25 minutes ago
EU launches investigation into Meta, Apple and Alphabet
The European Union announced on Monday that it had opened an investigation into the Apple, Alphabet and Meta platforms under a new digital markets law.
“Today, the European Commission launched a non-compliance investigation under the Digital Markets Act (DMA) regarding Alphabet’s rules regarding Google Play operations and self-prioritization in Google Search, as well as its App Store operations and Safari selection screen. Apple’s rules and Meta’s ‘pay or consent model’,” the European Commission said in a statement.
The stock prices of the three companies fell slightly in the previous session.
— Fred Imbert
6 hours ago
Malaysian inflation accelerates for first time since August 2022
Malaysian headline inflation Interest rates rose for the first time since August 2022 to 1.8% compared to 1.5% in January.
Economists polled by Reuters had expected the inflation rate to be 1.4%.
On a month-on-month basis, Malaysia’s inflation rate was 0.5%, up from 0.2% in January.
— Lim Huijie
7 hours ago
Meituan stock price soars to near four-month high on increased sales
Meituan food delivery company in Beijing, China, Tuesday, August 22, 2023. The expected sales surge for Meituan, which has outperformed its peers, could be a catalyst as services spending proves to be a rare bright spot. Investors’ pessimism is deepening.Source: Bloomberg
Bloomberg | Bloomberg | Getty Images
Hong Kong-listed shares of Chinese food delivery company Meituan soared 9.6% to HK$96.80, the highest since late November.
of Company reported revenue Fourth-quarter sales were 73.7 billion yuan ($10.31 billion), an increase of 22.6% year-on-year.
The company’s annual sales were 276.7 billion yuan ($38.44 billion), an increase of 26% from the previous year.
“We will continue to increase investment in China’s consumer market and technology research and development,” the company said.
— Shreyashi Sanyal
10 hours ago
Japan’s foreign exchange official says weak yen “does not reflect fundamentals”
Masato Kanda, a leading expert on Japan’s currency diplomacy, says the current depreciation of the yen does not reflect fundamentals. Reuters reported.
The yen has fallen steadily over the past two weeks even as the Bank of Japan moved to raise interest rates and scrapped its yield curve control policy. The yen has surpassed the psychological level of 150 yen against the dollar and is currently trading at 151.28 yen.
According to a Reuters report, Karita told reporters that the depreciation of the yen based on speculative movements is having a negative impact on the economy.
However, Kanda said that he has not considered a specific level of exchange.
12 hours ago
Stock futures trading remains largely unchanged
Stock futures opened slightly mixed Sunday evening.
The futures market, which tracks the Dow Jones Industrial Average, fell 33 points (about 0.1%). S&P futures fell less than 0.1%, while Nasdaq 100 futures remained essentially flat.
Last week, all three major indexes closed at new highs.
— Peer Singh
