Tag Archives: news-cnbc

Nokia phones maker HMD picks up $230 million in new funding from Google, Qualcomm and Nokia 

HMD Global said Tuesday that it would use the fresh capital to invest in the development of 5G smartphones.

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China to sanction Rubio, Cruz, and others over U.S. action on Hong Kong 

The U.S. lawmakers targeted by Beijing on Monday have been vocal critics of a new national security law that expands Beijing’s authority in Hong Kong.

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Lebanon president says investigation will examine possible ‘external interference’ in port blast 

“The cause has not been determined yet. There is a possibility of external interference through a rocket or bomb or other act,” President Michel Aoun told local media.

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U.S. and China set to review phase one trade deal in mid-August 

Senior U.S. and Chinese officials will review the implementation of the phase one trade deal and likely air mutual grievances due to growing tensions in an August 15 video conference, sources told Reuters.

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Massive explosion in Beirut port area rocks Lebanese capital, more than 70 dead 

Prime Minister Hassan Diab said the explosion was caused by an estimated 2,750 tons of ammonium nitrate left unsecured in a warehouse.

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Nokia posts surprise second-quarter profit jump as new CEO takes the helm 

Nokia saw its profits rise 22% to 316 million euros ($376 million) in the second quarter despite quarterly revenues falling 11% to 5 billion euros.

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Apple managed growth in China, helped by ‘record’ iPad and services revenue plus an iPhone bounce 

Apple CEO Tim Cook said that services revenue set a new June quarter record in China. Chief Financial Officer Luca Maestri added that iPad also set a June quarter revenue record in Greater China.

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Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown 

Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.

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Deutsche Bank posts earnings beat as restructuring continues amid the pandemic 

Deutsche Bank on Wednesday reported a net loss attributable to shareholders of 77 million euros ($90.3 million) for the second quarter, beating analyst expectations.

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Former Malaysian PM Najib Razak sentenced to 12 years in jail, fined $50 million over 1MDB scandal 

The charges include three counts of money laundering, three counts of criminal breach of trust and one count of abuse of power.

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Rising coronavirus infections risk a ‘W-shaped’ recovery, economists warn 

Rising coronavirus infections in large economies such as the U.S., Brazil and India have underlined the fragility of the economic rebound and increased the risk of a “W-shaped” recovery, according to economists at research firm IHS Markit.

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Zimbabwe could be headed for political upheaval as economic and health crises spiral 

With security forces having seized control of economic and financial policy at a time of shrinking GDP and skyrocketing inflation, Zimbabwe is facing its worst crisis in more than a decade.

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An Indian tech giant that’s raised $20 billion from the likes of Google and Facebook is working on a mixed reality headset 

India’s Jio has announced it is working on a mixed reality headset called Jio Glass after raising billions from companies like Google and Facebook.

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Hospitals look to resume normal operations, but patients still fear seeking care 

While normal hospital operations look set to resume, patients remain concerned about seeking care but analysts are optimistic for a recovery in elective procedures post-coronavirus.

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U.K. economy grew less than expected in May as coronavirus lockdowns began easing 

Official figures revealed that monthly GDP came in at 1.8% in May. It followed a 20.4% monthly contraction in April, the country’s sharpest on record.

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