Major Wall Street indices surged to fresh records on Wednesday after the Federal Reserve reaffirmed plans for interest rate cuts in the coming months, cheering investors who had feared a retreat.The US central bank as expected opted to keep interest rates unchanged for a fifth...
US banking giant Bank of America plans to relinquish a big chunk of prime office space in Hong Kong as part of cost-saving measures in response to the headwinds facing the financial industry.Bank of America will hand back around one and a half floors in...
Apple chief executive Tim Cook on Wednesday met Chinese video game developers, a filmmaker and the billionaire founder of BYD in Shanghai, ahead of the company’s new store opening in the city, as the US tech giant goes on a charm offensive amid weak iPhone...
Hong Kong and China Gas (Towngas) said it is under pressure to raise tariffs to keep up with rising costs and investments, after the city’s sole piped-gas supplier posted higher-than-expected profit.“We do face pressure to lift gas tariffs this year as we need to invest...
Ukraine sympathizers carry placards and fly a Ukrainian flag outside the U.S. Capitol building as the Senate works through the weekend on a $95.3 billion foreign aid bill with assistance for Ukraine and Israel on February 11, 2024 in Washington, DC. Roberto Schmidt | Getty ImagesUkraine...
For the seventh year in a row, Finland has landed the top spot on the World Happiness Report's annual ranking of the happiest countries in the world.Countries are ranked according to self-assessed life evaluations and answers to the Cantril ladder question which asks respondents to...
The Hong Kong Monetary Authority (HKMA) has asked the public to be vigilant of schemes falsely claiming to be involved in its e-HKD pilot projects, as the city conducts a series trials on the feasibility of a central bank digital currency (CBDC) as part of...
Discount e-commerce giant PDD Holdings beat estimates for fourth-quarter revenue, driven by robust user growth and sales at its global platform Temu.PDD on Wednesday reported revenue of 88.88 billion yuan (US$12.35 billion) for the three months to December 31, compared with an average analyst estimate...
Chinese artificial intelligence company Moonshot AI claims that its Kimi chatbot can now handle up to 2 million Chinese characters in a single prompt – the instruction or query a user enters into the interface of a ChatGPT-like service – to surpass the capabilities of...
For the full year, Tencent posted a net income of 115.2 billion yuan, down 39 per cent from 2022 and missing expectations of 123.5 billion yuan. Annual revenue grew 10 per cent to 609 billion yuan, slightly below analysts’ estimates of 612.7 billion yuan.Pony Ma...