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China has reported its exports and imports both fell in September from a year earlier as global demand remained muted HONG KONG -- China’s exports and imports both fell in September from a year earlier, though they contracted at a slower pace than the month before even as global demand remained muted. Customs data released Friday showed export s for September slid 6.2% to $299.13 billion in the fifth straight month of decline. Imports also slid 6.2%, to $221.43 billion. China posted a trade surplus of $77.71 billion, up from $68.36 billion in August. Lu Daliang, spokesperson of the General Administration of Customs, said in a press conference Friday in Beijing that the unstable momentum of the global economy’s recovery from the pandemic was the biggest challenge facing China’s exports. China's economy has declined at a slower pace after leaders enacted a slew of policy support measures in recent months. However, property sector remains a drag on the economy, with sales slumping and...

Facebook’s parent company Meta has issued a summons for billionaire Andrew Forrest to hand over sensitive documents amid a legal battle over an alleged Cryptocurrency clickbait advertising scam. Lawyers for the tech giant took the unusual step of issuing a summons to demand 20 categories of documents , alleging the mining magnate’s lawyers had failed to hand over papers relevant to the legal battle . The documents include some of Dr Forrest’s personal emails and communication about overseas litigation funding for the case he has launched against the social media platform in the US. Watch the latest news and stream for free on 7plus >> Meta also wants a copy of a draft letter sent by prosecutors to the Commonwealth attorney-general, a document that West Australia’s Magistrates Court heard was privileged. Prosecutors allege Meta was criminally reckless in allowing bogus advertisements for a cryptocurrency investment scheme using Dr Forrest’s image to appear on its site. S...

Dell Technologies raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. Shares of the Round Rock, Texas-based company rose 8% in extended trading. The results are the latest sign that a downturn in tech spending could be drawing to a close after major networking equipment provider Cisco also beat quarterly revenue estimates. The company is expected to see a demand boost for its PowerEdge servers and generative AI designs with Nvidia from rising investments in artificial intelligence by Big Tech companies. "AI is already showing it's a long-term tailwind, with continued demand growth across our portfolio," Chief Operating Officer Jeff Clarke said. The company forecast third-quarter revenue between $22.5 billion and $23.5 billion beating analysts' estimates of $21.67 billion, accor...

Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers. Auto sales rose a Health y 16.8% from April through June to just over 4.1 million, fueled by pent-up demand from nearly two years of short supplies due to factories that were hobbled by the global computer chip shortage. For much of the year, average prices pulled back a bit and automakers raised discounts a little. But in June, those trends began to stall out, said Ivan Drury, director of insights for Edmunds.com. Consumers paid an average of $45,978 per vehicle in June, according to J.D. Power estimates. That's flat from June of last year, but almost $1,400 less than in December of 2022 when prices peaked. Inventory on dealer lots was expected to be just over 1.2 million vehicles in June, about the...