Alibaba posts solid revenue ahead of shopping festival

SHANGHAI (AFP) -- Chinese e-commerce leader Alibaba on Thursday reported solid 30 percent year-on-year revenue growth for the July-September quarter, providing some much-needed good news amid turmoil over its Ant Group affiliate's abandoned IPO. Hangzhou-based Alibaba said revenue -- a key measure of the internet giant's business health as well as overall Chinese consumer spending -- rose to 155 billion yuan ($23 billion).The announcement comes ahead of China's November 11 "Single's Day&qu

Nov. 5, 2020

EU cuts 2021 economic outlook as virus spreads

BRUSSELS (AP) -- The European Union's executive commission on Thursday lowered its growth forecast for the economic rebound from the coronavirus pandemic next year and said the economy wouldn't reach pre-virus levels until 2023. The regular autumn forecast foresees the economy of the 19 countries that use the euro growing only 4.2 percent in 2021 instead of the previous estimate of 6.1 percent. The downgrade comes as governments record increasing numbers of infections, sick people in hos

Nov. 5, 2020

World markets, Wall Street futures rise on US election day

BEIJING (AP) -- Global stock markets and US futures rose Tuesday on investor hopes that a possible victory by challenger Joe Biden in the American presidential election might lead to more economic stimulus. Dow futures were up 1.6% while those for the S&P 500 were 1.3 percent higher ahead of the start of trading on Wall Street. European indexes were up firmly in midday trading, while Asian markets closed higher. Traders are betting Biden might push for a bigger US stimulus package if

Nov. 3, 2020

Global watchdog proposes tax overhaul for Big Tech

LONDON (AP) -- A global economic watchdog on Monday proposed an overhaul of international tax rules to make sure big tech companies pay their dues, and warned that failure to adopt it would make the economic recovery from COVID-19 harder. The Paris-based Organization for Economic Cooperation and Development, which advises the world's top economies, said its global tax overhaul framework will be presented to Group of 20 finance ministers meeting this week and could be implemented by mid-2021 if

Oct. 12, 2020

Global shares rise with US stimulus, virus cases in focus

TOKYO (AP) -- Global shares mostly rose on Monday as investors weighed the prospects of more US economic stimulus and rising coronavirus cases across the world. US shares were set for a steady outset to the week, with Dow futures rising 0.1 percent and S&P 500 futures up nearly 0.6 percent. France's CAC 40 rose 0.8 percent to 4,985, while Germany's DAX rose 0.6 percent at 13,126. Britain's FTSE 100 added 0.1 percent to 6,024 after European Union officials say they finally are seeing progr

Oct. 12, 2020

Amazon envisions new palm reading tech in stadiums, offices

SEATTLE (AP) -- Amazon has introduced new palm reading technology in a pair of Seattle stores and sees broader uses in places like stadiums and offices. Customers at the stores near Amazon's campus in Washington can flash a palm for entry and to buy goods. The company chose palm recognition, according to Dilip Kumar, vice president of Physical Retail & Technology, because it's more private than other biometric technology, and a person would be required to purposefully flash a palm at the

Sept. 29, 2020

[Graphic News] Global views on economy turn sharply negative

　Public attitudes about the economy have become bleaker as the coronavirus pandemic continues to weigh globally, according to a Pew Research Center survey released recently. 　Overall, a median of only 31 percent of adults across the surveyed nations assess their country’s current economic situation as good, while more than two-thirds say conditions are bad. 　In Germany, while the majority continue to view the economy positively, the percentage who view it negatively has more than dou

Sept. 10, 2020

GM to make electric vehicle, supply batteries for Nikola

General Motors formed its second major electric vehicle partnership in less than a week, this time a $2 billion deal with startup Nikola. GM will take an 11 percent ownership stake in the Phoenix company and will engineer and build Nikola's Badger hydrogen fuel cell and electric pickup truck. The Badger is expected to be in production by the end of 2022. GM also will help with cost reductions for Nikola's other vehicles including heavy trucks, and the company will use GM's battery system and

Sept. 8, 2020

[Graphic News] LG Chem becomes No. 1 EV battery supplier in 2020

　LG Chem became the largest supplier of electric vehicle batteries in the first seven months of this year, data showed. 　Based on the global usage of EV batteries, LG Chem’s market share stood at 25.1 percent in the January-July period, compared with 10.6 percent a year earlier, according to market tracker SNE Research. 　The data showed that 13.4 gigawatt-hours of energy from LG Chem’s EV batteries was used in the January-July period, compared with 6.8 gigawatt-hours a year ear

Sept. 8, 2020

Germany sees strong economic rebound, no second virus lockdown

FRANKFURT AM MAIN (AFP) -- Germany is in a V-shaped economic recovery and should avoid a new phase of lockdowns, the economy minister said Tuesday, despite a resurgence of coronavirus cases. German GDP is expected to fall 5.8 percent in 2020, a narrower recession than the 6.3 percent drop projected earlier, Peter Altmaier said, signalling that the country is emerging from the worst of the crisis. Altmaier said Germany "can and will" avoid lockdowns like Germans lived through in Mar

