(Bloomberg) -- Tencent Holdings Ltd. logged its first-ever revenue decline after online advertising sales fell by a record, underscoring the extent to which China’s worsening economy is hurting its biggest corporations.Most Read from BloombergApple Targets Sept. 7 for iPhone 14 Launch in Flurry of New DevicesBiden Called Cheney After Her Loss to Trump-Backed ChallengerLiz Cheney Prepares for Next Act in GOP Where Trump Holds SwayRussia's War in Ukraine Is How the Soviet Union Finally EndsBill Ga
Yahoo Finance's Jared Blikre breaks down the market losses heading into the closing bell, also looking at the energy sector, ARK ETF components, Chinese stocks, and semiconductors.
(Bloomberg) -- Tencent Holdings Ltd. reported its first quarterly drop in workforce in almost a decade, as the layoffs rippling through the global tech sector finally engulf China’s biggest social media player. The country’s most valuable company reported it employed 110,715 at the end of June, down 4.7% from the end of March in the first staffing cutback since 2014, according to its latest filing. Tencent revealed the net reduction after reporting its quarterly revenue missed estimates.China’s