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 […]
Samsung Electronics on Tuesday predicted its operating profit for the last quarter will fall by more than half from a year earlier amid sluggish global demand for computer chips. The South Korean technology giant estimated an operating profit of 7.7 trillion won ($6.4 billion) for the July-September quarter, which would be a 56.2% drop from the same period last year. South Korea’s biggest company is suffering from the slowdown in its core industry, though analysts say the demand will likely revive as next-generation networks are rolled out. …read more […]
The U.S. government expanded 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.
(This September 25 story has been refilled to correct name of club to Manchester City, not Manchester United, in paragraph 5)
(Bloomberg) — Stocks rose in Asia with U.S. futures following confirmation from China about the country’s high-level delegation heading for trade talks with the U.S. in Washington later this week.European futures also advanced, while the yuan rose in Shanghai. Treasury yields ticked up. Equity benchmarks saw solid gains from Tokyo and Seoul to Shanghai and Hong Kong — where trading showed little concern about the violence in public protests. Crude oil gained to around $53 a barrel in New York.Technology shares led gains in Asia in the wake of Samsung Electronics Co. posting earnings that beat analyst estimates, with news …read more […]
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