Business & Finance News
European shares reversed earlier losses and rallied on Monday as investors focused on prospects for bumper corporate earnings, although fears of a further escalation in the U.S.-China trade conflict left broader market sentiment cautious.
The Shanghai head office of China’s central bank has levied a fine of 4.12 million yuan ($601,846) on Alipay, the online payment platform of Ant Financial, for violating regulations on payment services, the regulator said on Monday.
Oil rose on Monday after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel.
PepsiCo Inc said on Monday Indra Nooyi would step down as chief executive officer after 12 years at the helm and named President Ramon Laguarta as her replacement.
Honda Motor Co on Monday said it will recall 96,900 Avancier sport utility vehicles (SUVs) in China, due to a cold-climate engine problem that has already led to hundreds of thousands of its vehicles being recalled earlier this year.
A court in Vietnam handed lengthy prison terms on Monday to several former bankers accused of mismanagement, amid a crackdown on corruption in the communist-ruled country.
Oil rose on Monday after Saudi crude production registered an unexpected decline in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel.
European shares struggled on Monday as fears of the escalating U.S.-China trade conflict outweighed the boost to sentiment from Chinese authorities’ intervention last week to shore up its currency.
Didi Chuxing Technology, China’s largest ride-hailing service, said on Monday it will invest $1 billion in its auto services business, part of a larger unit rebranding as the company ramps up to a widely anticipated initial public offering (IPO).
More than five years into a radical plan to boost the world’s third-biggest economy, the Bank of Japan sent a message of quiet surrender last week, admitting it couldn’t stoke inflation and walking back steps intended to do so.
Shares in Linde plunged more than 8 percent on Monday after the industrial gases group’s planned $87 billion merger with Praxair was put in doubt by demands from U.S. antitrust regulators.
HSBC Holdings Plc posted a small increase in first-half pretax profit, as rising expenses from investments in a new growth strategy and a $765 million settlement for alleged mis-selling of U.S. mortgage securities ate into higher revenues.
China’s Haier Group said rising steel prices amid hefty U.S. import tariffs was driving up costs for its business in America, and warned that consumers stood most to lose from a mounting trade spat between the world’s top two economies.
Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau.
As U.S. and Chinese firms rush for outside expertise on how to handle fallout from the escalating trade war between the two nations, consultants on everything from management to logistics say they have seen soaring demand for their services.
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