Business & Finance News
Asian share markets consolidated their weekly gains on Friday as Sino-U.S. talks produced a lot of headlines but no conclusions, while caution ahead of U.S. payrolls and a holiday in China dampened volatility.
Samsung Electronics Co Ltd said on Friday it was heading for its lowest quarterly profit in more than two years as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
Oil prices fell on Friday, with Brent slipping away from the $70 mark after briefly rising above that level in the previous session, as traders fretted about progress in U.S.-China talks to end a trade war.
China’s lengthy approval process for genetically modified crops remains a sticking point in talks to end the trade war between China and the United States, according to two sources with knowledge of the talks.
Asian share markets consolidated weekly gains on Friday as Sino-U.S. talks dragged on with no concrete conclusions, while caution ahead of U.S. payrolls and a holiday in China and Hong Kong dampened volatility.
U.S. President Donald Trump said on Thursday the United States and China were getting very close to a trade deal that could be announced within four weeks, but he issued a warning to Beijing that, absent a pact, it would be difficult to allow trade to continue.
Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said.
South Korea’s Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
U.S. securities regulators shot down attempts by Amazon.com Inc to stop its investors from considering two shareholder proposals about the company’s controversial sale of a facial recognition service, a sign of growing scrutiny of the technology.
Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and energy blackouts hit the OPEC nation’s oil industry.
Global stocks held near the unchanged mark on Thursday, as investors looked for more detailed signs of progress in U.S.-China trade talks while disappointing economic data out of Germany knocked the euro.
U.S. President Donald Trump said on Thursday a trade deal with China was getting very close and could be announced in about four weeks, but warned it would be difficult to let China keep trading with the United States if remaining issues were not resolved.
Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer.
U.S. President Donald Trump said on Thursday a trade deal with China was getting very close and could be reached in about four weeks.
U.S. President Donald Trump plans to nominate former pizza chain executive and Republican presidential candidate Herman Cain for a seat on the Federal Reserve Board, where he will help set interest rates for the world’s biggest economy.
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