Economy
Asian stocks rise on earnings optimism as US data approaches
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity. General Electric, Spotify, and diaper and paper product brand Kimberly-Clark were among the companies posting strong gains after releasing quarterly reports.
Tesla profits tumble but shares rise on new vehicle plan
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting. Tesla is committed to "company-wide cost reduction" as part of an effort to achieve "profitable growth," it said.
Starbucks set for talks with unionized US stores
Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday. "This is a positive step toward achieving our December goal of reaching ratified contracts for represented stores in 2024."
French police union threatens to disrupt Olympics relay
A French police trade union threatened Tuesday to disrupt the Olympics torch relay ahead of the start of the Paris Games this July unless officers were given bonuses. The Alliance union said that the French prime minister's office and economy ministry were holding up special Olympics payments promised to police of as much as 1,900 euros ($2,032).
French air traffic controller strike threatens flight chaos
French air traffic controllers are to stage a one-day strike Thursday that risks seeing most flights cancelled at the two main Paris airports, France's leading aviation association warned Tuesday. He said 75 percent of flights could be cancelled at Paris Orly airport and 65 percent at Charles de Gaulle, the capital's main airport.
Milei announces Argentina's first budget surplus in 16 years
Argentina's spending-slashing new President Javier Milei has hailed his country's first quarterly budget surplus since 2008 as an "historic achievement." This amounted to a surplus of 0.2 percent of GDP. "This is the first quarter with a financial surplus since 2008," said Milei, referring to his left-wing rival Cristina Kirchner's first year in the presidency.
FG begins sharing N200bn to small business owners, manufacturers in Nigeria, lists ways to apply
The federal government of Nigeria has said it will begin the disbursement of N200 billion to small businesses and manufacturers across the country.
General Motors lifts 2024 profit forecast after strong Q1
General Motors reported higher profits Tuesday thanks to continued strength in North America that offset a loss in its China business, enabling the carmaker to lift its forecast. GM's strength in its home market helped offset an operating loss of about $100 million in GM's China operation.
New US home sales pick up in March
Sales of new homes across the United States increased sharply last month, according to fresh government data published Tuesday, though February's numbers were revised lower. "Home sales surprised to the upside in March," High Frequency Economics chief US economist Rubeela Farooqi wrote in a note to clients, adding: "The data can be volatile month-to-month and subject to revision."
Economy
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