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Chile's largest steelmaker suspends production, blames China
Chile's largest steel plant announced on Wednesday that it had suspended operations because it could not sustain itself financially, despite new tariffs on Chinese steel meant to protect local production.
Health experts urge Olympics to cut ties with Coca-Cola
Two health experts on Wednesday urged Olympic organisers to cut ties with Coca-Cola, saying the current big money sponsorship deal allows the US company to "sportswash" unhealthy sugary drinks. "It's time for the International Olympic Committee (IOC) to cut ties with Coca-Cola in the interest of athletes, spectators and the planet."
Disney beats quarterly revenue estimates, turns streaming profit
Disney reported Wednesday better revenues than anticipated in the most recent quarter, atop a first profit in its streaming business, while its theme parks came under pressure. Looking ahead, Disney said it is still "on track for the profitability of our combined streaming businesses to improve" in the fourth quarter.
Expect more product placement at Olympics, says IOC
The Olympics is set to feature more and more high-profile product placement in a major departure from the past when brands were kept away from the sport, the International Olympic Committee (IOC) said Wednesday. But no advertising has been allowed on sports fields or at venues, depriving the Switzerland-based IOC of extra revenue.
'Miseries of the Balkhash': Fears for Kazakhstan's magical lake
Seen from the sky, with its turquoise waters stretching out into the desert expanses in the shape of a crescent, you can see why they call Lake Balkhash the "pearl of Kazakhstan". Beijing is a key economic partner for Kazakhstan but it is less keen to collaborate on water issues.
Hong Kong's Cathay unveils deal to buy up to 60 aircraft
Hong Kong carrier Cathay Pacific said Wednesday it would buy up to 60 Airbus A330-900 aircraft as it looks to build on a post-Covid recovery and reach pre-pandemic passenger numbers in the new year.
Music and gaming help Sony hike net profit forecast
Sony raised its annual net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in video games and music, as well as image sensors used in iPhones. Yasuo Nakane of Mizuho Securities said before the earnings announcement that Sony could log a record high profit this year for its image sensors.
Swiss mining giant Glencore drops plan to exit coal
Swiss commodities giant Glencore announced Wednesday that it had decided against spinning off its coal business for now after consulting shareholders who view the polluting fossil fuel as a cash-generating activity. The Swiss mining and commodities trading group had considered merging the newly acquired business, Elk Valley Resources, with its own coal activities and spinning it off.
Sony hikes annual net profit forecast after solid Q1
Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors. Sony may also see record profits next year in the gaming sector under new leadership, he said in a recent note.
AFP
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