Chinese Vice Premier Liu He goes to Washington for trade talks on Thursday and Friday, setting up a last-ditch bid for progress toward a deal that would avoid a sharp increase in tariffs on Chinese goods ordered by U.S. President Donald Trump.
World shares held near five-week lows on Wednesday as renewed trade tensions and fears for the global economy drove investors into the safety of bonds and the Japanese yen, with the latter rising to a six-week high against the dollar.
Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up its stake in Yahoo Japan and turn the internet company into a subsidiary, which would help boost its profit by 24 percent this year.
Tencent Holdings Ltd on Wednesday shut down its test version of global blockbuster “PlayerUnknown’s Battlegrounds” in China and shifted users to a similar, more patriotic video game which, unlike PUBG, has regulatory approval to generate revenue.
Swedish luxury electric carmaker Polestar, which is jointly owned by Volvo Cars and its Chinese parent Geely, is setting up an R&D center in Britain to develop future passenger cars, it said on Wednesday.
Hedge funds paying upward of $100,000 per year to track the flights of corporate jets were vindicated when Occidental Petroleum Corp announced two deals last week that matched locations the U.S. oil and gas company’s private plane had recently visited.
Japanese telco SoftBank Corp reported a 17 percent drop in quarterly operating profit, missing analysts’ expectations even as revenue grew.
Japan’s SoftBank Corp said on Wednesday it would buy 456.5 billion yen ($4.15 billion) worth of new shares to be issued by Yahoo Japan Corp, boosting its stake to 44.64 percent from 12.08 percent.
In 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could earn more than the $215 he received each month for making flatbreads at a roadside stall.
Siemens’ decision to separate and spin off its struggling gas and power business is intended to strengthen the group’s remaining businesses, Chief Executive Joe Kaeser said on Wednesday.
JPMorgan could become the first foreign company to own a majority stake in its Chinese mutual fund business, after its joint venture partner put a crucial 2 percent of the business up for sale that analysts expect the Wall Street bank to lap up.
China’s exports unexpectedly shrank in April but imports surprised with their first increase in five months, painting a mixed picture of the economy as Washington ratchets up pressure on Beijing with threats of more punishing tariffs.
China’s imports of crude oil, coal and soybeans rose in April from the same month last year, while cargoes of iron ore and copper dropped, customs data showed on Wednesday.
Toyota Motor forecast lower growth in operating profit for the current year on an expected drop in revenue and weaker vehicle sales in Japan and North America, underscoring the hard task ahead as it gears up to face a rapidly shifting industry.
Asian equities tracked Wall Street’s slide on Wednesday, while investors switched to safe-haven government bonds, driven by fears that global growth will suffer as a potential trade deal between the United States and China appeared to be unraveling.
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