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General Motors lifts 2024 profit forecast after strong Q1
General Motors reported higher profits Tuesday thanks to continued strength in North America that offset a loss in its China business, enabling the carmaker to lift its forecast. GM's strength in its home market helped offset an operating loss of about $100 million in GM's China operation.
New US home sales pick up in March
Sales of new homes across the United States increased sharply last month, according to fresh government data published Tuesday, though February's numbers were revised lower. "Home sales surprised to the upside in March," High Frequency Economics chief US economist Rubeela Farooqi wrote in a note to clients, adding: "The data can be volatile month-to-month and subject to revision."
EU parliament votes forced labour ban with China in its sights
EU lawmakers voted on Tuesday to ban products made using forced labour which supporters hope will be used to block goods from China, at the risk of raising tensions with Beijing. The law does not directly mention China, but many lawmakers hope it will be used to block imports from China involving the region where the Uyghur Muslim minority lives.
How UK's biggest water supplier sank into crisis
Thames Water, the UK's largest water supplier, has been ravaged since privatisation by soaring debts and chronic underinvestment, sinking into a deep financial crisis which has sparked bailout speculation.
Spotify swings to profit, paying subscribers rise
Music and podcast streaming giant Spotify reported Tuesday an increase in the number of paying subscribers and a rare but lower-than-expected operating profit for the first quarter. On Tuesday it said it expected an operating profit of 250 million euros in the second quarter of the year.
Eurozone business activity accelerates in April
Business activity in the eurozone picked up in April thanks to "increasingly robust" growth in the services sector, a closely watched survey showed Tuesday. "Increasingly robust service sector growth was nevertheless accompanied by signs of a further moderation of the manufacturing downturn," S&P Global said.
London stock market hits record high
London's FTSE 100 stocks index hit record highs Tuesday, catching up with major global peers which have struck all-time peaks this year as inflation cools. The FTSE reached 8,076.52 points shortly after the open, surpassing a record 8,047.06 struck in February last year.
In world first, Venice to trial day tickets
Venice will this week begin charging day trippers for entry, a world first aimed at easing pressure on the Italian city drowning under the weight of mass tourism. The aim of the tickets is to persuade day trippers to come during quieter periods, to try to thin out the worst of the crowds.
Musk lashes Australian order demanding X remove stabbing videos
Tech bad boy Elon Musk on Tuesday vowed to challenge demands that his social media platform X take down videos of a recent Sydney church stabbing. Video of the bloody attack, which spread widely on social media platforms, has been blamed by Australian authorities for feeding tensions in the community.
AFP
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