China producer prices turn negative in warning sign for global economy

China producer prices turn negative in warning sign for global economy

SINGAPORE – Prices charged by Chinese companies at the factory gate registered their first annual decline in nearly two years, another depressing signal for the global economy, as bulging inventories and cautious consumers in the West hit overseas demand for Chinese-made goods. Chinese producer prices fell 1.3% in October from a year earlier, the National … Read more

Treasury chief Janet Yellen heads to India as US seeks to deepen ties

Treasury chief Janet Yellen heads to India as US seeks to deepen ties

Treasury Secretary Janet Yellen’s trip to India this week will be the latest attempt by the Biden administration to look past the new power’s longstanding ties to Russia and deepen a relationship it hopes will serve as a counterweight to China. The US has changed its approach to India since the invasion of Ukraine began, … Read more

Nvidia offers alternative chip to China to remove US export barriers

Nvidia offers alternative chip to China to remove US export barriers

HONG KONG— Nvidia corp. NVDA 1.02% has begun offering an alternative to a high-end chip hit by US export restrictions to customers in China after the new rules threatened to cost the US company hundreds of millions of dollars in lost revenue. Nvidia said the new graphics processor chip, branded A800, meets US restrictions on … Read more

Airbnb details Roadmap to lower cloud costs

Airbnb details Roadmap to lower cloud costs

Moving by Airbnb Inc. lowering its cloud storage costs in the run-up to its December 2020 IPO has made it better prepared for the possibility of an economic downturn, the home-sharing company said. Analysts say its efforts offer a template for other companies looking to get a handle on spending as more IT shifts to … Read more

China’s exports are falling sharply as the global economy slows

China’s exports are falling sharply as the global economy slows

SINGAPORE – China’s exports to the rest of the world unexpectedly shrank in October, a sign that global trade is in sharp retreat as consumers and businesses cut spending in response to aggressive moves by central banks to tame inflation. The drop in exports from the world’s factory floor adds to the gloom surrounding the … Read more

Amazon sweetens prime deals like grow stalls

Amazon sweetens prime deals like grow stalls

Amazon.com Inc.’s The move to greatly expand its music catalog for Prime members aims to give the popular subscription program a boost, along with rivals like Walmart Inc. WMT 0.18% has achieved faster delivery times and added new features to subscriptions. The tech giant revealed last week that it is expanding the free tier of … Read more

Amazon sweetens prime deals like grow stalls

Amazon sweetens prime deals like grow stalls

Amazon.com Inc.’s The move to greatly expand its music catalog for Prime members aims to give the popular subscription program a boost, along with rivals like Walmart Inc. WMT 0.18% has achieved faster delivery times and added new features to subscriptions. The tech giant revealed last week that it is expanding the free tier of … Read more

Apple and Google shares just had their worst week in more than two years

Apple and Google shares just had their worst week in more than two years

The shares of Apple Inc. and Alphabet Inc. both suffered their biggest weekly declines since the start of the pandemic this week as Big Tech companies continued to draw closer scrutiny from Wall Street. Apple’s stock AAPL, -0.19% ended down 11.2% for the week, its worst weekly performance since the week ended March 20, 2020, … Read more

Elon Musk says Twitter has seen a massive drop in revenue as layoffs begin

Elon Musk says Twitter has seen a massive drop in revenue as layoffs begin

Elon Musk ended his tumultuous first week as owner of Twitter Inc. by making sweeping cuts while complaining that advertisers have cut their ad spending on the platform over concerns about how he will handle content moderation. Musk blamed what he called “a massive drop in revenue” on “activist groups pressuring advertisers.” He said in … Read more

Hershey Raises Guidance After Third-Quarter Sales Rise 13%

Hershey Raises Guidance After Third-Quarter Sales Rise 13%

Hershey co. HSY -1.32% raised its guidance for the year after reporting a 13% rise in third-quarter sales on higher-than-expected demand for its snacks and sweets despite rising prices. The maker of Reese’s peanut butter cups and Twizzlers candy said Friday that higher prices helped it offset higher supply chain costs and advertising spending, the … Read more