The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
(Adds shares, background on CEO)
May 2(Reuters) - TV broadcaster and media company CBS Corp fell short of analysts' estimates for first-quarter revenue on Thursday, hit by a drop in content licensing and distribution sales.
Revenue from its content licensing and distribution segment fell 3.2 percent to $963 million in the quarter, sending its shares down more than 1 percent to $49.70 in after-market trading.
CBS, home to popular shows such as the "The Late Show with Stephen Colbert," and "The Big Bang Theory," last month suspended the search for a permanent CEO and extended the role of its interim CEO Joseph Ianniello, sparking speculation about the company considering for the third time a tie-up with sister company Viacom Inc.
While media majors Walt Disney Co and AT&T Inc are tapping into their extensive film and TV libraries to launch streaming rivals to Netflix and Amazon.com's Prime video, smaller players CBS and Viacom appear to be harmonizing their strategy, focusing on providing original content to other distributors.
CBS said total revenue rose nearly 11 percent to $4.17 billion, but came in below estimates of $4.30 billion, according to IBES data from Refinitiv.
Net earnings rose to $1.58 billion, or $4.21 per share, in the three months ended March 31, from $511 million, or $1.32 per share, a year earlier.
The year-earlier quarter included a tax benefit of $768 million, the company said.
Excluding certain items, the company earned $1.37 per share, just above analysts' expectation of $1.36.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila)