Asian shares fell to eight-week lows on Thursday as investors waited to see whether Chinese and U.S. trade negotiators can salvage a deal to stave off the threat of fresh U.S. tariff increases, which would damage global economic growth.
Japan’s Toyota Motor Corp and Panasonic Corp said they plan to establish a joint company to develop “connected” services to be used in homes and urban development.
Asian shares fell to six-week lows on Thursday as tensions rose ahead of last ditch U.S.-China trade talks which could sharply alter the direction of the global economy.
Takeda Pharmaceutical Co Ltd agreed to sell its dry eye drug to Swiss drugmaker Novartis AG for $3.4 billion and potential milestone payments of up to $1.9 billion, in the first divestment since its takeover of Britain’s Shire.
Toyota Motor Corp and Panasonic Corp are set to announce plans to establish a joint company to “connect” cars and homes, Kyodo news reported on Thursday, ahead of a joint news conference by the two companies in Tokyo.
U.S. President Donald Trump said on Wednesday that China “broke the deal” it had reached in trade talks with the United States, and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing “stops cheating our workers.”
Asian shares hit six-week lows in early trade on Thursday as increased tensions ahead of key Sino-U.S. trade negotiations fanned fresh concerns about the outlook for the global economy.
President Donald Trump said on Wednesday that China “broke the deal” in trade talks with Washington and would face stiff tariffs if no agreement is reached.
The benchmark S&P 500 fell on Wednesday for the third day in a row as investors remained cautious about the latest developments on U.S.-China trade talks even after hopeful comments from the White House regarding an eventual agreement.
Uber drivers in London and major U.S. cities held a series of strikes on Wednesday to protest the disparity between gig-economy conditions and the sums that investors are likely to make in Friday’s blockbuster stock market debut.
Walt Disney Co’s theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company’s bid to draw audiences to streaming media.
Wells Fargo & Co is creating a new unit tasked with satisfying U.S. regulatory requirements, according to an internal memo seen by Reuters.
The U.S.-China trade war entered a critical phase this week. The following timeline details key moments in the souring trade relationship between the world’s two largest economies.
U.S. President Donald Trump said on Wednesday he would be happy to keep tariffs on Chinese imports as the two countries prepare for new talks to try to rescue a faltering trade deal amid a sharp increase in U.S. duties.
Intel Corp shares declined 2.5 percent on Wednesday after executives forecast modest profit growth over the next three years, signaling it is likely to lag big rivals as the once-dominant chipmaker catches up in technology.
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