HONG KONG: ZTE reported a first-half net loss of 7.8 billion yuan ($1.1 billion) on Thursday, weighed down by a ban on US firms selling parts to the Chinese telecom equipment maker that forced it to cease operations for three months. The result compared with the 7 billion to 9 billion yuan net loss estimate disclosed last month, and the 2.3 billion yuan profit booked in the same period a year earlier. Operating revenue in the first half fell 27.0 percent to 39.4 billion yuan. In June, the network equipment and…
LONDON: If last year’s financial markets boom was down to a ‘Goldilocks’ global economy, 2018 has so far been all about the bears, with the worst start to a year for world stocks since 2010. A grizzly mix of U.S.-China trade tensions, central banks turning off the money taps and cooling growth in hotspots including Europe has wiped a trillion dollars off MSCI’s 47-country world index. A pumped-up dollar, which has had its best first half in three years, and a 16 percent leap in oil prices have played a big role too…
SAN FRANCISCO: The on-demand car ride service Uber lost at least $1.27 billion in the first half of this year, Bloomberg reported on Thursday, citing sources close to the matter.