Customers are shopping for the iPhone 15 at the flagship store of Apple Smart Products on Nanjing Road Pedestrian Street in Shanghai, China, on May 24, 2024.  Costfoto | Nurphoto | Getty Images Apple was edged out of the top five smartphone vendors’ list in China in the second quarter, as competition from domestic brands such as Huawei intensifies, according to a Canalys report. Apple’s market share in China shrank to 14% in the second quarter, the report released Thursday showed, from 15% in the first quarter and 16% in the same period a year ago. The iPhone maker, which...

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Ed Jones | Afp | Getty Images Japan’s Nikkei 225 extended its six-day losing streak to plunge 3%, leading losses among Asian indexes as the region saw a broad sell-off after Wall Street tumbled overnight. Nikkei heavyweight SoftBank Group nosedived 9%, while Renesas Electronics led losses in the index, down more than 14%. The broader Topix fell 2.24%. The yen also marked a fourth-straight day of strengthening against the U.S. dollar,...

Tesla China sales fell by 5.4% in the first half of the year, although the company retained third place in new energy vehicle sales, behind BYD and Geely, according to the China Passenger Car Association. Bloomberg | Bloomberg | Getty Images BEIJING — Tesla CEO Elon Musk has again touted the impending rollout of advanced driver-assist software in China, after reporting another quarter of disappointing earnings. Since last year, driver-assist has become a selling point for cars in China’s fiercely competitive electric car market. Tesla’s Autopilot for navigating on highways is available locally, but not Full Self-Driving, which uses cameras...

Wiz has walked away from a $23 billion deal to be acquired by Google, in what would have been the search giant’s largest-ever deal, telling employees it would pursue an initial public offering as it initially planned. ”Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport said in a memo obtained by CNBC to the company’s worldwide employee base. A person familiar with the company’s thinking cited both antitrust and investor concerns as part of the motivation behind the decision to walk away. Rappaport wrote that the company would focus on its next milestones: an initial public...

Aerial view by drone of Tokyo Cityscape with Tokyo Sky Tree visible in Tokyo city, Japan on sunrise. pongnathee kluaythong | Moment | Getty Images Asia-Pacific markets fell on Monday, as news emerged that U.S. President Joe Biden had dropped out of the presidential race and endorsed Vice President Kamala Harris as the Democratic nominee. On Monday, China’s central bank unexpectedly cut rates, with the short term 7-day reverse repurchase rate lowered to 1.7% from 1.8%. The one-year and five-year loan prime rates were also trimmed by 10 basis points each to 3.35% and 3.85% respectively, surprising markets as economists...

US Vice President Kamala Harris holds a campaign event that is her seventh visit to North Carolina this year and 15th trip to the state since taking office in Fayetteville NC, United States on July 18, 2024. Peter Zay | Anadolu | Getty Images Vice President Kamala Harris has gained more public support from Democratic lawmakers as a potential replacement for President Joe Biden, should he decide to drop out of the race against former President Donald Trump. California Rep. Mark Takano on Saturday became the thirty-sixth Democrat on Capitol Hill to call on Biden to exit the race on...

The tally of congressional Democrats calling for President Joe Biden to exit the 2024 election race soared past 35 on Friday afternoon, as the Biden campaign’s co-chair said the president ”is weighing what he should weigh, which is, who is the best candidate to win in November and to carry forward the Democratic Party’s values.” Also Friday, Ohio Sen. Sherrod Brown, the Senate Finance Committee chairman, became the highest ranking member of Congress so far to ask Biden to end his reelection campaign. NBC News first reported Brown’s decision. ”I agree with the many Ohioans who have reached out to...

Former President Donald Trump recounted the assassination attempt that nearly killed him during his Republican National Convention acceptance speech in Milwaukee on Thursday night. ”I’m not supposed to be here tonight,” said a somber Trump, with a bandage covering his right ear, which was nicked by a bullet. ”As you already know, the assassin’s bullet came within a quarter of an inch of taking my life.” ”I stand before you by the grace of almighty God,” Trump said before approaching and kissing the fire chief’s helmet of Corey Comperatore, who was killed in the shooting by Thomas Crooks in Butler Township, Pennsylvania, during a campaign rally...

The IMF said it is optimistic on Chinese consumption returning in the next few years, but falling birth rates will still cause an economic down. Martin Puddy | Photodisc | Getty Images The International Monetary Fund has upgraded its economic forecast for India for 2024, while warning that growth will dip in the following year. India — which the IMF had previously called ”the world’s fastest-growing major economy” — is expected to grow 7% in 2024, higher than April’s projection of 6.8%. This can be largely attributed to improvements in private consumption, especially in rural parts of the country, the...

HSBC logo is displayed outside a branch of in the United Kingdom. Matt Cardy | Getty Images HSBC announced on Wednesday that it has appointed Georges Elhedery as group CEO, starting Sept. 2. Elhedery, who is the current chief financial officer, will replace outgoing head Noel Quinn in September. In late April, HSBC announced a surprise departure of Quinn, who was at the helm for nearly five years. Quinn said at that time: ”After an intense five years, it is now the right time for me to get a better balance between my personal and business life. I intend to...