Business & Finance News
Shares in Asia recouped early losses on Friday, buoyed by strong gains in China as signs of progress in trade talks with the United States offset worries about a deteriorating global economic outlook.
Oil prices reversed earlier falls on Friday, lifted by OPEC’s ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute.
Tesla Inc has started delivering Model 3 cars in China slightly ahead of schedule, as it looks to revive its sales that have been hit hard by Sino-U.S. trade tensions.
(This February 21 story refiles to give full name of Porsche Design in headline.)
The Federal Reserve’s promise in January to be “patient” about further interest rate hikes, putting a three-year-old process of policy tightening on hold, calmed markets after weeks of turmoil that wiped out trillions of dollars of household wealth.
Alibaba Group Holding Ltd expects to avoid layoffs this year despite China’s economic slowdown, CEO Daniel Zhang said on Friday.
Tesla Inc on Friday said it had started delivering Model 3 cars in China, slightly ahead of schedule.
Apple Inc has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales.
Shares in Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the United States.
European ministers will begin debating on Friday how and when to start trade negotiations with the United States, aware that U.S. President Donald Trump may impose punitive tariffs on EU car imports if the bloc waits too long.
Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets.
Shares of Kraft Heinz Co slumped 20 percent on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry.
U.S. President Donald Trump will meet with Chinese Vice Premier Liu He, who is leading trade talks with U.S. officials in Washington, at the White House on Friday, the White House said on Thursday.
Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East dominated producer club OPEC to withhold supply and tighten global markets.
Shares in Asia were flat in early trade on Friday following a fall on Wall Street, with a deteriorating global economic outlook outweighing more signs of progress in trade talks between China and the United States.
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