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28.08.2024 3:28
Asian Stocks Fall as Chinese Earnings Disappoint: Markets Wrap Asian equities slipped on Wednesday as weak corporate earnings in China raised fresh concerns over its flagging economy. Traders are also awaiting Nvidia Corp.’s results for cues on the growth momentum of artificial-intelligence related stocks.

28.08.2024 3:49
Fortescue’s Profit Misses Forecasts as Higher Costs Bite Fortescue Ltd. reported a small increase in full-year profit, but the fourth-largest iron ore miner missed analyst forecasts as it battled inflationary pressures while weathering a slowdown in demand for the steelmaking material from biggest customer China.

28.08.2024 5:21
BofA to Lead $1.83 Billion Leveraged Loan for Carrier Unit Deal Bank of America Corp. is leading a $1.83 billion leveraged loan for Lone Star Funds’ purchase of Carrier Global Corp.’s commercial and residential fire unit, according to people familiar with the matter who asked not to be identified as the information is private.

28.08.2024 6:03
Market Darling Abercrombie & Fitch to Make a Full Comeback to HK Apparel retailer Abercrombie & Fitch Co., which has emerged as one of America’s hottest stocks over the past year, is planning a full-fledged return to Hong Kong eight years after it shut its flagship store in the city, according to people familiar.

28.08.2024 8:33
Fortescue Metals: Encouraged by China’s Transformation Fortescue Metals CEO Dino Otranto says he’s encouraged by China’s economic transformation and “the maturation of the market away from just purely property and development.” The world’s fourth-largest iron ore miner is seeking to deepen partnerships with China and other countries that want to “go green,” Otranto tells Bloomberg Television. Fortescue Ltd. reported a small increase in full-year profit but missed analyst estimates as it battled higher costs.

28.08.2024 8:33
The Test of Whether AI Will Take Our Jobs Has Already Begun While the rest of the world is still debating what AI might mean for jobs, the Philippines is already living in the new reality. Call centers are starting to embrace AI tools, in a move expected to put hundreds of thousands of workers out of jobs. The IT & Business Process Association of the Philippines says there is a need to upskill workers while the cost of generative AI is still steep. (Source: Bloomberg)