Business articles

Tencent clobbers estimates with 70% profit surge

Chinese tech giant Tencent on Wednesday reported second-quarter results that handily beat analyst estimates in an apparent validation of the company’s push to build up its entertainment and gaming businesses.

US household debt breaks pre-crisis record: NY Fed

US household debt reached a new record in the second quarter, surpassing a peak recorded at the start of the global financial crisis, the New York Federal Reserve Bank said Tuesday.

UK may seek temporary customs union after Brexit

Britain could seek a temporary customs union with the European Union after Brexit, the government said Tuesday as it prepared to publish its first detailed proposals on the future partnership.

Trump set to up ante with China over trade ties

President Donald Trump on Monday was poised to ratchet up trade tensions with China, announcing the start of an investigation into Beijing’s trade practices on intellectual property at a time when relations are already strained over North Korea.

Facebook samples China’s potential with sneaky app

Facebook’s sneaky launch of a photo-sharing app in China, where its social network is banned, gives it a small taste of the massive market’s potential, but it may have to settle for just that for now.