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Intel, Samsung hammered as chips demand plummets
The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips.
Amazon shares surge as earnings beat expectations
Shares in Amazon leapt on Thursday after the online retail colossus reported it made a lot more money than expected in the first quarter of 2023. Amazon reported a profit of $3.2 billion on sales that climbed 9 percent to $127.4 billion in the quarter.
Caterpillar shares fall despite strong results
Caterpillar reported higher profits Thursday and offered an upbeat outlook on industrial conditions, but shares fell amid worries over weakening global growth. Despite topping analyst estimates, Caterpillar shares fell 2.4 percent to $211.07 in early-afternoon trading.
US growth cools in first quarter as recession fears deepen
US economic growth lost steam in the first quarter this year, said the Commerce Department on Thursday, as the possibility of a mild recession brews while consumer spending weakens. The GDP growth figure "reflected increases in consumer spending, exports, federal government spending," along with some forms of investment, said the department in a statement.
Strong demand lifts American Airlines to profitable Q1
American Airlines reported a profitable first quarter Thursday and said persistently robust travel demand would translate to even stronger results in the current period. The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
Microsoft says EU more attractive after UK blocks deal
Microsoft on Thursday said the European Union was "more attractive" for businesses than post-Brexit Britain after the latter blocked its vast takeover of video game maker Activision Blizzard on competition fears.
UK bank Barclays profits from rising interest rates
British bank Barclays said Thursday that net profit jumped 27 percent in the first quarter, boosted by rising interest rates and non-repetition of exceptional charges. Barclays was "supported by higher interest rates and the continued investment in our transformation into a next-generation, digitised consumer bank", the lender added.
Baijiu 'godfather' launches year's largest IPO in Hong Kong
China's "godfather of baijiu" launched Hong Kong's largest IPO of the year on Thursday, with the holding company for four of his liquor brands raising around HK$4.5 billion despite a rocky start to trading. Even so, its nearly HK$4.5 billion in proceeds still amounted to more than half of what the Hong Kong stock exchange generated from IPO offerings in the first quarter of 2023.
Asian stocks mixed after lacklustre session on Wall Street
Asian shares were mixed in early trade on Thursday, following a session on Wall Street that saw major indices sink despite a surge in tech.
AFP
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