A private gauge of China’s manufacturing activity returned to expansionary territory in February, ending six months of contraction and marking a new high since June as Beijing moved to kick-start economic growth after lifting Covid-19 restrictions in December.
Therese Poletti’s Tech Tales: Marc Benioff’s Salesforce fairy tale is crumbling down around him
Salesforce has been a unique tech company, able to sell itself as a “family” while generating near-universal praise from Wall Street. But that is changing.
Dow Jones Newswires: Australia’s economic growth slows in Q4 as consumer spending cools
Australia’s economy grew by much less than expected in the final months of 2022 as consumer spending slowed in the face of rising interest rates and the biggest cost-of-living surge in over three decades.
: General Motors is reportedly cutting around 500 jobs, a month after CEO said ‘We’re not planning layoffs’
General Motors said it is cutting salaried and executive staff — after saying a month ago that it wasn’t planning layoffs.
Dow Jones Newswires: SmileDirectClub shares fall on Q4 revenue miss, expected demand challenges
Revenue in the recent period fell 32% to $86.5 million, below the $90.6 million analysts expected, according to FactSet.
Dow Jones Newswires: South Korea’s exports shrink for fifth straight month
Exports fell 7.5% from a year earlier to $50.10 billion, following a 16.6% drop in January, according to preliminary data released by the country’s trade ministry on Wednesday.
Earnings Results: HP holiday earnings chopped in half, CEO says ‘we continue to see a slowdown’ in PC sales
HP’s stock rose slightly Tuesday after the PC maker reported a steep drop in revenue and GAAP earnings being cut in half during the holiday season.
: Reata’s stock soars 150% after FDA approves rare-disease drug amid uncertainty about approach to neuroscience treatments
The approval comes one day after the departure of Billy Dunn, the FDA’s head of neuroscience.
Earnings Results: Ross Stores says rising prices continue to hit lower-income shoppers — and forecasts miss expectations
Ross Stores Inc. slipped after hours on Tuesday after the bargain retail chain offered up a full-year forecasts that missed analysts expectations.
Crypto: Visa says crypto strategy unchanged after a report that it’s pausing new partnership efforts
Visa says its crypto strategy would remain the same after a news report said it and fellow payments company Mastercard were halting efforts to forge new partnerships with crypto firms