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Chinese tech giant Huawei said Wednesday it eked out higher sales and profit last year but growth plunged after its smartphone unit was hammered by U.S. sanctions imposed in a fight with Beijing over technology and security.
Source: ctv business
China’s Huawei says 2020 sales rose despite U.S. sanctions

Statistics Canada says the economy grew 0.7 per cent in January.ary.
Source: ctv business
Better-than-expected Jan. growth a good sign for pandemic’s third wave: economists

Low-cost fashion brand Hennes & Mauritz AB on Wednesday reported an expected loss in the first quarter. Meanwhile, the pandemic-hit Swedish company said it was committed to remaining in the Chinese market despite facing a boycott there because of its views of alleged use of forced labour to produce cotton in the country’s western region of Xinjiang.
Source: ctv business
H&M swings to loss, affirms commitment to China market

Shareholders owning more than 95 per cent of the stock in Arc Resources Ltd. have approved its merger with fellow Calgary-based producer Seven Generations Energy Ltd. to create Canada’s sixth largest oil and gas company.
Source: ctv business
Seven Generations shareholders approve .1-billion merger with Arc Resources

U.S. stocks are rising in afternoon trading Wednesday, as investors wait to hear the details about Washington’s next mammoth push for the economy.
Source: ctv business
Wall Street ticks higher, led by tech and smaller stocks

The head of the 190-nation International Monetary Fund says prospects for global growth have brightened since January, helped by a US$1.9 trillion U.S. rescue package. But she warns that uneven progress in fighting the pandemic could jeopardize the economic gains.
Source: ctv business
IMF head: global growth prospects rising but dangers remain

Epic Games submitted a complaint Tuesday about Apple’s alleged ‘monopolistic practices’ to the U.K. competition watchdog, which is investigating the iPhone maker over concerns it has a dominant position in app distribution.
Source: ctv business
Epic Games complains about Apple to U.K. competition watchdog

Canadian blockchain technology company Dapper Labs has secured $305 million in private funding — some of it from current and former NBA players, including Michael Jordan — to scale up its virtual NBA trading card site, the company said Tuesday.
Source: ctv business
Dapper Labs, creators of NBA Top Shot, get US5M in funding

PayPal Holdings Inc. will announce later on Tuesday that it has started allowing U.S. consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally, a move that could significantly boost use of digital assets in everyday commerce.
Source: ctv business
PayPal launches crypto checkout service

A Vietnamese court on Tuesday sentenced a flight attendant to two years probation for violating COVID-19 quarantine rules and spreading the virus to others, become the first person in the country to stand trial for such offences, state media said.
Source: ctv business
Vietnam flight attendant gets probation for COVID-19 quarantine slip