A target market for international companies, Chinese consumers are increasingly keeping their money in their wallets, and Reuters correspondent Adam Jourdan looks at the stagnating sales.
Russia will intensify strikes on Ukrainian storage bases that house Western-supplied weapons, Defence Minister Sergei Shoigu said on Tuesday. In remarks to defence officials, Shoigu also said Russia had "dispelled the myth of the superiority of Western weapons" and its forces had gained the initiative along the 1,000 km (600-mile) battle front. He referenced the fact that Washington is poised to supply Ukraine with a new military aid package worth nearly $61 billion following a vote by the House of Representatives on Saturday.
The U.K. on Tuesday pledged an additional $620 million in new military supplies for Ukraine, including long-range missiles and four millions rounds of ammunition, at a time when Ukraine is struggling to hold off advancing Russian forces on the eastern front line of the war, now in its third year. British Prime Minister Rishi Sunak spoke with Ukraine's President Volodymyr Zelenskyy on Tuesday morning to confirm the assistance and "assure him of the U.K.’s steadfast support for Ukraine’s defense against Russia’s brutal and expansionist ambitions,” Sunak's office said. Sunak was traveling to Warsaw later Tuesday to meet with Polish Prime Minister Donald Tusk and NATO Secretary General Jens Stoltenberg for talks about further aid for Ukraine.
Thailand's cabinet on Tuesday approved a plan to select a new slate of senators who will no longer be allowed to vote on who becomes prime minister, removing what has effectively served as a veto for the powerful military on who leads the country. The military introduced an appointed Senate when it changed the constitution in the wake of a 2014 coup, hand-picking its own lawmakers who ensured junta leader Prayuth Chan-ocha became prime minister after parliamentary elections resumed in 2019. Those same senators also closed ranks with military-backed parties in a bicameral vote on a prime minister last year to block the surprise election winner, the anti-establishment Move Forward party, from forming a government.
Opening statements are set to begin today in the first-ever criminal trial of a former U.S. president following a dramatic week of jury selection.
GM kept the earnings momentum going with strong first quarter results, resulting in the automaker upping its full-year guidance. GM also still sees "positive variable profit" in its EV business in the back half of 2024 as well.
PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages. In North America Frito-Lay revenue rose 2%, while Pepsi beverage sales were up 1%. Sales were hurt by a recall early in the quarter of Quaker Oats cereal, bars and snacks because of potential contamination with salmonella.
Karen, an ostrich at the Topeka Zoo, has died after grabbing and swallowing a staff member's keys, the zoo announced Friday.
Hezbollah announced two of its members had been killed by Israeli fire Tuesday, with the Israeli army saying it eliminated "two significant" members of the Iran-backed group in south Lebanon.The Israeli army said it had killed "two significant terrorists in Hezbollah's aerial unit" on Tuesday morning and overnight.
UK leader Rishi Sunak travels to Warsaw on Tuesday for talks with Polish premier Donald Tusk and NATO chief Jens Stoltenberg that will focus on Ukraine and wider European security.Stoltenberg said last week that he expected more NATO countries to make announcements on fresh air defences for Kyiv "soon".
Despite a small dip in U.S. vehicle sales, General Motors' first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles. The Detroit automaker said that while its average sales price per vehicle was down slightly from last year at just under $50,000, pickup sales remained strong, and it's not seeing the price erosion across its lineup that other companies have experienced. GM on Tuesday said it made $2.97 billion from January through March, with revenue increasing 7.6% over the same period a year ago to just over $43 billion.
Spotify reported first quarter earnings before the bell on Tuesday. Here's what to know.
An aide to a German far-right member of the European Parliament has been arrested on suspicion of spying for China, German prosecutors said Tuesday, deepening concerns about foreign interference ahead of June's EU elections.Lawmakers in the EU parliament's leftwing Greens group on Tuesday called on the European Parliament to speed up a probe into links between MEPs and foreign powers.
Israel bombarded northern Gaza overnight in some of the heaviest shelling in weeks, causing panic amongst residents and flattening neighbourhoods in an area from which the Israeli army had previously down its troops, residents said on Tuesday. Army tanks made a new incursion east of Beit Hanoun on the northern edge of the Gaza Strip, though they did not penetrate far into the city, residents and Hamas media said.
Donald Trump is set to secure on Tuesday a stock bonus worth $1.3 billion from the company that operates his social media app Truth Social, equivalent to about half the majority stake he already owns in it, thanks to the wild rally in its shares. The award will take the former U.S. President's overall stake in the company, Trump Media & Technology Group (TMTG), to $4.1 billion. While Trump has agreed not to sell any of his TMTG shares before September, the windfall represents a significant boost to his wealth, which Forbes pegs at $4.7 billion.
Taiwan was shaken by dozens of earthquakes overnight and into Tuesday that left buildings swaying and some tilting, with the government saying they were aftershocks from a huge deadly quake that hit the island more than two weeks ago.The April 3 tremor was the most serious in Taiwan since 1999, when a magnitude-7.6 quake hit the island.
Marshall James Kavanaugh takes a battered old typewriter to a park and lets people give him a prompt for a poem. They walk away with a piece of art.
The idea of a doctor in the United States having to consider the risk of imprisonment before performing an emergency abortion might have been difficult to imagine just two years ago. But after the U.S. Supreme Court in June 2022 overturned the 1973 Roe v. Wade ruling that had legalized abortion nationwide, such dilemmas are a reality in several states that have since adopted Republican-backed near-total bans that include the threat of criminal penalties and loss of medical licensure. The court on Wednesday is set to hear arguments in a case pitting Idaho's strict abortion ban against a federal law that ensures that patients can receive emergency care.
Nvidia will report earnings in late May, an event that is likely more crucial to the overall market than the coming week's crush of results and economic data.
The Senate will take up the House-passed $95 billion foreign aid package this week, as the legislation nears its final congressional action after both sides of Capitol Hill have struggled for months to send aid to Ukraine, Israel and Taiwan.
French police evicted migrants from a makeshift camp in Paris a few steps away from the Seine River on Tuesday, the latest operation in what aid groups call a campaign of ‘’social cleansing'' ahead of the Summer Olympics. "I was already scared but I am even more scared because I don’t know where to go,” said Boubacar Traore, 16, who said he fled conflict in Burkina Faso and arrived in France two months ago. The operation came days after police carried out a large-scale eviction at France’s biggest squatter camp in a suburb south of Paris.
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