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  • Tencent Is World’s Worst Stock Bet With $170 Billion Wipeout
    Business
    Bloomberg

    Tencent Is World’s Worst Stock Bet With $170 Billion Wipeout

    (Bloomberg) -- China’s unprecedented crackdown on its technology industry has turned Tencent Holdings Ltd. from a market darling into the world’s biggest stock loser this month.The Chinese Internet giant had tumbled 23% in July as of Wednesday, set for its worst month ever after erasing about $170 billion of market value. That marks the fastest evaporation of shareholder wealth worldwide during this period, Bloomberg data shows. Nine of the top 10 losers in shareholder value this month are Chine

  • Nokia lifts full-year forecast as turnaround takes root
    Business
    Reuters

    Nokia lifts full-year forecast as turnaround takes root

    HELSINKI (Reuters) -Nokia on Thursday raised its full-year outlook as promised after reporting a stronger-than-expected second-quarter operating profit, as the telecom equipment maker benefits from a sharp turnaround in its business. Shifting geopolitics and a sharp round of cost cutting have put Nokia firmly back in the global 5G rollout race just a year after CEO Pekka Lundmark took the reins, allowing it to gain ground on Swedish arch-rival Ericsson. "We have executed faster than planned on our strategy in the first half which provides us with a good foundation for the full year," Lundmark said in a statement on Thursday, but added that Nokia still expects typical seasonal effects to be less pronounced this year.

  • Business
    U.S.News & World Report

    What Net Worth Do You Need to Retire?

    If you're thinking about saving for retirement, calculating your net worth can be a useful tool. It might help you evaluate your current situation, set goals and budget for retirement.

  • Cathie Wood’s ARK Innovation ETF Has Sold Nearly All Its Chinese Stocks
    Business
    Barrons.com

    Cathie Wood’s ARK Innovation ETF Has Sold Nearly All Its Chinese Stocks

    ARK Invest's Cathie Wood continued to exit Chinese stocks after the country's regulators targeted the tutoring industry.