Business & Finance News
The dollar dipped on Friday, set for its biggest weekly decline since March as markets braced for a speech by Federal Reserve chair Jerome Powell for hints on the direction of monetary policy, while a gauge of global stocks inched higher.
Saudi Arabia’s decision to shelve what was billed as the biggest share sale ever is a major blow to the credibility of Crown Prince Mohammed bin Salman but there are other ways to finance reforms to strengthen the economy, bankers and investors say.
Four Toyota Motor Corp group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on Friday.
German engineering giant Siemens said a report by monthly Manager Magazin that it could cut 20,000 jobs as part of its Vision 2020+ strategy was “completely unfounded”.
German engineering giant Siemens denied on Friday a report by German monthly Manager Magazin that said it could cut 20,000 jobs as part of its “Vision 2020” strategy.
The dollar fell on Friday, set for its biggest weekly decline since March as markets braced for a speech by Federal Reserve chair Jerome Powell for hints on the direction of monetary policy, while a gauge of global stocks barely budged.
As Australia’s big miners gear up for a new round of expansion after years of belt tightening, prices for everything from labor to fuel to equipment have begun to rise, driving up costs and eating into margins.
Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency.
China will keep hitting back at Washington as more U.S. trade tariffs are imposed, but its counter-strikes will remain as targeted as possible to avoid harming businesses in China – whether Chinese or foreign, Finance Minister Liu Kun said.
Alibaba Group Holding Ltd , China’s biggest e-commerce firm, warned on Thursday investments in its delivery business would keep pressuring profits even as it reported its strongest-ever quarterly revenue growth, largely in line with estimates.
Australia has banned Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network citing national security risks, a move the Chinese telecoms gear maker criticized as being “politically motivated”.
China’s Unipec will resume purchases of U.S. crude oil in October after a two-month halt due to the trade dispute between the world’s two largest economies, three sources with knowledge of the matter said.
Asian stocks fell on Friday after U.S.-China trade talks ended without progress and market focus shifted to a speech by the Federal Reserve chairman for fresh clues on the direction of U.S. monetary policy.
Alphabet Inc’s self-driving unit Waymo has set up a subsidiary in Shanghai, according to a business registration filing, the latest sign that the U.S. internet giant is attempting to make new inroads into China.
China’s state planner said on Friday the United States’ tariffs on Chinese high-technology products will have an impact on high-tech industries in both countries.
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