Business & Finance News
China’s crude oil throughput rose to a record in June, up 7.7% from a year earlier, following the start-up of two new, large refineries, official data showed on Monday.
China’s industrial output grew 6.3% in June from a year earlier, official data showed on Monday, picking up from May’s 17-year low and handily beating market expectations.
Growth in China’s new home prices cooled in June as sales shrank for a second month, but building starts and investment quickened, providing a cushion for the slowing economy while Beijing claims some wins in reducing market froth.
China’s first-half economic growth of 6.3% was “hard-won” and laid a good foundation for achieving a full-year growth target of between 6% and 6.5%, a spokesman for the country’s statistics bureau said on Monday.
China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure.
China’s daily crude steel output rose to record levels in June, according to Reuters calculations, even as anti-pollution production curbs pushed whole-month production slightly lower, official data showed on Monday.
China’s pork output fell by less than expected in the first half as the country tackles a devastating disease outbreak, although official data showed conflicting figures on the size of the decline in the hog herd.
Asian shares advanced on Monday as investors breathed a sigh of relief after encouraging Chinese data suggested the world’s second-biggest economy may be starting to stabilize thanks to ramped-up stimulus from Beijing.
Oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world’s largest crude oil importer.
The U.S. may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior U.S. official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly.
Asian shares started the week on a softer note on Monday after posting their first weekly decline since early June, while the dollar was on the defensive ahead of key economic data from China.
The U.S. may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior U.S. official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly.
Workers at seven Amazon sites across Germany will go on strike over pay for at least two days this week starting on Sunday night going into Monday, labor union Verdi said.
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation seen by Reuters.
Gilead Sciences Inc will invest $5.1 billion to raise its stake in Galapagos NV and partner with the Belgian-Dutch biotech firm to develop and commercialize its treatments for a ten-year period, the companies said on Sunday.
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