Aug.12 — The Turkish lira has now stemmed declines after the banking regulator said it’s limiting swap transactions as the country faces another week of potential market turmoil. Turkey’s president lashed out at the U.S. over the weekend, threatening to find new alliances as well as new markets. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Asia.” …read more […]
When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea’s annual average salary.
A lot was riding on Universal Display’s second-quarter results and especially its outlook for the rest of 2018. …read more […]
The euro was under pressure in Asia on Monday as fears about the exposure of European banks to crisis-hit Turkey sent investors scurrying to safe havens including the U.S. dollar, Swiss franc and yen.
The euro was under pressure in Asia on Monday as fears about the exposure of European banks to crisis-hit Turkey sent investors scurrying to safe havens including the U.S. dollar, Swiss franc and yen. Regional stocks also looked likely to suffer as Turkey’s troubles tainted emerging markets in general, while boosting highly rated sovereign bonds. Much of the early action was in currencies with the euro gapping lower as the Turkish lira took another slide to all-time lows around 7.2400. …read more […]
HOUSTON (Reuters) – The heavy oil hydrocracking unit (HCU) at Royal Dutch Shell Plc’s (RDSa.AS) 209,787 barrel per day (bpd) Convent, Louisiana, refinery was shut after a fire early on Sunday, sources … …read more […]
Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc CEO Elon Musk’s proposed $72 billion deal to take the U.S. electric car maker private, despite acquiring a minority stake in the company this year, two sources familiar with the matter said.
President Donald Trump, using Twitter again to criticize a company he once hailed as a “true American icon,” gave his backing to Harley-Davidson Inc. motorcycle owners who may boycott the manufacturer if it moves some production out of the U.S. “Most other companies are coming in our direction, including Harley competitors. Great! Most other companies are coming in our direction, including Harley competitors. …read more […]
The Turkish lira sank to a fresh record low of 7.24 to the dollar in early Asia Pacific trade, as investor worries over the state of the economy and deteriorating ties with the United States continued to drag down the currency. The Turkish lira has lost about 40 percent of its value this year, largely over worries about President Tayyip Erdogan’s influence over the economy, his repeated calls for lower interest rates in the face of high inflation, and a row with the United States. …read more […]
Revenue and profit surged in this small-but-growing business segment. …read more […]
Will crowdsourced deliveries help the two companies counter Alibaba? …read more […]
Turkish President Tayyip Erdogan stood by his opposition to high interest rates on Sunday despite sharp falls in the currency, saying the lira’s weakness did not reflect the country’s economic realities. Speaking to supporters in Trabzon on the Black Sea coast, Erdogan dismissed suggestions that Turkey was in a financial crisis like those seen in Asia two decades ago, dampening expectations of a rate rise to support the currency. The Turkish lira has lost about 40 percent of its value this year, largely over worries about Erdogan’s influence over the economy, his repeated calls for lower interest rates …read more […]
While the popular low-fare carrier originally hoped to operate its first scheduled flights to Hawaii later this year, that now seems unlikely to happen. …read more […]
No U.S. state or territory has done this before. …read more […]
President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel. The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the United States to its overseas facilities to avoid the tariffs imposed by the trading bloc in retaliation for Trump’s duties on steel and aluminum imports. In response, Trump has criticized Harley Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to …read more […]
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