Asia-Pacific markets mostly rise as investors digest Fed’s smaller quarter-point hike

Signs of ‘sequential acceleration’ in Hong Kong despite economy contraction in 2022: UBP Hong Kong’s economy is “in a position to return to expansion,” this year, UBP told CNBC’s “Squawk Box Asia” on Thursday. “We are seeing signs that there’s been a sequential acceleration in January. So that’s the good news,” said Carlos Casanova, UBP’s … Read more

Fed rate hike in February 2023

Powell says Fed hasn’t hit a ‘sufficiently restrictive policy stance’ just yet Despite the Federal Reserve’s aggressive rate hiking campaign, the central bank has more work to do, according to Fed Chair Jerome Powell. “I would say that our focus is not on short term moves but on sustained changes to broader financial conditions,” he … Read more

Samsung Galaxy S23 smartphone lineup to take on Apple’s iPhone 14

Samsung announced its flagship Galaxy S23 smartphone lineup on Wednesday. Samsung Samsung on Wednesday launched its latest lineup of flagship Galaxy smartphones, touting a better camera and enhanced gaming features as the South Korean tech giant tries to tempt people to upgrade amid weak macroeconomic conditions and waning consumer demand. The Galaxy S23 smartphone lineup … Read more

Peloton (PTON) Q2 earnings 2023

Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey. Michael Loccisano | Getty Images Platoon said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscription revenue was higher than sales of the company’s connected fitness products. CEO Barry McCarthy … Read more

How Asia’s richest man lost his crown in just a few days

Gautam Adani, billionaire and chairman of Adani Group, during an event at the Port of Haifa in Haifa, Israel, on Tuesday, Jan. 31, 2023. Adani, the Indian billionaire whose business empire was rocked by allegations of fraud by short seller Hindenburg Research, said his company will make more investments in Israel. Bloomberg | Bloomberg | … Read more

AMD delivers a Q4 beat amid industry headwinds

Advanced Micro Devices (AMD) reported a fourth-quarter earnings beat Tuesday, despite ongoing weakness in the PC market, demonstrating the semiconductor firm has the wherewithal to continue to grow and nab market share. Revenue jumped 16% year-over-year, to $5.599 billion, beating analysts’ expectations for $5.5 billion, according to estimates compiled by Refinitiv. Adjusted earnings-per-share (EPS) fell … Read more

Google testing ChatGPT-like chatbot ‘Apprentice Bard’ with employees

A man walks through Google offices on January 25, 2023 in New York City. Leonardo Munoz Corbis News | Getty Images Google is testing new artificial intelligence-powered chat products that are likely to influence a future public product launch. They include a new chatbot and a potential way to integrate it into a search engine. … Read more

General Motors expects to boost EV production in the second half

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – When General Motors launched the GMC Hummer EV … Read more

Cramer’s 10 things to watch in the market Tuesday: Dow, iPhones, JNJ

My top 10 things to watch Tuesday, Jan. 31 1. Will the outperformance of speculative stocks continue? The market’s worst performers of 2022 — including crypto, SPACs and cloud software stocks — are some of the biggest winners in this year’s rally. Stay away. As I wrote Sunday, I see this as a moment to … Read more

Long Covid has ‘underappreciated’ role in labor gap: study

Simpleimages | Moment | Getty Images Long Covid is keeping people out of work and may reduce on-the-job productivity for others, contributing to a labor shortage and weighing on the US economy at large, according to a new study. Long Covid — also known as long-haul Covid, post-Covid or post-acute Covid syndrome — is a … Read more