U.S. stocks closed up but well below their session highs on Wednesday as investors pulled back in the last few minutes of trading despite optimism about U.S.-China trade relations and some reassuring signs in British politics.
Shares of China-based music streaming company Tencent Music Entertainment rose more than 13 percent in their U.S. debut on Wednesday, as investors shrugged off volatile markets to grab a piece of the fast-growing music streaming industry.
Intel Corp said on Wednesday that it has developed a way to stack its computing circuits on top of one another in a bid to regain the lead in chip manufacturing technology that it has lost to rivals like Taiwan Semiconductor Co Ltd in recent years.
Renault told alliance partner Nissan to stop contacting the French company’s directors ahead of a Thursday board meeting as the Japanese automaker tried to share evidence of wrongdoing by its ousted chairman Carlos Ghosn, two sources said.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
A top executive of Chinese telecoms giant Huawei Technologies Co Ltd was granted bail by a Canadian court on Tuesday, 10 days after her arrest in Vancouver at the request of U.S. authorities sparked a diplomatic dispute.
Google chief Sundar Pichai has faced accusations of political bias from US politicians.
Mr Pichai was being quizzed by members of the House Judiciary Committee about the way his tech firm runs it business.
Google was accused of having “programmed” bias against conservative views into its algorithms.
Mr Pichai denied the accusation saying he had “issues” with studies that claimed to show the firm’s search results excluded right-wing views.
Republican committee member Lamar Smith said conservative voices were being “muted” via Google’s search results.
“Such actions pose a grave threat to our democratic form of government,” he said.
“This does not happen by accident, it is baked in to the algorithms.”
Mr Pichai said independent studies had not uncovered any bias and added that his business was “transparent” about the way its search results were generated.
“We evaluate our studies and our research results,” said Mr Pichai.
“We have a wide variety of sources, from both left and right.”
He added that it was “impossible” for any individual or group of individuals to manipulate its algorithms.
In response to a further question about perceived bias, he said: “I’m confident we don’t approach our work with any political bias.”
He added: “It’s important that we look at outcomes and assess that there’s no evidence of bias.”
Mr Pichai was also asked about the work Google was doing in China on the controversial “dragonfly” project.
This is believed to be a search engine drawn up under the oversight of the Chinese government that would censor topics at the behest of the regime.
Representative Sheila Jackson Lee suggested the work could “censor a Chinese person’s lifeline to democracy”.
She asked: “How can you do that?”
In response, Mr Pichai said: “Right now we have no plans to launch in China. We don’t have a search product there.
He said all efforts were “internal” and did not currently involve discussions with the Chinese government.
“Our core mission is to provide users with access to information and getting access to information is an important human right,” said Mr Pichai. “We are always compelled across the world to try hard to provide that information.”
In response to further questions, Mr Pichai said the company would be “fully transparent” with politicians if the company released a search service in China.
Mr Pichai was questioned extensively about the amount of information that Google collected and what it did with the “mountains” of data it gathered.
The Google boss said many times that it gave people “choices” about the types of data it collected and that it regularly reminded people about their privacy settings.
He said 20 million people a day adjusted their privacy settings to change the types of information they let Google amass.
Mr Pichai had been under growing pressure to testify after he snubbed an earlier hearing called by the Senate Intelligence Committee.
Executives from Facebook and Twitter attended the September event where they faced tough questions.
In a document released before his testimony, Mr Pichai paid tribute to staff at Google and said it had worked to “empower people around the world, especially in the US”.
The Congressional session comes the day after the search giant announced that it was shutting down its Google+ social network.
The decision came after it found a vulnerability that could have exposed data on 52.2 million users.
McDonald’s Corp said on Tuesday it plans to reduce the use of antibiotics in its global beef supply, fueling projections that other restaurants will follow suit.
The S&P 500 and Dow ended a volatile session down slightly on Tuesday as investor optimism over China-U.S. trade talks was offset by U.S. President Donald Trump’s threat to shut down the U.S. government and by political uncertainty in Britain.
Verizon Communications Inc said on Tuesday it will take a $4.6 billion charge related to its Oath media assets – which includes digital media sites Yahoo and AOL – and a severance charge of up to $2.1 billion for voluntary buyouts in the fourth quarter.