Business
Asian shares mixed on hopes for avoiding recession
Asian stock markets were mixed Thursday amid hopes Western economies can avoid a recession despite higher interest rates to cool inflation. Hong Kong and Seoul advanced. Tokyo declined. Markets in China, India and Australia were closed for holidays. Wall Street ended Wednesday little changed after recovering from a slump early… Read
Luxury sector impatient for return of Chinese tourists
The European luxury sector is welcoming the end of pandemic lockdowns in China, as the return of big-spending Chinese tourists could sustain further growth. Prior to the pandemic, Chinese tourists visiting Europe were a major source of sales for luxury houses. The Chinese accounted for "a third of luxury purchases… Read
Amazon workers hold first UK strike, adding to labor turmoil
Amazon warehouse workers went on strike for the first time in Britain on Wednesday because of a dispute over pay and working conditions, adding to a wave of industrial labor action across the country fueled by the soaring cost of living. Union members voted to walk off the job for… Read
Elon Musk's tweeting style seizes spotlight in Tesla trial
Tesla CEO Elon Musk's impulsive and sometimes inflammatory usage of Twitter took center stage Wednesday in a trial focused on whether he misled investors with his 2018 tweets indicating he had lined up financing to take the electric automaker private, a proposal that rapidly unraveled. The spotlight on Musk's tweeting… Read
Asia shares trading mixed, China markets closed for holidays
Asian shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. Shares rose in Tokyo and Seoul, but fell in Sydney and Mumbai. Markets were closed in Hong Kong and Shanghai for Lunar New Year holidays. Australia reported higher than… Read
Toranomon Hills Station Tower to open in Tokyo in autumn
Leading urban landscape developer Mori Building Co Ltd announced Tuesday that the 49-story Toranomon Hills Station Tower will open in the autumn. With the birth of Toranomon Hills Station Tower, which currently is being thoroughly integrated with Toranomon Hills Station, the entire Toranomon Hills area, which has been expanding and… Read
China's Huawei looks to ports, factories to rebuild sales
As technicians in a distant control room watch on display screens, an automated crane at one of China's busiest ports moves cargo containers from a Korean freighter to self-driving trucks in a scene tech giant Huawei sees as its future after American sanctions crushed its smartphone brand. The backbone of… Read
Musk defiantly defends himself in Tesla tweet trial
Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted. Musk spent roughly three more hours on the stand during… Read
Twitter faces lawsuits over unpaid rent for HQ offices in U.S., UK
More landlords are taking Twitter to court over unpaid rent, this time at the social media company’s headquarters in San Francisco and its British offices — the latest sign that owner Elon Musk's extreme cost-cutting strategy includes simply not paying the bills. Twitter is facing a lawsuit over allegations it… Read
Asian shares rise; track Wall St gains as earnings ramp up
Stocks were higher in Asia on Tuesday after a tech-led rally on Wall Street as investors bet the Federal Reserve will trim its rate hikes to tamp down inflation. Many markets in the region were closed for Lunar New Year holidays. A preliminary reading for manufacturing in Japan remained steady… Read
