Business & Finance News
Asian stocks inched higher on Monday, with a rebound in the Hong Kong market helping the mood, as investors remained cautious ahead of a closely-watched Federal Reserve meeting.
Target Corp on Sunday said it was unable to process select card payments at some stores for nearly 90 minutes due to a vendor-related issue – the second consecutive outage faced by the retailer in a week.
Asian shares got off to a shaky start on Monday as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check.
Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.
Huawei Technologies Co Ltd is preparing for a 40% to 60% decline in international smartphone shipments, Bloomberg reported on Sunday.
Companies listed in Britain will be able to sell shares in China on Monday with the launch of a long-awaited London-Shanghai Stock Connect project that finance minister Philip Hammond called a chance to deepen “global connectivity”.
Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said.
Deutsche Bank is planning to overhaul its trading operations by creating a “bad bank” to hold tens of billions of euros of assets and shrinking or shutting its U.S. equity and trading businesses, the Financial Times reported on Sunday.
Wall Street bank Goldman Sachs Group Inc is combining its private-investing arms, with the resulting new division to have about $140 billion in assets, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Deutsche Bank is planning to overhaul its trading operations, including the creation of a “bad bank” to hold tens of billions of euros of assets and shrinking or shutting its U.S. equity and trading businesses, the Financial Times reported on Sunday.
Goldman Sachs economists said on Sunday they are skeptical of “insurance” U.S. interest rate decreases from the Federal Reserve to forestall possible slowing in U.S. economic growth due to global trade tensions.
The head of Boeing Co said on Sunday the U.S. planemaker had made a mistake in implementing a cockpit warning system on the 737 MAX and predicted it would take time to rebuild the confidence of customers in the wake of two fatal crashes.
The Canadian government’s contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris.
Canada looks set to approve a hotly-debated plan to expand an oil pipeline this week, people familiar with the process told Reuters, but the move is unlikely to help Prime Minister Justin Trudeau rebuild flagging support ahead of an October election.
Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world’s largest planemakers as they arrive at this week’s Paris Airshow with little to celebrate despite bulging order books.
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