Coinbase Posts Steep Second-Quarter Loss Amid Crypto Meltdown

The largest U.S. crypto exchange posted its second consecutive quarter of losses, hurt by sharp loss in trading fees. 


 
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones

The White House committed to long-term U.S. chip expansion as companies are dialing down their near-term spending. 


 
Commonwealth Bank of Australia's Profit Rises

CBA posted a 6.0% rise in annual net profit driven partly by volume growth across its core home lending and business banking units, and a revision in pandemic-related provisions. The bank also raised its dividend. 


 
Lenovo's Net Profit Rose on Strong Margins

The Hong Kong-listed technology company reported that its net profit rose 11% to $516 million in the first quarter of the fiscal year as net margins hit an all time high. 


 
BuzzFeed Expects Recession Fears to Pressure Advertising

The digital media company posts 20% rise in revenue, boosted by sponsored-content growth. 


 
Walmart Explores Adding Streaming Video to Walmart+ Membership Program

The retailer has held talks with Disney, Comcast and Paramount about adding one of their services as a perk. 


 
Former Twitter Employee Convicted of Spying for Saudi Arabia

Ahmad Abouammo was found guilty of spying and money laundering. 


 
Microsoft Curbs Spending on Travel, Gatherings in Bid to Reduce Costs

Microsoft finance chief Amy Hood warned employees to keep an eye on budgets, with some spending on business travel, outside training and company gatherings being targeted in an effort to control costs in the current economic environment. 


 
Disney Faces Questions on Streaming, Recession Fears at Theme Parks

As the world's largest entertainment company prepares its quarterly update, CEO Bob Chapek is also likely to weigh in on a new slate of Marvel movies and plans for Star Wars. 


 
U.S. Accuses China's Largest Cable Manufacturer of Violating Export Controls

Far East Cable Co. helped Chinese telecoms company ZTE deliver restricted U.S. goods to Iran, the U.S. Commerce Department said.


(END) Dow Jones Newswires

08-09-22 2115ET