Beijing could remove extra tariffs imposed since last year on U.S. farm products to ease the way for importers to buy up to $50 billion worth, rather than direct them to buy specific amounts, the head of a government-backed trade association said.
Boeing has grounded up to 50 planes globally over cracks, Agence France Presse https://bit.ly/3238KJC news agency reported on Thursday.
Leaders from the United States and China encountered a new obstacle in their struggle to end a damaging trade war on Wednesday, when the summit where they were supposed to meet was canceled because of violent protests.
Fed Chair Jerome Powell said as much on Wednesday after the central bank cut borrowing costs for the third time since July, saying officials “see now more clearly the effects of more accommodative monetary policy on various kinds of consumer activity.” “You are seeing strong durable goods sales. “More broadly, monetary policy is also supporting household spending and home buying by keeping the labor market strong, keeping workers incomes rising, and keeping consumer confidence at high levels.” Indeed, there is evidence that Powell and his colleagues are not tooting their own horns without some justification. The …read more […]
Factory activity in China shrank for the sixth straight month in October and by more than expected, while service sector growth eased as firms grapple with the weakest economic growth in nearly 30 years.
Samsung Electronics warned of a smaller mobile business profit on Thursday as its rival Apple gave a positive iPhone sales outlook, dampening hopes new models will help the world’s largest smartphone vendor finally get back on a growth track.
Q3 2019 Mastercard Inc Earnings Call …read more […]
Airlines have completed one round of checks triggered by engine failures on the Airbus A220 and have found no faults, an executive at engine maker Pratt & Whitney said on Thursday.
(Bloomberg) — Samsung Electronics Co. posted better-than-expected earnings and projected a gradual recovery in the memory chip market in 2020 as fifth-generation wireless technology rolls out globally.Shares in South Korea’s largest company climbed as much as 2% after it posted net income of 6.1 trillion won ($5.2 billion) for the September quarter, surpassing the 5.5 trillion won average of projections. Samsung, which reported a 56% slump in operating profit earlier this month, said it expects memory chip demand to gradually climb out of its funk in the fourth quarter and bounce back next year. The company foresees capital spending of …read more […]
Canada’s Bombardier is in advanced talks to sell three facilities, including its Belfast wing-making plant, to Spirit AeroSystems for more than $1 billion in cash and assumed liabilities, two sources familiar with the matter told Reuters on Thursday.
Chinese officials voiced optimism that Beijing and Washington can find a way to clinch the so-called Phase One trade deal next month, despite the abrupt cancellation of the summit where the heads of state were to meet to formally sign the deal.
Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and U.S. Treasury yields declined.
The U.S. Justice Department on Wednesday struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a U.S. anti-corruption probe.
South Korean carrier Air Premia announced on Wednesday a provisional deal to buy five Boeing 787-9 Dreamliner jets worth $1.4 billion at list prices, becoming the latest new airline to enter the highly competitive low-cost, long-haul market.
The U.S. Justice Department on Wednesday reached its biggest civil forfeiture deal in agreeing to recover almost $1 billion in funds Malaysian financier Jho Low and his family had allegedly misappropriated from Malaysian state fund 1MDB.
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