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Mattel reports profit dip despite glow from 'Barbie' blockbuster
Mattel reported a drop in profits Wednesday on lower sales, including a decline in Barbie products in the second quarter. Barbie had a six percent drop in worldwide gross billings to $282.7 million.
Meta earnings beat market expectations as ads revive
Facebook parent Meta on Wednesday beat market expectations for quarterly earnings powered by a reviving digital ad business. Meta said in the earnings report that it expects its operating losses at the unit responsible for VR to "increase meaningfully" in the months ahead.
New Gap chief executive boosted Barbie as Mattel president
US clothing chain Gap announced Wednesday that it tapped as its next CEO Richard Dickson, the current Mattel president who has been credited with reinvigorating Barbie.
Spurs owner Lewis pleads not guilty to US insider trading charges
The British billionaire owner of Premier League side Tottenham, Joe Lewis, pleaded not guilty to insider trading charges Wednesday in a US federal court.
Coca-Cola eyes more price hikes in emerging markets
Coca-Cola lifted its full-year earnings targets Wednesday after second-quarter results topped estimates as it described plans to limit additional price hikes to emerging markets with the most intense inflation.
Airbus and Boeing race to boost aircraft production
Airbus and Boeing both stepped up deliveries of commercial aircraft in the first half of this year, boosting revenue as they strive to ramp up production to meet demand from airlines. As airlines have announced major new orders in response to robust travel demand following Covid-19 lockdowns, Airbus and Boeing have had trouble boosting production.
Why Musk's 'X' will struggle to become a Chinese-style super-app
Elon Musk is rebranding his Twitter platform as "X" and wants to create a super-app where users will do all their finances as well as their socialising. - Why is Musk so obsessed with the super-app?
Jeep owner Stellantis posts record profit on higher prices
US-European auto giant Stellantis, whose brands include Jeep, Fiat and Peugeot, reported Wednesday a record net profit in the first six months of the year, boosted by higher prices for its vehicles. Shipments of luxury brand Maserati, which had struggled following the Peugeot-Fiat Chrysler merger that created Stellantis in 2021, rose by more than five percent at 15,300 vehicles.
Spurs owner Lewis arrested ahead of US court appearance
The British billionaire owner of Premier League side Tottenham, Joe Lewis, was arrested on Wednesday ahead of a court appearance in New York on insider trading charges, US prosecutors said. Lewis's holding company ENIC bought a controlling interest in Tottenham in 2001 from then-owner Alan Sugar, another prominent British tycoon. pdh/bgs
AFP
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