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Tencent Suspends Sales On Its NFT Platform Huanhe A Year After Its Introduction Due To Mounting Criticisms

Tencent Holdings' non-fungible token (NFT) platform Huanhe will no longer distribute digital collectibles to the public, the company announced on Tuesday, as regulatory scrutiny of NFTs grows in China.   Huanhe, which was officially launched in early August, would no longer be releasing new...

Mizuho Securities Of Japan Plans To Expand And Grow In The United States

Mizuho Securities Co, the brokerage arm of Mizuho Financial Group, has "space for future growth" in the United States, and acquisitions are one possibility under consideration, according to CEO Yoshiro Hamamoto.   Its US business, which mostly consists of investment banking and trading,...

Qantas Is Expanding Its Freight Fleet In Australia To Accommodate The Demand For Online Shopping

Qantas Airways of Australia announced on Monday that it would add six Airbus SE A321 converted freighters to its domestic fleet to replace five ageing Boeing Co 737s and enhance capacity to meet an increase in demand from online shopping.   The A321 freighters will be sourced on the open...

Saudi Aramco's Earnings Skyrockets Because To Rising Pricing And Refining Margins

The state owned oil company of Saudi Arabi - Saudi Aramco posted its greatest quarterly profit since going public in 2019, bolstered by increased oil prices and refining margins, on Sunday.   Aramco follows oil majors such as Exxon Mobil Corp and BP in reporting strong or record-breaking...

Wide-Body Aircraft Demand Is Reviving As The Boeing 787 Returns To The Fray

Boeing Co.'s 787 Dreamliner has returned to the global market for freshly delivered aircraft at a time when demand for wide-body jetliners is gradually reviving after a lengthy decline.   On Wednesday, Boeing delivered its first Dreamliner since May 2021, marking a key milestone for the...

Mazda Is Attempting To Lessen Its Reliance On Chinese Sources Following COVID Lockdowns

Mazda Motor Corp of Japan stated on Friday that following COVID-19 lockdowns in Shanghai disrupted supplies and hampered production, it will ask its parts suppliers to expand stocks in Japan and create components outside of China.   The request from the Hiroshima-based manufacturer...

Daimler Truck Plans To Keep Pricing High In 2023

Daimler Truck will maintain high prices even if certain costs begin to decline in order to compensate for reduced profits since last year, the truckmaker said on Thursday, anticipating solid demand into 2023 despite recession fears.   Energy prices, supply chain bottlenecks in China, and...

Disney Surpasses Netflix In Streaming Users, Raises User Prices

Walt Disney Co surpassed Netflix Inc in total streaming consumers with 221 million and said that it will raise pricing for customers who wish to watch Disney+ or Hulu without advertisements.   In December, when it begins to offer a new option that includes commercials at the existing price,...

Lenovo Of China Reports The Worst Revenue Growth In Nine Quarters Due To The PC Slowdown

Lenovo Group of China reported its smallest revenue rise in nine quarters as the world's largest PC maker saw device sales slow after a pandemic-fueled surge, and it was also hampered by COVID-19 lockdowns at home.   The results validate Lenovo's strategy of focusing on non-PC sectors such...

Toshiba Reports A Surprising Quarterly Operational Deficit Due To Rising Costs

Toshiba Corp reported an unexpected operational loss in the first quarter on Wednesday, blaming it on rising logistical and raw material costs, as well as a global chip shortage.   Masayoshi Hirata, the conglomerate's chief financial officer, told reporters that the company's first quarterly...

Nikkei Says That Mitsui Sumitomo Insurance Will Pay $400 Million For A Reinsurance Broker In The United States

According to the Nikkei business daily, Mitsui Sumitomo Insurance Company, a part of Japan's MS&AD Insurance Group Holdings, will spend approximately $400 million to acquire US reinsurance broker Transverse.   According to the Nikkei, the Japanese property insurer intends to obtain...

Withdrawals Suspended By Singapore-Based Cryptocurrency Lender Hodlnaut

Hodlnaut, a Singapore-based cryptocurrency lender and borrower, announced that it had ceased withdrawals, swaps, and deposits, the latest symptom of stress in the cryptocurrency business.   In addition, the crypto lender announced that it would withdraw its application for a license from the...
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