Month: August 2024
Lego revenue jumps 13% in first half of 2024, boosted by Lego Fortnite and diverse brick sets
Customers at a Lego store in Shanghai, China, on Feb. 3, 2024. Costfoto | Nurphoto | Getty Images An inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year […]
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Hybe, K-pop’s largest agency, gains $282 million in market cap after sublabel CEO steps down
SEOUL, SOUTH KOREA – 2024/04/23: People walk past the Hybe Building in Seoul. Sopa Images | Lightrocket | Getty Images Shares of Kospi-listed Hybe popped as much as 4.97% on Wednesday after Min Hee-jin, the former CEO of sublabel ADOR, stepped down on Tuesday after market hours. This represented a gain of about 376.02 billion […]
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CNBC Daily Open: Everyone’s waiting for Nvidia
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, […]
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Apple eyes bigger slice of India’s streaming market with Airtel deal
The Airtel logo is seen displayed on a mobile phone screen. Sopa Images | Lightrocket | Getty Images Apple‘s tying up with India’s Airtel to offer the telecom firm’s premium customers its music and video streaming services for free, potentially giving the U.S. firm access to thousands of consumers in a price-sensitive market. The move comes as competition tightens in India’s $28-billion entertainment market and […]
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China’s Nongfu Spring sees shares fall over 12% after beverages maker posts decline in profit growth
Nongfu Spring’s bottled water in a supermarket in Hangzhou, China. Costfoto | Barcroft Media | Getty Images Shares of China’s largest bottled water producer Nongfu Spring slumped on Wednesday, a day after the company reported a sharp slowdown in profit growth in the first half of the year. Shares of Nongfu Spring listed in Hong […]
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JD.com shares climb after announcing $5 billion share buyback, outperforming decline in Hang Seng
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm […]
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Bank of Japan to begin initial research to include wage trends in ‘tankan’ business survey
Pedestrians walk past the northern entrance to the Bank of Japan (BOJ) headquarters in Tokyo, Japan. Tomohiro Ohsumi | Bloomberg | Getty Images The Bank of Japan (BOJ) said on Tuesday it would start preliminary research on including wage-related items in its quarterly “tankan” business survey to more accurately reflect wage trends in the country’s monetary policy. The central bank plans […]
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Chinese EV company Xpeng sees shares pop 6% after it launches mass-market car
Key Points Xpeng shares rose after the Chinese electric car company said prices for its new mass-market Mona brand would start as low as $16,812, far below that of Tesla’s Model 3. The Chinese automaker said orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car’s formal launch Tuesday evening […]
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China Evergrande’s EV arm warns of bigger first-half loss on impairment provisions
The China Evergrande New Energy Vehicle Group factory in Shanghai on Sept. 24, 2021. Qilai Shen | Bloomberg | Getty Images The electric vehicle unit of embattled real estate developer China Evergrande said on Tuesday it expected to report a bigger loss for the first half of 2024, reflecting an increase in provision for impairments. China […]
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Cryptocurrencies tumble amid a wave of long liquidations, bitcoin falls under $60,000
Cryptocurrencies fell Tuesday evening as Asia futures pointed lower, triggering a wave of liquidations on the Bybit exchange. The price of bitcoin was last lower by 6.2% at $59,504.68, according to Coin Metrics. Ether tumbled more than 8% to $2,457.61. “Crypto markets moved down sharply, triggering a leverage driven liquidation,” said Steven Lubka, head of […]
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