher on Wednesday after a surprise slowdown in U.S. inflation scaled back market expectations for interest rate hikes, while oil took a breather as the U.S. scrapped a plan to levy shipping through the Strait of... Read More.

Current Weather

China turns to electric taxis to soften Hormuz oil shock

Cartier-owner Richemont’s jewellery sales boom boosts Q1 sales

Instant View: China’s second-quarter economic growth misses market forecast

China’s economy slows to 4.3% annual pace of growth in April-June

Writers Guild of America seeks to block Paramount’s buyout of Warner in latest merger challenge

Kuroda’s negative rate surprise shocked his own BOJ board, minutes show

Oil rises after US-Iran hostilities flare again with strikes on energy targets

SK Hynix shares surge 13% on AI hopes as US tech stocks resume their climb

Asian stocks gain on drop in US inflation rate

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