The EU on Thursday hit Chinese-founded shopping platform Temu with a probe over concerns the site is doing too little to stop the sale of illegal products, in an investigation that could lead to large fines.Extremely popular in the European Union despite having entered the continent’s market only last year, Temu has on average around …
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European and Asian stocks were mostly down Thursday following a weak lead from Wall Street, as investors digested mixed company earnings and remained risk-adverse ahead of a coin-toss US election.Investors will also be eyeing US personal consumption expenditures data — the Federal Reserve’s prefered inflation measure — released later in the day for signals about …
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Hong Kong’s economic growth in the third quarter missed analyst estimates as private consumption weakened, according to government figures released Thursday.Real gross domestic product (GDP) between July and September grew by 1.8 percent year-on-year, well down from a forecast of 3.1 percent growth from economists surveyed by Bloomberg.Hong Kong’s economic recovery after the pandemic has …
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South Korea’s Samsung Electronics said Thursday that its operating profits soared 277 percent on-year to $6.6 billion but missed expectations as it struggled to leverage demand for chips used in artificial intelligence servers.The world’s largest memory chip maker posted an operating profit of 9.18 trillion won ($6.6 billion) “largely due to one-off costs”.It also warned …
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Asian stocks were mostly down on Thursday following a weak lead from Wall Street, though better-than-expected manufacturing data from China provided a glimmer of good news for local markets.The three main US stock indices lost ground on Wednesday, and Asian investors appeared to be in a risk-averse mood ahead of a coin-toss US election and …
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