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  • Business
    Reuters

    Apple loses top spot in China market with shipments down 6.6% in Q1, data shows

    Honor and Huawei were tied for the top spot, with Honor's market share rising to 17.1% and Huawei's share climbing to 17%, IDC said, while the iPhone maker's market share fell to 15.6%. The IDC declares a statistical tie when the difference between the share of revenue or shipments between two or more vendors is 0.1% or less. "Apple's price promotions in the quarter were unable to mitigate the impact of the intense competition from Android players," Arthur Guo, senior research analyst at IDC China said in the report.

  • Business
    Reuters

    Mercedes-Benz to launch luxury electric van for Chinese market

    Mercedes-Benz is planning to launch a luxury electric van for the Chinese market based on its VAN.EA platform, the head of the carmaker's vans division told German magazine WirtschaftsWoche. Last year, Mercedes-Benz Vans sold a record 447,800 vehicles and achieved an adjusted return on sales of 15.1%.

  • Business
    Reuters

    Slow, but solid US economic growth anticipated in Q1; inflation likely heats up

    U.S. economic growth likely slowed to a still-solid pace in the first quarter while inflation accelerated, reinforcing financial market expectations that the Federal Reserve would delay cutting interest rates until September. The Commerce Department's snapshot of first-quarter gross domestic product on Thursday is expected to show consumers still doing the heavy lifting for the economy, thanks to a resilient labor market. The economy has defied prophecies of doom since late 2022 following the U.S. central bank's aggressive rate hiking campaign to snuff out inflation.

  • Business
    The Canadian Press

    Stock market today: Asian benchmarks mostly slide as investors focus on earnings

    TOKYO (AP) — Asian shares mostly declined Thursday as investors awaited a flood of global earnings reports, including updates from U.S. tech companies known as the “Magnificent Seven.” Japan's benchmark Nikkei 225 slid 1.4% in morning trading to 37,931.81. South Korea's Kospi dropped nearly 1.0% to 2,649.96. Hong Kong's Hang Seng gained 0.5% to 17,282.67, while the Shanghai Composite edged 0.2% higher, to 3,049.90. Trading was closed in Australia for a national holiday, Anzac Day. Attention is a