Asian stocks edged higher on Friday, tracking the global lift in sentiment after the UK and the European Union struck a long-awaited Brexit deal, but concern about the Chinese economy is likely to cap gains with data expected to show weaker growth.
Asian stocks edged higher on Friday, tracking the global lift in sentiment after the UK and the European Union struck a long-awaited Brexit deal, but concern about the Chinese economy is likely to cap gains with data expected to show weaker growth. Sterling, which had enjoyed its biggest rising streak since October 1985 and hit a five-month high on the back of the Brexit deal, gave up ground on Friday morning amid doubts that the agreement would receive parliamentary approval. MSCI’s broadest index of Asia-Pacific shares outside Japan was up about 0.1% in early trade, echoing Wall …read more […]
Asian stocks edged higher on Friday, tracking the global lift in sentiment after the UK and the European Union struck a long-awaited Brexit deal, but concern about the Chinese economy is likely to cap gains with data expected to show weaker growth. Sterling, which had enjoyed its biggest rising streak since October 1985 and hit a five-month high on the back of the Brexit deal, gave up ground on Friday morning amid doubts that the agreement would receive parliamentary approval. MSCI’s broadest index of Asia-Pacific shares outside Japan was up about 0.1% in early trade, echoing Wall Street’s …read more […]
Oil prices were stable on Friday ahead of data that analysts say could show China, the world’s largest oil consumer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States.
Oil prices were stable on Friday ahead of data that analysts say could show China, the world’s largest oil consumer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. Global benchmark Brent crude oil futures fell by 9 cents, 0.2%, to $59.82 a barrel by 0039 GMT. U.S. West Texas Intermediate (WTI) crude futures were up by 4 cents, or 0.07%, to $53.97 per barrel. …read more […]
The chief executives of the three largest U.S. drug distributors and a drugmaker have been summoned to appear before a federal judge to discuss a proposal to resolve thousands of lawsuits alleging they fueled the U.S. opioid crisis, a person familiar with the matter said on Thursday.
AT&T and Elliott Management are talking about issues the activist hedge fund raised last month when it pushed for change at the U.S. telecommunications and media conglomerate, two people familiar with the matter said on Thursday. Elliott is pressing the telecommunications giant to cut costs, make management changes and scale back expansion aspirations in one of its most ambitious investor campaigns to date. The meetings have taken place since shortly after Elliott, one of the world’s most powerful activist investors, six weeks ago sent a four-part proposal for changes to AT&T. The fund says the changes could …read more […]
LONDON/WASHINGTON (Reuters) – Facebook’s plans to launch its Libra cryptocurrency faced a new hurdle on Thursday when the Group of Seven wealthy nations said such “stablecoins” should not be allowed to launch until the profound international risks they pose are addressed. When launched on a wide scale, stablecoins – digital currencies usually backed by traditional money and other assets – could threaten the world’s monetary system and financial stability, a G7 working group said in a report to finance ministers gathered in Washington for the IMF and World Bank fall meetings. The emerging technology, which like other cryptocurrencies …read more […]
Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater pre-salt zone showed signs of paying off. Investors and analysts have been watching the firm’s production figures closely in recent quarters, and the company’s ability to swiftly boost output is key to its current strategy. In a Thursday securities filing, Petrobras, as the firm is commonly known, said it produced 2.878 million barrels of oil equivalent per day (boepd) in the third quarter, up 9.3% from the previous quarter and 14.6% from the same period a …read more […]
Over the past decade or so, Goldman Sachs Group Inc has watched its annual trading profits fall 84%, as post-financial crisis regulations upended Wall Street. Now, bank executives are hoping they have figured out the key to a turnaround: asking traders to be more like investment bankers.
The United Auto Workers union said on Thursday workers at General Motors Co will stay off the job while they vote on a proposed contract that delivers higher pay for full-time workers and better terms for temporary workers, but allows the automaker to close three U.S. plants.
The opioid crisis has already cost the U.S. at least $631 billion, according to a study released this week by the Society of Actuaries.The figures cover the four-year period from 2015 to 2018, and by the end of this year, the tally will reach as high as $845 billion. Individuals and the private sector have borne about 70% of the burden, with federal, state and local governments bearing a bit less than a third. The study estimates that the cost across all levels of governments was $186 billion.The actuaries said the biggest cost was associated with lost earnings of those …read more […]
The former chief business officer of U.S. biotechnology company Osiris Therapeutics Inc has agreed to pay a $40,000 civil penalty for lying to auditors, the Securities and Exchange Commission said on Thursday.
(Bloomberg Opinion) — Investors looking for signs that the worst is over for the chip sector would be pleased by what Taiwan Semiconductor Manufacturing Co. served up Thursday. All of its key earnings data point to a rebound in demand, and more importantly to pragmatic inventory management after a glut last year dragged down the entire industry. TSMC’s third-quarter net income beat estimates and its fourth-quarter revenue outlook came in at the top of analysts’ expectations. But the standout headline from the company’s investor conference was its decision to boost its capital expenditure this year by close to 40%. By …read more […]
Saudi Aramco has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm, two sources familiar with the matter said on Thursday.
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