Sept. 1, 2020

Tesla announces plans to sell up to $5b in new stock shares

DETROIT (AP) -- A day after its 5-for-1 stock split took effect, Tesla is announcing plans to sell up to $5 billion worth of common shares. The electric car and solar panel maker says in a filing with securities regulators that it intends to sell up to 10.03 million shares and use the proceeds for unspecified general corporate purposes. The sales would be made "from time to time" and Tesla says the actual amount of the offering can't be determined at present. The stock would be so

Sept. 1, 2020

[Graphic News] Samsung maintains No. 1 spot in global DRAM market in Q2

　Samsung Electronics maintained its dominant status in the global DRAM market in the second quarter of the year, a report showed, as the pandemic drove demand for server chips. 　The South Korean tech giant’s market share in the global DRAM market stood at 43.5 percent in the April-June period, down 0.6 percentage point from three months earlier, while its revenue increased 13.8 percent to $7.4 billion over the cited period, according to data from market researcher TrendForce. 　Its

Aug. 27, 2020

[Graphic News] PC sales climb as virus keeps consumers at home

　PCs, somewhat left behind in the mobile internet age, are making a comeback as people stuck at home due to the coronavirus rely on them for work, education and entertainment, industry watchers say. 　Gartner and International Data Corp. reports show shipments of desktop computers, laptops and workstations grew in the second quarter as pandemic-related disruptions to the supply chain were overcome. 　IDC determined that PC shipments worldwide jumped 11.2 percent to 72.3 million units on the

July 16, 2020

[Graphic News] Amazon becomes world’s most valuable brand

　Amazon has overtaken Apple as the world’s most valuable brand, according to global market research conducted by Kantar. 　The report, titled 2019 Top BrandZ, claims the value of the e-commerce giant’s brand grew to $415 billion. 　Apple came second, valued at $352 billion, with Microsoft in third place at $326 billion 　South Korea’s Samsung had the 40th biggest value at almost $32 billion.

July 15, 2020

[Graphic News] Global shipbuilding orders at historic low in H1

　New orders of ships worldwide fell to a historic low in the first half of the year amid the coronavirus pandemic, industry sources said. 　In the January-June period, global new shipbuilding orders totaled 5.75 million compensated gross tons, or a total of 269 ships, according to data provided by global market researcher Clarkson Research Service. 　The tally is the lowest since 1996, when the market tracker began to compile related data, and a 42 percent drop from the previous year, the

July 10, 2020

[Graphic News] Samsung dominates US 5G smartphone market in Q1

　Samsung Electronics dominated the 5G smartphone market in the United States in the first quarter of the year, a report showed. 　Samsung’s Galaxy S20 series, which was unveiled in February, made up 94 percent of the US 5G smartphone market in the January-March period, according to market tracker Strategy Analytics, with the S20 Plus being the bestselling model. 　The midtier S20 Plus accounted for 40 percent, followed by the high-end S20 Ultra with 30 percent and entry-level S20 at 2

June 11, 2020

[Graphic News] NCSoft ‘s Lineage 2M highest grossing app on Google Play Store

　Lineage 2M, a mobile massively multiplayer online role-playing game by Korean online game maker NCSoft, was the highest grossing app on the Google Play Store during the first quarter of the year, industry data showed. 　The mobile version of mega-hit Lineage II was the most popular app in the world on Android platforms during the January-March period, partly on the back of the novel coronavirus pandemic that confined people to their homes, data from analytics firm App Annie showed. 　The mo

June 5, 2020

[Graphic News] S. Korea’s GDP ranks 10th worldwide in 2019

　South Korea’s gross domestic product ranked 10th in the world in 2019, down two notches from the previous year, data showed. 　Asia’s fourth-largest economy registered $1.64 trillion in nominal GDP last year, according to the data from the Organization for Economic Cooperation. 　It marked South Korea’s first ranking drop since the 2008 global financial crisis. The OECD analyzed 38 advanced and emerging economies. 　The United States topped the global GDP list with $21.43

June 2, 2020

[Graphic News] US video game industry sees record April sales: survey

　Spending on video games in the US jumped to a new April record as locked-down consumers sought refuge in playing games, industry figures showed. 　A total of $1.5 billion was spent on video game hardware, software, accessories and game cards, eclipsing a previous April high of $1.2 billion spent in the US in 2008, according to NPD analyst Mat Piscatella. 　April was the first full month of tight restrictions on people’s movements in the US to prevent the spread of the deadly novel cor

May 28, 2020

[Graphic News] Apple dominates global smartwatch market

　Apple again commanded a majority share of the smartwatch market in the first quarter, when the COVID-19 outbreak encouraged health tracking and drove a 20 percent rise in shipments. 　Global smartwatch shipments reached 13.7 million units in the first three months of this year, defying a worldwide slump in consumer electronics arenas such as mobile phones. Apple’s share inched up a percentage point to 55.5 percent, according to Strategy Analytics. 　Samsung Electronics was second with

May 14, 2020