The U.S. government widened its trade blacklist to include some of China’s top artificial intelligence startups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week.
The European Union’s finance commissioner pledged on Tuesday, if he is reappointed, to propose new rules to regulate virtual currencies such as Libra, the currency Facebook plans to launch.
U.S. sports brand Vans has removed “a small number” of submissions in a sneaker design competition including one apparently giving a shout out to Hong Kong’s pro-democracy protests, as companies weigh the risks of angering China. Global companies are walking a tightrope in their marketing campaigns, fearing a backlash from Chinese customers if deemed to be expressing solidarity with the anti-government protests that have plunged Hong Kong into its worst crisis in decades. The U.S. luxury jewellery retailer Tiffany & Co deleted a twitter advertisement posted on Monday showing a female model with her hand covering her right …read more […]
Scottish Golf courses owned by President Donald Trump’s family business posted further losses last year, according to accounts filed in Britain in recent days.
China’s foreign ministry said on Tuesday that China will continue to take firm and resolute measures to protect its sovereign security, when asked about the U.S. blacklisting of Chinese firms.
(Bloomberg) — China signaled it would hit back after the Trump administration placed eight of the country’s technology giants on a blacklist over alleged human rights violations against Muslim minorities.Asked on Tuesday if China would retaliate over the blacklist, foreign ministry spokesman Geng Shuang told reporters “stay tuned.” He also denied that the government abused human rights in the far west region of Xinjiang.“We urge the U.S. side to immediately correct its mistake, withdraw the relevant decision and stop interfering in China’s internal affairs,” Geng said. “China will continue to take firm and forceful measures to resolutely safeguard national sovereignty, …read more […]
Hong Kong’s bourse on Tuesday scrapped its unsolicited $39 billion approach for London Stock Exchange Group (LSE) after failing to convince LSE management to back a move that could have transformed both global financial services giants.
Hong Kong Exchanges and Clearing (HKEX) has scrapped its unsolicited $39 billion approach for London Stock Exchange Group after failing to convince LSE management to back a move that would have transformed both financial services giants.
(Bloomberg) — EasyJet Plc said earnings for the year through September were toward the top end of its forecasts, helped by strikes at British Airways and Ryanair Holdings Plc.The unrest at EasyJet’s biggest rivals spurred demand and sent revenue per seat, a proxy for fares, up 0.8% in the second half despite earlier predictions of a slide, the Luton, England-based carrier said in a statement Tuesday.The figures weren’t enough to quell investor concerns that EasyJet had relied too much on disruption elsewhere, and that it faces tough times in an operating environment that has seen a spate of travel-company collapses …read more […]
Oil prices rose on Tuesday as unrest in crude producers Iraq and Ecuador raised supply concerns and demand worries were put on hold as investors awaited the outcome of U.S.-China trade talks this week.
Strong sales of Samsung Electronics’ Galaxy Note 10 smartphone series are limiting forecast profit falls at the South Korean tech giant, raising hopes it is getting back on a growth track after years of moribund sales.
Libor is an interest rate based on quotes from banks on how much it would cost to borrow money from each other. It is a price reference for financial contracts worth more than $300 trillion globally, from complex derivatives to home loans and credit cards.
On June 30, British bank NatWest sent out an arcane-sounding press release – bus operator National Express had become the first company to take out a loan based on Sonia, a replacement for scandal-hit interest rate benchmark Libor.
Prospects for progress in U.S.-China trade talks dimmed on Monday after Washington blacklisted Chinese companies over Beijing’s treatment of predominantly Muslim ethnic minorities, and President Donald Trump said a quick trade deal was unlikely.
(Bloomberg Opinion) — HSBC Holdings Plc’s interim Chief Executive Officer Noel Quinn is considering going much further than his former boss in cutting fat at the bank. He may triple job reductions announced just two months ago to as much as 6% of the workforce.Sure enough, Quinn may be trying to impress the board and investors to secure the No. 1 position at HSBC on a permanent basis. But his rivals at other financial firms could follow in his footsteps: Fresh revenue pressure and a lingering problem with costs at European banks don’t give many alternatives.HSBC is reportedly questioning why …read more […]
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