The Japanese yen plumbed eight-month lows while China’s yuan climbed to its highest level since July on Tuesday as the U.S. Treasury Department reversed its decision in August to designate China as a currency manipulator.
Asian shares rose, China’s yuan jumped and safe-harbor assets slipped on Tuesday, amid signs of goodwill between China and the United States, as the world’s two biggest economies prepared to sign a truce in their bitter trade war.
Big e-commerce firms should not offer steep discounts, must disclose discounting policies and ensure they do not drive brick-and-mortar rivals out of business, India’s antitrust chief said as his commission launched a probe into Amazon.com and Walmart’s Flipkart.
British Prime Minister Boris Johnson said those opposed to the use of equipment made by China’s Huawei in the UK’s new 5G networks need to say what alternative technology should be used instead.
(Bloomberg Opinion) — “If I’d had more time,” the French mathematician Blaise Pascal once wrote, “I’d have written with more brevity.” Joe Kaeser, the chief executive officer of German industrial giant Siemens AG, should have heeded that dictum.His 1,800-word open letter this week explaining Siemens’s decision to provide rail signaling for the controversial Carmichael coal project in Australia must count as one of the strangest pieces of executive communication since Elon Musk last opened his mouth. Almost twice the length of “The Love Song of J. Alfred Prufrock,” it’s a stream-of-consciousness that veers in the space of a few paragraphs …read more […]
French Finance Minister Bruno Le Maire said on Tuesday he expected carmaker Renault to name its new chief executive in a few days.
China’s iron ore imports rose 0.47% in 2019 to hover just below their all-time annual peak, fueled by strong demand at steel mills and a second-half recovery in shipments from big miners after disruptions earlier in the year.
China’s trade surplus with the United States for December stood at $23.18 billion, Reuters calculation based on Chinese customs data showed on Tuesday, narrowing slightly from the $24.6 billion surplus posted for November.
China’s crude oil imports in 2019 surged 9.5% from a year earlier, setting a record for a 17th straight year, as demand growth from new refineries built last year propelled purchases by the world’s biggest importer, data showed on Tuesday.
China’s soybean imports in December surged 67% from a year earlier to a 19-month-high, customs data showed on Tuesday, as a flurry of U.S. and Brazilian cargoes booked earlier cleared customs.
China has pledged to buy nearly an additional $80 billion of manufactured goods from the United States over the next two years, plus over $50 billion more in energy supplies, according to a source briefed on a trade deal to be signed on Wednesday.
Asian shares rose, China’s yuan jumped and safe-harbor assets slipped on Tuesday, amid signs of goodwill between China and the United States, as the world’s two biggest economies prepared to sign a truce in their trade war.
(Bloomberg) — With tech earnings looming this month, investor attention is zeroing in on some of Asia’s largest chipmakers. And there’s reason for it: the sector’s influence on the region’s stocks has kept on growing.Taiwan Semiconductor Manufacturing Co. is set to report fourth-quarter results Thursday, potentially hitting record revenue of more than $10.2 billion and its highest quarterly gross margins since 2018, Bloomberg Intelligence analyst Charles Shum said in a Jan. 7 preview. TSMC shares are up more than 4% this month and touched an intraday high Tuesday.“Many of TSMC’s customers such as Huawei, Qualcomm and Mediatek are quickening their …read more […]
Amazon.com Inc will ask a judge to temporarily block Microsoft Corp from working on a $10 billion cloud contract from the Pentagon, a court filing showed on Monday.
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