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 share price; compares profit with estimates)
May 9 (Reuters) - GoPro Inc topped Wall Street estimates for quarterly revenue and reported a smaller-than-feared loss on Thursday, driven by strong demand for its new range of cheaper action cameras from flagship brand HERO.
The company's action cameras, which were once a must-have for surfers, sky divers and Instagram travel bloggers, have been facing stiff competition from pocket-friendly smartphones with constantly improving camera quality.
GoPro's cheaper HERO cameras, job cuts and exit from its failing drone business have helped the business to keep losses in check and revive margins.
The San Mateo, California-based company said its sales through retailers grew 11 percent in Asian markets, including Japan, China and Korea, and reported an 89 percent share of the U.S. action camera market by units.
The company incurred a net loss of $24 million, or 17 cents per share, in the first quarter ended March 31.
Excluding one-time items, the loss was 7 cents per share. Analysts had expected a loss of 9 cents, according to IBES data from Refinitiv.
Quarterly revenue jumped 20 percent to $243 million, beating Wall Street analysts' average estimate of $234.4 million.
Shares of the company were up about 1 percent at $6.40 in extended trading. (Reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli)