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Chinese video streaming platform iQIYI swings to Q2 loss as advertisers adjust strategies
OverviewiQIYI Q2 revenue falls 11% yr/yr to RMB6.63 bln ($925.3 mln)Company reports operating loss of RMB46.2 mln, reversing last year's profitNet loss attributable to iQIYI is RMB133.7 mln, compared to net income last yearResult DriversLIGHTER CONTENT SLATE - Membership services revenue fell 9%...Reuters
Wed, Aug 20
Pope Leo calls for day of fasting, prayers for peace in Ukraine on Friday
VATICAN CITY, Aug 20 (Reuters) - Pope Leo has asked Catholics and other religious faithful to observe a day of fasting and prayers for peace in Ukraine and other war-torn countries on Friday, August 22."As our Earth continues to be wounded by wars in the Holy Land, in Ukraine, and in many other ...Reuters
Wed, Aug 20
China's Baidu misses quarterly revenue estimates
Aug 20 (Reuters) - Chinese search engine giant Baidu 9888.HK, BIDU.O fell short of market estimates for quarterly revenue on Wednesday, signaling persistent weakness in the advertising market amid prolonged economic uncertainty.The company reported total revenue of 32.71 billion yuan ($4.56 billion...Reuters
Wed, Aug 20
Thailand says has $800 million budget to ease U.S. tariff, border conflict impact
BANGKOK, Aug 20 (Reuters) - Thailand has a budget of 26 billion baht ($800 million) to soften the impact of U.S. tariffs and the border conflict with Cambodia, Finance Minister Pichai Chunhavajira said on Wednesday. Thailand and the United States will hold talks this week on regional value-content r...Reuters
Wed, Aug 20
REFILE-China private equity secondary deals to surge on rising supply, cheaper valuations
Yuan-denominated PE secondary deals value hit record high in H1China assets trading at steeper discounts in secondary trades Improved market sentiment should be conducive to secondary dealsBy Kane WuHONG KONG, Aug 20 (Reuters) - Secondary trades of private equity assets in China are poised to accele...Reuters
Wed, Aug 20
China-based ATRenew's Q2 revenue jumps 32.2%
OverviewATRenew Q2 revenue grows 32.2% yr/yr to RMB4,991.5 mlnIncome from operations turns positive at RMB91.1 mln from a loss last yearCo repurchased 1.6 mln ADSs, announced new $50 mln share repurchase programOutlookCompany expects Q3 2025 revenues between RMB5,050 mln and RMB5,150 mlnATRenew anti...Reuters
Wed, Aug 20
Online brokerage firm Futu Holdings Q2 revenue rises 69.7%
OverviewFutu Q2 revenue rises 69.7% yr/yr to HK$5.31 blnNet income increases 112.7% yr/yr to HK$2.57 blnTotal trading volume up 121.2% yr/yr to HK$3.59 trillionOutlookCompany did not provide specific guidance for future quarters or full yearResult DriversINTERNATIONAL EXPANSION - Over half of total ...Reuters
Wed, Aug 20
Saudi Arabia allows private jet operator VistaJet to fly in the kingdom, statement says
DUBAI, Aug 20 (Reuters) - Saudi Arabia's civil aviation authority said on Wednesday it granted permission to VistaJet to conduct domestic flights, making it the first international private jet operator in the kingdom.Reuters
Wed, Aug 20
North Korea dismisses South Korean president's 'gibberish' ahead of US summit
South Korea's Lee to meet Trump next weekLee, Trump align on efforts to engage PyongyangNorth Korea rejects, ridicules diplomatic outreach so farPyongyang emboldened by Russia relations, analysts sayBy Joyce Lee and David BrunnstromSEOUL/WASHINGTON, Aug 20 (Reuters) - North Korea is stepping up ...Reuters
Wed, Aug 20
Nordic postal operators pause shipments to the U.S. as Trump ends parcel tariff relief
STOCKHOLM, Aug 20 (Reuters) - Swedish and Norwegian postal groups PostNord and Posten Bring are pausing shipments to the United States ahead of the scrapping of a U.S. customs tax loophole that allows duty-free entry for low-value parcels, they said on Wednesday. U.S. President Donald Trump's a...Reuters
Wed, Aug 20
Musk quietly puts brakes on plans for new political party, WSJ says
Aug 19 (Reuters) - Billionaire Elon Musk is quietly putting the brakes on plans to start his new political party, telling allies he wants to focus on his companies, the Wall Street Journal said on Tuesday, citing people with knowledge of the plans.Musk, without commenting further on the report, said...Reuters
Wed, Aug 20
Bankrupt jewelry retailer Claire's to sell its North America business
Aug 20 (Reuters) - Fashion jewelry retailer Claire's said on Wednesday it would sell its North America business to private equity firm Ames Watson for an undisclosed amount, as the company aims to cut losses while navigating ongoing U.S. bankruptcy proceedings.The retailer operating more than 2,...Reuters
Wed, Aug 20
Coverage disputes a sign AI risk could be a new class of business: Testudo's Lewin-Smith
By Henry GaleAug 20 - (The Insurer) - Proposed exclusions and coverage disputes related to companies' use of artificial intelligence are signals that the insurance market could start to view AI risk as a new class of business, the founder of a Lloyd's Lab startup focused on insuring AI told ...Reuters
Wed, Aug 20
Chrysler Is Recalling 78,989 U.S. Vehicles - NHTSA
Aug 20 (Reuters) - CHRYSLER (FCA US, LLC) IS RECALLING 78,989 U.S. VEHICLES - NHTSACHRYSLER (FCA US, LLC) IS RECALLING SOME U.S. VEHICLES AS A TPMS WARNING LIGHT THAT FAILS TO NOTIFY THE DRIVER OF A PROBLEM INCREASES THE RISK OF A CRASH.- NHTSASource text: https://tinyurl.com/5dt6u8byReuters
Wed, Aug 20
Former Nokia CEO joining Finnish quantum company's board
STOCKHOLM, Aug 20 (Reuters) - Former Nokia NOKIA.HE CEO Pekka Lundmark will join Finnish quantum computing company QMill as an investor and a board member, the company said on Wednesday.Lundmark stepped down from the top job at Nokia earlier this year after being appointed as CEO in 2020, and is cre...Reuters
Wed, Aug 20
ValueAct Capital Management Owns 9.84% Stake In Takara Holdings, Filing Shows
Aug 20 (Reuters) - Takara Holdings Inc 2531.T:VALUEACT CAPITAL MANAGEMENT OWNS 9.84% STAKE IN TAKARA HOLDINGS, FILING SHOWSSource text: https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100WK0L.pdfReuters
Wed, Aug 20
Rugby-Welsh winger Rees-Zammit felt he was wasting talent during NFL stint
Aug 20 (Reuters) - Louis Rees-Zammit said he felt he was wasting his talent during his NFL stint with the Kansas City Chiefs and Jacksonville Jaguars but has no regrets about pursuing the American football adventure.The Welsh winger signed for Bristol Bears for the 2025-26 Premiership Rugby season o...Reuters
Wed, Aug 20
Alcon cuts 2025 net sales outlook on tariff pressures
Aug 20 (Reuters) - Swiss-American eye-care group Alcon ALCC.S on Tuesday cut its 2025 net sales outlook, saying it expects the impact of U.S. tariffs to persist through the remainder of the year.Alcon, which makes nearly half of its revenue in the U.S., lowered its projected net sales range to $10.3...Reuters
Wed, Aug 20
