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According to sources, members of the Irish Football Association have approved a resolution calling on UEFA to suspend Israels participation in European competitions.On November 8th, the Russian Ministry of Defense reported that Russian armed forces launched a large-scale attack on Ukrainian military-industrial enterprises and related energy facilities using high-precision weapons from the night of November 7th to the early morning of November 8th, hitting all targets. The report stated that the high-precision weapons used by Russia included the Kinzhal hypersonic ballistic missile. Russian air defense systems shot down 178 Ukrainian drones and two guided-missile bombs in the past 24 hours. According to reports from the Ukrainian Air Force and various levels of government agencies on November 8th, from the night of November 7th to the early morning of November 8th, Russian forces launched a large-scale missile and drone attack on Ukraine, damaging energy and railway facilities in Poltava, Kharkiv, Kyiv, and Dnipropetrovsk regions. Emergency power outages were implemented in multiple areas, including Kyiv, Kyiv, and Kharkiv. As of the morning of November 8th, the attacks had resulted in four deaths. The Ukrainian State Electricity Company posted on social media that day that several Ukrainian regions were experiencing emergency power outages due to the airstrikes, and industrial users continued to experience power rationing.Egypts Ministry of Petroleum: A new shipment of liquefied natural gas, amounting to 150,000 cubic meters, has been exported to Greece via a vessel chartered from Shell.On November 8, Chicago Mayor Brandon Johnson addressed the UN Human Rights Council on November 7. Johnson stated that the US federal governments refusal to accept review by the Human Rights Council was an attempt to evade scrutiny. He argued that the Human Rights Council should apply the same accountability standards to the US federal government as it does elsewhere in the world, and that no country is above international law. Johnson called on the Human Rights Council to send independent experts to Chicago to investigate the challenges facing the city; he also urged the Council to take further accountability measures, including convening a special session to investigate the worsening human rights crisis in the United States. The UN Human Rights Council was scheduled to hold its fourth round of Universal Periodic Review (UPR) on November 7, but the US representative refused to attend, preventing the review from proceeding normally. The Human Rights Council adopted a decision that day urging the United States to resume cooperation with the UPR mechanism.Russian Ministry of Defense: Russian troops have occupied the village of Vovche in the Dnipropetrovsk region of Ukraine.

After Earnings, Shares of Nintendo, SoftBank, And Sharp in Japan Fall

Charlie Brooks

Feb 08, 2023 14:21

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On Wednesday, shares of Nintendo Co Ltd (TYO:7974), SoftBank Group Corp, and Sharp (OTC:SHCAY) Corp plummeted after the businesses shocked investors with poor earnings, highlighting the bleak demand forecast for global technology industries.


The maker of the Switch (NYSE:SWCH) video game console revealed decreased sales and earnings and lowered its full-year projection, causing shares of Nintendo to decline by 6%. It also lowered its sales projections for the Switch system. Nintendo's stock was poised for its largest one-day decline since November.


SoftBank's stock slumped 6.2% after it reported a quarterly loss, as its huge Vision Fund investment subsidiary posted its fourth consecutive quarterly loss. The worldwide investor in technology also provided a cautious forecast.


Sharp Corp fell 11.2%, putting it on course for its largest one-day decline in three and a half years.


The manufacturer of displays and telecommunications equipment, a subsidiary of Taiwan's Foxconn, announced a quarterly operational deficit and forecast a loss for the entire year.


The results of the three companies demonstrate how a decline in consumer demand caused by rising inflation and interest rates has impacted the tech industry.


Nintendo is experiencing a decline in Switch sales, while SoftBank has seen its enormous technology portfolio's valuation decline.


"The situation remains difficult," SoftBank's chief financial officer Yoshimitsu Goto said in a conference Tuesday following the release of the company's quarterly results, referring to the tech industry's broader challenges.


The falls in technology companies pushed the Nikkei 225 index marginally into negative territory.


On Smartkarma, analyst Mark Chadwick stated, "The Nintendo Switch is now six years old, and demand is currently exhausted."


"According to our hypothesis, the hardware cycle has reached its apex, and the share price will fall in parallel with the revenue decline."