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EU designates TikTok, other online platforms for stricter rules
The European Union on Tuesday designated 19 online platforms, including Instagram, TikTok and Twitter, as having user numbers so big they will come under stricter regulatory rules for content.
Dollar up as Biden confirms re-election bid
The dollar was largely higher Tuesday as Joe Biden confirmed his bid to win re-election as US president next year. Worries that the global economy could enter a downturn this year continued to weigh heavily on stock markets Tuesday.
General Motors lifts 2023 forecast after strong Q1 results
General Motors raised key 2023 profit projections Tuesday following a solid first quarter in which strong results in North America compensated for declines in other regions. Deliveries rose in North America, which accounted for more than half of overall car sales.
Ex-Audi exec pleads guilty over 'dieselgate'
A former top executive at German carmaker Audi on Tuesday pleaded guilty over the "dieselgate" emissions-cheating scandal that rocked parent company Volkswagen, after a lengthy trial. It is not yet clear whether former Audi CEO Rupert Stadler -- the main defendant in the case, and the first auto boss in Germany to stand trial over the scandal -- will also enter a guilty plea.
Santander profits up despite windfall tax on banks
Spanish banking giant Santander saw its first quarter net profits rise thanks to strong business activity that offset a windfall tax imposed by Spain's leftwing government, results showed Tuesday. The robust start offset the impact of a temporary windfall tax on big banks imposed by Spain's government in January to fund measures to help households cope with higher prices.
Nestle sales grow on back of price increases
Swiss food group Nestle on Tuesday reported better-than-expected sales in the first three months of the year, helped by price increases to offset inflation and demand for its staple products. "Portfolio optimization efforts and responsible pricing helped to offset the ongoing pressures from two years of cost inflation," he said.
Moon shot: Japan firm to attempt historic lunar landing
A Japanese space start-up will attempt Tuesday to become the first private company to put a lander on the Moon. However, Japan and the United States announced last year that they would cooperate on a plan to put a Japanese astronaut on the Moon by the end of the decade.
Asian stocks mostly down after mixed session on Wall Street
Asian stocks were mostly down on Tuesday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements. South Korea on Tuesday announced better-than-expected economic growth of 0.3 percent for the first quarter of the year, dodging a technical recession.
Investors look for strength in UBS results
UBS is expected to post solid first quarter results Tuesday, with all eyes on whether the bank is strong enough to carry through its forced alliance with stricken rival Credit Suisse. US banks have set the tone, with Citigroup, Wells Fargo and Bank of America having already posted better-than-expected results, as interest rates boosted their incomes.
AFP
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