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Chinese gaming and social media giant Tencent reported a forecast-beating 65 percent rise in quarterly profit on Thursday, while management reiterated the company's focus on compliance as China steps up scrutiny on tech giants.Tencent, the world's largest gaming firm by revenue, booked profit of CNY 47.77 billion (roughly Rs. 54,180 crores) for the three months through March, higher than the average analyst estimates published by Refinitiv of CNY 35.45 billion (roughly Rs. 40,220 crores).The results come as Chinese…

The Western-inspired hotel brand Urban Cowboy is finally making its way out West with the announcement of a new boutique outpost in the heart of Denver. Urban Cowboy will open its fourth hotel by the same name and its first location west of the Mississippi sometime in the first half of 2023, according to partners Lyon Porter and Jersey Banks, who was raised in Denver’s Highland neighborhood. “It’s a homecoming for me,” Banks said. “I’m excited to bring our brand of hospitality to the city where I grew up… .” Banks and…

Bharti Airtel swung to a quarterly profit on Wednesday, as the Indian telecom firm added more subscribers and saw higher data usage during the coronavirus-led work-from-home trend.With the December-quarter profit, India's second-largest telecom operator has snapped a streak of six loss-making quarters during which the company has seen a growth in market share even as it grappled with a tariff war and demands to pay massive government dues.Airtel's subscriber base in India grew to 336.2 million, with the company adding…

Samsung Electronics' net profits surged more than 70 percent in the second quarter thanks to higher memory chip prices fuelled by pandemic-led demand, the South Korean tech giant reported Thursday.Coronavirus-driven working from home boosted demand for devices and appliances powered by Samsung's memory chips. The company said that "memory shipments exceeded previous guidance and price increases were higher than expected".The world's biggest smartphone maker saw net profits rise 73.4 percent year-on-year to KRW 9.6…

China's Lenovo Group, the world's biggest maker of personal computers, on Wednesday posted a better-than-expected jump in first-quarter profit as COVID-19 curbs continued to spur work-from-home demand.Shares in the company rose by as much as 9.7 percent after its results, and were on course for their biggest daily percentage gain since March 30.Profit for the quarter ended June 30 rose 119 percent to $466 million (roughly Rs. 3.470 crores), versus $213 million (roughly Rs. 1,590 crores) in the same quarter last year, and…

Toshiba said on Thursday it swung back to profit in the first quarter, as sales of automotive chips and hard disk drives recover from a pandemic-driven slump in demand.The scandal-hit Japanese conglomerate also said it has been working on the selection of candidates for a permanent CEO and board chairman.Satoshi Tsunakawa, a veteran Toshiba executive who has taken on both positions in an interim capacity, told reporters he hopes an extraordinary shareholders meeting to appoint a new board chairman will be held by the end…

Dell beat market estimates for second-quarter revenue on Thursday as the shift to hybrid work kept demand strong for its laptops, desktops and cloud services.People globally continue to spend on computer devices even after a year of working from home. Figures from International Data showed shipments of PCs rose 13 percent from April to June, but the pace of growth was much slower than last year's frenzy.While the industry has faced pressure from components shortage and supply chain woes, revenue at Dell's client solutions…

A surge in Microsoft's shares nearly unseated Apple Inc as the world's most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results.Fuelled by strong quarterly growth in its Azure cloud-computing business, Microsoft's shares jumped 4.2 percent to end at a record $323.17 (roughly Rs. 24,225), elevating the software maker's market capitalisation to $2.426 trillion (roughly Rs. 1,81,86,020 crore), just short of Apple's $2.461 trillion (roughly Rs. 1,84,45,070 crore) valuation, according to…

Localities of Ayodhya City in Uttar Pradesh got miffed after a youngster rode a motorcycle in the river. The video, which has now become viral on the Internet shows a youngster riding a motorcycle through the river. The video became viral on social media and the police issued a challan after they saw the video. थाना को0अयोध्या पुलिस द्वारा विधिक कार्यवाही प्रचलित हैं। pic.twitter.com/fUd91pvqhn — AYODHYA POLICE (@ayodhya_police) July 5, 2022 The video of the person riding through the river became viral on the…

Samsung shares jumped on Friday after it said its fourth quarter operating profit likely rose 26 percent as coronavirus pandemic driven remote working and TV-watching fuelled sales of chips and display panels.Samsung Electronics shares rose as much as 8.6 percent in afternoon trade to a record high, compared to a 3.9 percent rise in the wider market, due to an earlier-than-expected rebound in memory chip prices, analysts said."DRAM chip prices appear to be turning around now, rather than later in the year as we expected,"…