Month: October 2021

By JARI TANNER Associated Press HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported third-quarter profit above analyst expectations on increasing sales of 5G technology and trimmed costs. But the company warned on Thursday that the global shortage of semiconductors clouded the market outlook and could hamper growth. The Finland-based company reported net

HONG KONG (AP) — The president of Hong Kong’s legislature says it has become more efficient with no opposition members, after all pro-democracy lawmakers resigned late last year to protest the ouster of four colleagues for not demonstrating sufficient loyalty to Beijing. Hong Kong authorities have cracked down on political dissent in the past year,

MADRID (AP) — Spain’s National Statistics Institute says consumer prices increased this month by the country’s highest rate in 29 years as a result of soaring electricity costs. Preliminary data from the institute released on Thursday said consumer prices rose 5.5% in October compared to the same month in 2020. Regulatory measures so far haven’t

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Sony has reported its profit fell 54% in the last quarter, mainly due to a one-time tax-related gain that inflated last year’s number. The Japanese electronics and entertainment company managed to maintain results despite the coronavirus pandemic, reporting a 13% rise in quarterly sales. Tokyo-based Sony

By ELAINE KURTENBACH AP Business Writer Shares have slipped in Europe and Asia after a retreat on Wall Street pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs. Shares fell in London, Frankfurt, Tokyo and Shanghai. In Seoul, the Kospi edged 0.2% higher after Samsung Electronics reported its

SYDNEY (AP) — A 64-year-old fugitive who surrendered to Australian police because a Sydney lockdown left him jobless and homeless has been sentenced to an additional two months behind bars for escaping from prison almost 30 years ago. Darko Desic has been back in custody since mid-September when he walked into a Sydney police station

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The European Central Bank is facing the highest inflation in more than a decade and slowing business activity as it decides on monetary policy for the 19 countries using the euro. The bank’s governing council meets Thursday with no changes expected in interest rates or

LONDON (AP) — British lawmakers are grilling Facebook and other tech giants over how they handle online safety as European efforts to regulate social media companies gain momentum. The tech giant’s head of safety said Thursday that the company supports regulation and has no business interest in providing people with an “unsafe experience.” Representatives from

FRANKFURT, Germany (AP) — Volkswagen has lowered its forecast for deliveries to customers and reported a decrease in operating profits for the third quarter. The global shortage of semiconductors disproportionately hit the company’s business in China despite strong demand for its cars there. The company said on Thursday that deliveries in 2021 would be in