Hong Kong last month suspended sales of three spice blends produced by MDH and one by Everest, saying they contained high levels of a cancer-causing pesticide ethylene oxide.
Cinema chain AMC dropped 14.3%, after surging 135% in the past two sessions, while video game retailer GameStop fell 9.8% after hitting its highest level since June 2021 on Tuesday. Trading in the retail investor darlings, the most actively traded NYSE stocks, were halted minutes after the market opened.
Netflix also said it will launch an in-house advertising technology platform by the end of 2025, in a bid to offer clients new ways to buy ads and better engage with users.
Burberry had previously warned that its ambition to take the 168-year-old brand further upmarket, to become the definition of "Modern British Luxury", had been harder than expected after demand for luxury slowed. Like-for-like sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, it said.
British cigarette maker Imperial Brands reported higher first-half operating profit on Wednesday, thanks to price hikes and growing demand for tobacco alternatives. After years of slow growth and losses in market share, Imperial outlined a turnaround plan in 2021 focusing on its five top markets and beefing up investments in next-generation products (NGP), which were deemed less harmful to health.
Colgate-Palmolive India posted a Q4 profit rise on price hikes, healthy demand. Analysts, however, expect rural demand to show improvement by the December quarter as a good monsoon typically boosts farm income. Rival Hindustan Unilever missed quarterly earnings estimates but also said that a recovery in rural demand is underway.
YouTube will block access in Hong Kong to videos of the protest anthem "Glory to Hong Kong" after a court order, complying despite concerns it deals a blow to free expression amid the city's security crackdown. Observers say the ban further undermines Hong Kong's reputation as a business hub and raises worries over erosion of freedoms.
The tie-up follows a similar one announced last week between Warner Bros Discovery and Walt Disney - to offer a bundle of the Disney+, Hulu and Max streaming services.
The United States and Australia have been looking into contamination after Hong Kong last month suspended sales of three spice blends of MDH and one of Everest, saying they contained high levels of a cancer-causing pesticide, ethylene oxide. Singapore ordered a recall of the Everest spice mix.
The consumer products maker, one of the world's biggest ad spenders and a sponsor of the Olympics, is instead focusing its marketing at the Games on its individual brands including Pampers diapers, Gillette razors and Ariel detergent.
"We are discontinuing Workplace (to) focus on building AI and metaverse technologies that we believe will fundamentally reshape the way we work. Over the next two years, we will provide our Workplace customers the option to transition to Zoom's Workvivo product, Meta's only preferred migration partner," a Meta spokesperson said.
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