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Baidu revenue contracts but beats estimates on cloud business growth
Business

Baidu revenue contracts but beats estimates on cloud business growth

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - China's search engine giant Baidu Inc (9888.HK) beat quarterly revenue estimates on Tuesday, underpinned by growth in its cloud business, even as it reported its first year-on-year quarterly revenue contraction in two years.Total revenue shrank by 5% to 29.65 billion yuan ($4.43 billion) in the second quarter, compared with analysts' average estimate of 29.30 billion yuan, according to Refinitiv data.U.S.-listed shares of the company rose 3.2% in premarket trading.Register now for FREE unlimited access to Reuters.comRegisterEven as Baidu's core advertising sales continu...
Former UK minister Gove backs Sunak, says he is quitting frontline politics – The Times
Politics

Former UK minister Gove backs Sunak, says he is quitting frontline politics – The Times

British Secretary of State for Housing and Communities Michael Gove arrives at 10 Downing street ahead of British Prime Minister Boris Johnson's weekly questions in parliament in London, Britain, June 15, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comRegisterAug 19 (Reuters) - Former British cabinet minister Michael Gove on Friday endorsed Rishi Sunak for prime minister and announced an end of his frontline political career, he said in an op-ed in The Times.Gove wrotein the op-ed that he thinks Liz Truss' campaign for 10 Downing Street "has been a holiday from reality."He said Truss' proposed cuts to national insurance would favour the wealthy, and that he cannot see how safeguarding the stock options of FTSE 100 executives should ever take precedence ...
AMC Entertainment beats quarterly revenue estimates, announces dividend
Entertainment

AMC Entertainment beats quarterly revenue estimates, announces dividend

An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 4 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) reported second-quarter revenue marginally ahead of Wall Street estimates on Thursday, as big-ticket films such as "Top Gun: Maverick" drew crowds to movie halls, driving a surge in box-office collections at the world's largest theater chain.AMC also announced a special dividend in the form of preferred stock, to paid on Aug. 19. The company will issue one preferred equity unit for each of the 516.8 million class A common stock.With COVID receding, consumers are increasingly returning to o...