Franco-Italian chip maker STMicroelectronics, which supply Apple and Tesla, increased its operating profit by 38% in the third quarter to $398 million, finversia.ru writes, citing company reporting. Net quarterly revenue was $2 billion 520 million, up 11.2%. Nevertheless, the company's message about the decline in demand for its products in China caused a decline in the company's shares by 8.6% to 13:01 Moscow time. According to the company's estimates, in 2018 its revenue will grow by about 16%, and it expects to complete the fourth quarter with revenue growth of 5.7%.
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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...