Month: August 2024
China expects air travel to hit a record in 2024
China is expected to see a record-level of passenger air travel in 2024, according to the Civil Aviation Administration of China. All Copyrights Belong To Jingying Zhao | Moment | Getty Images China is expecting air passenger travel to hit a record in 2024, bouncing past pre-pandemic levels. Passenger flights may reach 700 million this year, […]
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Apple supplier Foxconn’s second-quarter profit rises 6% on AI boom
Hon Hai Group’s headquarters in Taipei, Taiwan. Ceng Shou Yi | Nurphoto | Getty Images Apple supplier Foxconn reported on Wednesday a 6% rise in second-quarter net profit, driven by strong AI server demand as the company touted “strong growth momentum” from the technology boom. The Taiwanese company, the world’s largest contract electronics maker, said net profit for the […]
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CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024 in New York City. Michael M. Santiago | 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, no […]
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UK inflation rose to 2.2% in July, back above Bank of England’s 2% target
Shoppers walk along the high street in Rochester, UK, on Tuesday, July 16, 2024. Chris Ratcliffe | Bloomberg | Getty Images U.K. inflation rose to 2.2% in July, coming in slightly below expectations, data from the Office of National Statistics showed Wednesday. Economists polled by Reuters had been expecting headline CPI to come in at […]
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France’s ‘Olympics truce’ ends, returning political tensions to the fore
Emmanuel Macron, president of France, arrives at the Stade de France prior to the Closing Ceremony of the Olympic Games Paris 2024 at the Stade de France on August 11, 2024 in Paris, France. Tom Weller/voigt | Getty Images Sport | Getty Images Time is running out on the so-called “Olympic political truce” declared by […]
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Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts
A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California. Justin Sullivan | Getty Images News | Getty Images Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet […]
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UBS posts $1.14 billion profit in second quarter, smashing expectations
General view of the UBS building in Manhattan, New York City, on June 5, 2023. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected. Net profit attributable to shareholders came in […]
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Video game industry faces sluggish growth in 2024 amid weak console sales, research firm says
Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025. Guillaume Payen | Sopa Images | Lightrocket | Getty Images The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research […]
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India launches app to lower deaths caused by wild elephants
Elephants in Orang National Park in Assam, India. Dinodia Photo | Corbis Documentary | Getty Images The state of Assam, in northeastern India, has launched a mobile app that warns people of incoming herds of wild elephants in an effort to reduce violent encounters between humans and the land giants. Clashes between humans and elephants […]
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China’s Huawei is reportedly set to release new AI chip to challenge Nvidia amid U.S. sanctions
BERLIN, GERMANY – SEPTEMBER 03: People arrive to attend the Huawei keynote address at the IFA 2020 Special Edition consumer electronics and appliances trade fair. Sean Gallup | Getty Images News | Getty Images Chinese technology giant Huawei is set to challenge Nvidia with a new artificial intelligence chip amid U.S. sanctions that had sought […]
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