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POWERED by Chinese smartphone users splurging billions on mobile games and online shopping, tech giants Tencent and Alibaba are racing up the elite league of the world’s most valuable companies. Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the US$500 billion league last week — briefly overtaking Facebook as the world’s fifth biggest company by market value. ...
BLACK Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms. US retailers raked in a record US$7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions ...
BRITAIN slashed its growth forecasts for its Brexit-bound economy and expects to borrow sharply more going into the next decade, finance minister Philip Hammond said yesterday as he delivered a gloomy budget statement in parliament. Slower economic growth will mean lower tax revenues, giving Hammond little room for the bold moves that many in his Conservative Party — still smarting from an election mauling in June — are demanding to help ...
SHANGHAI'S economy grew steadily in October as industrial output, consumer prices and foreign trade all rose. The city’s foreign trade in October jumped 14.3 percent from a year earlier to 266.08 billion yuan (US$ 40.22 billion), reversing a 5.7 percent drop in the same month last year, according to Shanghai Statistics Bureau. Imports surged 18 percent to 154.65 billion yuan while exports rose 9.6 percent to 111.43 billion yuan compared ...
The growth of China’s industrial output, retail sales and fixed-asset investment slowed in October and missed market expectations, signaling that economic growth is expected to ease in the fourth quarter. Value-added industrial output, an important contribution to gross domestic product, grew 6.2 percent year on year last month, 0.6 percentage points slower than in September, the National Bureau of Statistics said yesterday. The ...
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