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Mired in crisis, Boeing reports another loss
Troubled aviation giant Boeing reported a first-quarter loss of $343 million on Wednesday, reflecting recent safety troubles that have slowed production and deliveries. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Chief Executive Dave Calhoun, who will step down at the end of 2024.
Italy fines Amazon over 'recurring' purchase option
Italy's competition authority said Wednesday it had fined two Amazon companies 10 million euros ($10.6 million) for unfair commercial practices, for pushing customers into agreeing to "recurring" rather than "one-time" purchases online.
Malaysian airline mogul Fernandes delays retirement
Malaysia's Tony Fernandes, one of Asia's most prominent entrepreneurs, has decided to extend his contract as chief executive of Capital A, the firm said Wednesday, after the board persuaded him to delay his planned retirement.
EU opens probe into China's medical device market
The European Union has launched an investigation into Chinese public procurement of medical devices, the EU's official journal said Wednesday, in a move that risks raising further tensions with Beijing. It is the first probe under the EU's International Procurement Instrument which seeks to promote reciprocity in access to international public procurement markets.
Heineken beer sales pop but hazy days ahead
Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year. "We continue to see the economic environment as challenging and uncertain, and will remain agile and focused," he said.
Chinese sellers go to TikTok school to reach buyers abroad
Donning hijabs and floor-length abaya gowns over shorts and tank tops, Chinese students at an e-commerce school perform into a smartphone camera as they learn how to sell the clothes to overseas TikTok users. It is the final day of a two-week course on selling products abroad via the short video app -- which despite being blocked in China is a platform more and more Chinese vendors are turning to.
German forecast to offer signs if ailing economy on the mend
The German government will present its latest growth forecasts on Wednesday as Europe's crisis-hit top economy shows tentative signs it is finally turning a corner. But slight improvements in indicators do not mean the government will make any big changes to its forecasts, with analysts still expecting tepid growth this year.
China, future HQ: New ASML boss faces bulging in-tray
Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground. Fouquet is the second Frenchman to run the Dutch firm, after Eric Meurice, and trade publication Bits&Chips said his nationality could cut both ways.
Asian stocks rise on earnings optimism as US data approaches
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity. General Electric, Spotify, and diaper and paper product brand Kimberly-Clark were among the companies posting strong gains after releasing quarterly reports.
AFP
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