Business & Finance News
China’s massive Belt and Road infrastructure program should only go where it is needed and where the debt it generates can be sustained, International Monetary Fund Managing Director Christine Lagarde said on Friday.
Nearly 40 world leaders and scores of finance officials, including International Monetary Fund Managing Director Christine Lagarde, are gathered in Beijing for China’s second Belt and Road infrastructure summit, but the World Bank’s new president isn’t among them.
The world’s biggest advertising company WPP reported an 8.5 percent slump in first-quarter underlying sales in North America, its biggest market, due to client losses that held the overall group back.
Daimler’s first-quarter operating profit fell 16 percent despite a 718 million euros one-off gain, it said on Friday, as a 4 percent drop in sales of Mercedes-Benz cars, higher raw material costs and investments weighed on earnings.
Daimler said its first-quarter operating profit fell 16 percent, weighed down by a 4 percent drop in sales of Mercedes-Benz cars, higher raw material costs and investments into its Trucks division.
China’s Belt and Road initiative must be green and sustainable, President Xi Jinping said at the opening of a summit on his grand plan on Friday, adding that the massive infrastructure and trade plan should result in “high-quality” growth for everyone.
Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported.
Peru will sign a memorandum of understanding to join China’s Belt and Road infrastructure initiative in coming days, China’s ambassador said on Wednesday, despite recent warnings from the United States about the Beijing’s rise in Latin America.
China’s top feed producer, New Hope Group, said on Thursday it is building three pig farms in neighboring Vietnam, even as an incurable pig disease spreads through the Southeast Asian country.
The U.S. economy likely maintained a moderate pace of growth in the first quarter, which could further dispel earlier fears of a recession even though activity was driven by temporary factors.
Citron Research Founder Andrew Left is no longer long or short on Tesla Inc, he said in an emailed statement on Thursday.
Asian shares drifted off in sleepy trade on Friday, while the dollar held around two-year highs on speculation that figures later in the day will show the U.S. economy outperforming the rest of the developed world.
China’s Belt and Road initiative must be green and sustainable, President Xi Jinping said at the opening of a summit on his grand plan on Friday, adding that the massive infrastructure and trade plan should result in “high quality” growth for everyone.
Nintendo Co Ltd’s shares fell as much as 5 percent in early Tokyo trading, a day after the gaming company offered conservative earnings guidance and urged caution on the roll-out of its Switch console in China.
Shareholders summoned by Hong Kong Airlines this month for a meeting were greeted with some shocking news: the airline needed at least HK$2 billion in fresh funds or it would lose its operating license.
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