ABB warned of slowing Chinese demand, Taiwanese chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health. | Reuters
The comments will unsettle investors, who had hoped that Beijing’s decision to abandon strict and prolonged COVID curbs at the end of last year would revive the world’s second-biggest economy.‘s economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with post-COVID momentum faltering rapidly.
Analysts have warned easing input costs will put pressure on companies to start cutting prices, or they may lose business. Electrolux, Europe’s biggest home appliances maker, swung to a loss as cash-strapped shoppers opted for cheaper products and demand from residential property builders slowed.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese vice president meets U.S. special presidential envoy for climateBEIJING, China -- Chinese Vice President Han Zheng met with U.S. Special Presidential Envoy for Climate John Kerry in Beijing on Wednesday.
Read more »
Bay Area Dragons back in Hong Kong for elite club games against Japan, Korea, Philippines | BusinessMirrorTHE Bay Area Dragons—the new face of Chinese basketball featuring top professional players from Mainland China, Hong Kong, Chinese Taipei and Chinese diaspora—will make Hong Kong its home beginning in August with games being played between October 2023 and March 2024. The Bay Area Dragons, the groundbreaking professional team created…
Read more »
Chinese hackers breach US ambassador's emails –WSJAsked about the reported breach of the two diplomats' accounts, the State Department declines to give any details and says its investigation of the spying operation is ongoing.
Read more »
Congressional panel probes US firms’ investments in ChinaA U.S. House of Representatives committee has launched an investigation into investments by four U.S. venture capital firms into Chinese artificial intelligence and semiconductor companies. | Reuters
Read more »
Made in Russia? Chinese cars drive a revival of Russia’s auto factoriesThe relaunch of a classic Soviet-era car, the Moskvich, by a state-owned company in November was celebrated by Moscow’s mayor as showing the resilience of Russia’s auto industry to Western sanctions. | Reuters
Read more »
K-pop's biggest music label HYBE looks to lift language barrier with AIThe technology enabled HYBE, South Korea&39;s largest music label, to release a track by singer MIDNATT in six languages – Korean, English, Spanish, Chinese, Japanese and Vietnamese in May.
Read more »