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China, U.S. heads of state maintain contact on trade negotiations
China’s Foreign Ministry said on Thursday that the Chinese and U.S. heads of state have been maintaining contact through various means on trade negotiations.
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Business News
China’s auto market could shrink about 8% this year: industry official
Auto sales in China may skid to 26 million this year, a drop of around 8%, a senior industry executive warned, as the world’s largest auto market braces for a second year of contraction amid slowing economic growth and tighter vehicle emissions standards.
Business News
Fiat Chrysler and Peugeot join forces to create world’s No.4 carmaker
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.
Business News
Fiat Chrysler to join forces with Peugeot to create world’s fourth-largest carmaker
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.
Business News
Fiat Chrysler-PSA must keep French industrial footprint: France’s Le Maire
France welcomed a planned merger between Italy’s Fiat Chrysler and French Peugeot maker PSA , but would be vigilant about the firm’s French industrial footprint and about maintaining its decision centers, French Finance Minister Bruno Le Maire said in a statement on Thursday.
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Can Novo Nordisk A/S's (CPH:NOVO B) ROE Continue To Surpass The Industry Average?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like… …read more […]
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Fiat Chrysler to join forces with Peugeot to create world's fourth carmaker
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker. The boards of the two groups have mandated their respective teams to finalise discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement. Fiat Chrysler (FCA) will pay its shareholders a 5.5 billion euro ($6.1 billion) special dividend and hand them its shares in its robot-making unit Comau, they said. …read more […]
Business News
Exclusive: Beijing could ax extra tariffs on U.S. farm products to boost imports – China trade association chief
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.
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Sinopec's third-quarter profit drops a third on fuel glut, lower oil prices
BEIJING/SINGAPORE (Reuters) – Sinopec Corp, Asia’s top refiner, posted a 35% fall in third-quarter net profit versus a year earlier, according to Reuters calculations based on a company filing, dragged down by narrowing refining margins and weaker global oil prices. The decline follows the launch of two privately owned mega-refineries and the expansion of other major refining plants, which added to the fuel surplus in China’s refined oil market, slashing profit margins for oil processors. Sinopec reported 11.94 billion yuan ($1.69 billion) net earnings for the July-September period, down just over a third from the same period …read more […]
Business News
HSBC, StanChart cut key Hong Kong rate as recession looms
Two of Hong Kong’s biggest banks on Thursday cut their key benchmark rates in the city, their largest market, which is bracing for its first recession since the global financial crisis following months of protests.
Business News
Asian stocks rally after Fed cut, BOJ sends clearer easing signal
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.
Business News
Exclusive: Beijing could axe extra tariffs on U.S. ag products to boost imports – China trade association chief
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.
Business News
Boeing says up to 50 planes grounded globally over cracks: AFP
Boeing has grounded up to 50 planes globally over cracks, Agence France Presse https://bit.ly/3238KJC news agency reported on Thursday.
Business News
Chile’s APEC cancellation creates hurdle for U.S.-China trade deal
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.
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GRAPHIC-Are the Fed's rate cuts helping? Have a look
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 […]