Business & Finance News
China and the United States have agreed terms of a “phase one” trade deal under which Washington reduced some tariffs and Beijing canceled retaliatory duties that were previously scheduled to take effect on Dec. 15.
Budget airline Jetstar is cutting domestic capacity by around 10% in January and weighing the sale of three Boeing 787-8 jets to counter industrial action by its pilots that the Australian carrier expects will cost it up to A$25 million ($17 million).
Asian shares hit their highest in nearly eight months on Monday after the United States and China agreed on a preliminary trade deal, with Australian shares leading the way on expectations of more easing of monetary policy there.
Qantas Airways Ltd plans to have more experienced pilots on board the world’s longest non-stop flights than on its current long-haul flights for the first 18 months as it evaluates fatigue, said sources with knowledge of the matter.
Growth in China’s industrial and retail sectors beat expectations in November, as government support propped up demand in the world’s second-largest economy and amid easing trade hostilities with Washington.
A broad gauge of Asian share markets hit nearly eight-month highs on Monday after the United States and China agreed a preliminary trade deal, and amid policy-easing hopes in Australia, but profit-taking and caution over the deal’s details capped gains.
Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that’s expected to boost flows between the top two global economies.
China’s industrial output and retail sales growth accelerated more than expected in November, suggesting resilience in the economy as Beijing seeks to prop up domestic demand amid the trade war with the United States.
China and the United States should continue bilateral trade talks and work toward removing all existing tariffs, China’s National Bureau of Statistics spokesman Fu Linghui said on Monday.
For SoftBank Group Inc , financial technology firm OneConnect’s IPO should have been a vindication of an aggressive China investing strategy.
Asian shares moved higher on Monday as investors welcomed a trade agreement between Beijing and Washington over the weekend, but enthusiasm was capped by lingering scepticism about the deal and ongoing relations between China and the United States.
Oil prices fell but remained near three-month highs on Monday after the United States and China agreed to an initial trade deal, a move market participants said could stoke oil demand and boost trade flows.
Boeing Co is considering whether to cut or halt production of its grounded 737 MAX after the Federal Aviation Administration said last week it would not approve the plane’s return to service before 2020, a person briefed on the matter said on Sunday.
Asian shares ticked higher on Monday as investors cheered an announced trade agreement between Beijing and Washington over the weekend although jubilation was capped by prevailing scepticism about the deal.
Budget airline Jetstar said on Monday it would cut domestic capacity by around 10% in January due to industrial action by pilots and was considering the sale of three Boeing Co 787-8 jets serving loss-making international routes.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
