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In the coming days, Japanese corporation Sony will close its plant for the production of smartphones in Beijing. Production will be transferred to the company's plant in Thailand. According to Reuters, Sony expects to cut costs 2 times, which, according to company management, will allow the smartphone manufacturing business to reach a profitable level in the next fiscal year, which begins in April 2020. Despite the fact that Sony’s global smartphone market share has shrunk to 1%, and many experts believe that the company needs to sell this business, it does not plan to sell it, since, according to its estimates, their smartphones will be instrumental in the fifth generation of wireless technologies.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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