Domestic/Foreign Markets

OTTAWA—Canada’s Rogers Communications Inc. said it had restored internet and wireless services and that its networks and systems are close to fully operational, following a roughly daylong outage starting early Friday morning that hit over 10 million customers and hampered electronic-banking and debit-card transactions across the country. The company said the outage was the result of an equipment-maintenance update that went awry. Rogers said…

HONG KONG—China’s car sales rose almost 23% in June from a year earlier as production recovered in lockdown-hit Shanghai to meet pent-up demand and government cash incentives stimulated purchases in the world’s biggest auto market. Sales for passenger cars also rose sharply to 1.94 million in June from 1.35 million vehicles in May, the China Passenger Car Association said Friday, a sign of buyers making up for lost time after falls in recent months caused by pessimism over the economy…

Twitter Inc. TWTR 1.44% officials on Thursday doubled down on defending the accuracy of their calculation of spam on the platform, addressing an issue that has become a potential stumbling block in Elon Musk’s $44 billion deal to buy the company. The officials, who asked not to be named, reiterated on a call with reporters Thursday that spam accounts make up less than 5% of the company’s daily monetizable…

SEOUL—Prices of memory chips, stuffed into nearly every electronic gadget, enjoyed a meteoric rise throughout the pandemic. Now prices have come down to levels that suggest the demand boom is likely over.The average contract price for a major type of memory, called DRAM, fell by 10.6% during the April-to-June quarter versus the prior year, the first such decline in two years, according to TrendForce, a Taiwan-based market research firm. Prices are expected to decline even more dramatically in the months ahead. Prices of…

Illinois-based AbbVie Inc. makes the bulk of its profits from arthritis drug Humira on sales in the U.S., but the company reports almost all its taxable income in foreign subsidiaries, according to a Senate Finance Committee report that criticizes the pharmaceutical company’s use of entities in Bermuda and Puerto Rico to reduce its tax burden.The Democratic staff report details how AbbVie Biotechnology Ltd., a Bermuda-based AbbVie subsidiary with no employees or significant operations in…

The pandemic period has been a boon for the trio of companies that dominate cloud computing. Now as the economy enters another tumultuous phase, Amazon.com Microsoft and Google appear poised to extend their strength.The three companies accounted for 65% of the $53 billion in global cloud-service spending in the first quarter of the year, according to Synergy Research Group, up from 52% of global sales four years ago. And their control of the crucial, rapidly growing market is expected to continue as their size makes them…

HONG KONG—Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellenspoke by videoconference about topics including American tariffs on Chinese goods, amid expectations that the Biden administration could roll back some of the duties on more than $350 billion in Chinese imports this week. During the virtual meeting on Tuesday, Mr. Liu, China’s top trade negotiator, told Ms. Yellen that the lifting of additional tariffs and sanctions were of great interest to China, according to a statement by the country’s…

Starbucks Corp. SBUX 1.30% customers encountered longer waits for Frappuccinos, Cold Brew and other items this week as cafes faced what the company said were technical problems with online orders.Some U.S. Starbucks stores across several days this week struggled to fulfill mobile orders and credit-card transactions for stretches of time, as cafes contended with mobile-ordering and payment-processing disruptions, according to company messages viewed by The Wall Street…

A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit the highest levels in over a decade earlier this month.In recent months, companies and commodities traders have shipped more U.S. gasoline and diesel to Latin America and other foreign markets, reaping higher prices than the fuel could fetch domestically. They have also sent more liquefied natural gas, or LNG, to Europe after Russia’s invasion of Ukraine. The jumps…

TotalEnergies CEO Patrick Pouyanné, wearing glasses, and Qatari Minister of Energy Saad Sherida Al-Kaabi met at QatarEnergy headquarters in Doha, Qatar, on Sunday. Photo: karim jaafar/Agence France-Presse/Getty Images…