Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing “video accounts” business. However, ads still make up less than a fifth of Tencent’s overall revenue – which barely rose in the fourth quarter and fell for the whole of 2022 as Covid lockdowns dampened economic growth. … Read more
CNBC’s Jim Cramer said on Wednesday the market was distracted by Janet Yellen’s remarks about bank failures rather than focusing on the stability reflected in the Fed’s rate hike. During Fed Chairman Jerome Powell’s press conference, the market fell before falling in response to Yellen’s comments, according to Cramer. CNBC’s Jim Cramer said the Federal … Read more
Stocks were flat on Wednesday as Wall Street braced for the Federal Reserve’s first potential rate hike since the recent fallout in the banking sector. THE Dow Jones Industrial Average fell 22 points, or 0.07%. THE S&P500 fell by 0.10%, while Nasdaq Compound fell by 0.07%. The major averages posted solid gains in the previous … Read more
