Asian shares were led lower on Thursday as the Hong Kong market fell for second consecutive session following a day of massive street protests, while oil prices flirted with five-month lows due to higher U.S. crude inventories and a bleak demand outlook.
Asian stocks stuttered on Thursday, dogged by the uncertainty over an intractable U.S.-China trade dispute, while oil prices flirted with five-month lows thanks to higher U.S. crude inventories and a bleaker demand outlook.
The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters.
Nissan Motor’s chief executive said on Thursday he would discuss differences in views over the automaker’s plan to reform its governance directly with Renault, calling the French car maker an important shareholder and partner, Jiji news agency reported.
Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an online start-up it acquired in 2016 for $3.3 billion, after it failed to live up to the world’s largest retailer’s e-commerce ambitions.
Engine maker CFM International is poised to announce one of the world’s largest jet engine orders with a deal for more than 600 engines from India’s IndiGo, industry sources said.
U.S. President Donald Trump declined to set a deadline on Wednesday for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but “testy” after China walked back commitments for a trade deal.
The Republican chairman of the Senate’s antitrust panel criticized plans by the Justice Department and Federal Trade Commission to potentially investigate four of the biggest U.S. tech firms.
Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an e-commerce retailer it acquired in 2016 for $3.3 billion, and said it will eliminate the online business’s president.
U.S. President Donald Trump said on Wednesday he was sure China and Hong Kong would be able to “work things out” after mass protests in the city against an extradition bill that would allow people to be sent to mainland China for trial.
Huawei Technologies Co Ltd has told Verizon Communications Inc that the U.S. carrier should pay licensing fees for more than 230 of the Chinese telecoms equipment maker’s patents and in aggregate is seeking more than $1 billion, a person briefed on the matter said on Wednesday.
China’s Huawei Technologies Co Ltd, the world’s biggest telecoms equipment maker, argued on Wednesday that Washington should scrap plans to prohibit wireless companies from using U.S. government funds to buy Huawei gear for their networks.
The United States is open to dialogue to resolve trade differences with India by allowing Americans companies more access to Indian markets, U.S. Secretary of State Mike Pompeo said on Wednesday ahead of a visit to New Delhi later this month.
Oil prices slid 4% on Wednesday on higher U.S. crude inventories and a bleaker demand outlook, while uncertainty over the U.S.-China trade war and U.S. economic data weighed on stocks.
Wall Street ended down slightly on Wednesday, with bank stocks declining as prospects of a U.S. interest rate cut rose and energy shares tumbling along with oil prices.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
