Business News
UK’s House of Fraser to close 31 stores, 6,000 jobs at stake
LONDON (Reuters) – British department store group House of Fraser said on Thursday it has proposed closing 31 stores in a move likely to result in 6,000 job losses.
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Business News
Honolulu lawmakers pass ‘surge pricing’ cap for ride-hailing companies
(Reuters) – Honolulu could become the first U.S. city to limit fares ride-hailing companies can charge when demand spikes, following a city council vote on Wednesday, the Honolulu Star-Advertiser newspaper reported.
Business News
UK’s House of Fraser to close 31 stores affecting 6,000 jobs
LONDON (Reuters) – House of Fraser said on Thursday it has proposed closing 31 department stores in Britain in a move that affects up to 6,000 jobs.
Business News
Asian shares hit 11-week high; euro, yields rise after ECB comments
TOKYO (Reuters) – Asian shares rose to a fresh 11-week high on Thursday, supported by sound economic fundamentals, while expectations the European Central Bank (ECB) may soon start to wind down its stimulus boosted the euro and global bond yields.
Business News
Fed clambers back to positive real rates, now debate is when to stop
WASHINGTON (Reuters) – The Federal Reserve will likely raise its target interest rate to above the rate of inflation for the first time in a decade next week, igniting a new debate: when to stop.
Business News
Billions in U.S. solar projects shelved after Trump panel tariff
(Reuters) – President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters.
Business News
Buffett, Dimon say quarterly profit forecasts harming economy: WSJ
(Reuters) – Billionaire investor Warren Buffett and JPMorgan Chase Chief Executive Jamie Dimon voiced concerns that the financial markets’ focus on short-term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance, according to the Wall Street Journal.
Business News
Daimler fights Tesla, VW with new electric big rig truck
PORTLAND, Ore./FRANKFURT (Reuters) – Daimler AG unveiled on Wednesday an all-electric big rig truck it promises to have in production in 2021, as the German automaker mounts a major challenge to European and American rivals, including new entrants like Tesla Inc .
Business News
Asian shares hit 2-1/2-month high; euro, yields up after ECB comments
TOKYO (Reuters) – Asian shares rose to a fresh 2-1/2-month high on Thursday, supported by sound economic fundamentals, while expectations the European Central Bank (ECB) could start to wind down its stimulus boosted the euro and global bond yields.
Business News
Macau clamps down on use of UnionPay cards to dodge currency controls
HONG KONG (Reuters) – Authorities in Macau, the world’s biggest gambling hub, have told financial institutions to tackle the illegal use of UnionPay cards to evade exchange controls, China’s latest move to clamp down on illicit capital outflows.
Business News
China says it does not want U.S. trade frictions to escalate
BEIJING (Reuters) – China’s Commerce Ministry said on Thursday that the country does not want an escalation of trade friction with the United States, and that some specific progress was made in talks that concluded over the weekend.
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Inside Intel's $60 Billion Personal Computer Opportunity
Intel wakes up and smells the money in the PC market. …read more […]
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China Publishes Final Rules for Big Tech Listings Trial Program
China published final rules of a trial program for securities that would allow companies such as Alibaba Group Holding Ltd. to list on domestic exchanges, a major step in the country’s push to bring some of the world’s biggest technology firms back home. The China Securities Regulatory Commission unveiled the details on its website late Wednesday. …read more […]
Business News
Strong fundamentals support Asian shares, Euro, yields up after ECB comments
TOKYO (Reuters) – Asian shares rose to 2 1/2-month high on Thursday, supported by strong economic fundamentals, while expectations the European Central Bank could start to wind down its stimulus boosted the euro and global bond yields.
Business News
Oil prices rise on Venezuelan supply troubles, but U.S. output surges
BEIJING (Reuters) – Oil prices rose on Thursday to shake off some of the previous session’s losses, supported by plunging exports by OPEC-member Venezuela.