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China's Yuan steadies but stocks plunge as trade tensions grow

China's Yuan steadies but stocks plunge as trade tensions grow

The currency has slumped 2.3% over the past three days and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan`s value has become a new

Aug 06, 2019, 12:29 PM IST
Wall Street sinks as yuan slide inflames US-China trade dispute, Dow falls 767 points

Wall Street sinks as yuan slide inflames US-China trade dispute, Dow falls 767 points

The yuan weakened past the key seven-per-dollar level to its lowest level in 11 years, after the People`s Bank of China, with the blessing of policymakers in Beijing, set its daily midpoint at the

Aug 06, 2019, 10:28 AM IST
HSBC CEO steps down 18 months after appointment

HSBC CEO steps down 18 months after appointment

With a market value of $159 billion, the London- and Hong Kong-listed lender is worth more than Citigroup, even though its stock has fallen under Flint's tenure.

Aug 06, 2019, 10:22 AM IST
US designates China a currency manipulator, escalates trade war

US designates China a currency manipulator, escalates trade war

The US Treasury Department announced late on Monday that it had determined for the first time since 1994 that China was manipulating its currency.

Aug 06, 2019, 06:18 AM IST
China lets yuan break key seven level for first time in decade as trade war worsens

China lets yuan break key seven level for first time in decade as trade war worsens

The sharp 1.4% drop in the yuan comes days after US President Donald Trump stunned financial markets by vowing to impose 10% tariffs on the remaining $300 billion of Chinese imports from September 1.

Aug 05, 2019, 14:37 PM IST
Panasonic's first-quarter profit down 44%, misses estimates

Panasonic's first-quarter profit down 44%, misses estimates

Panasonic, the exclusive battery cell supplier for Tesla Inc, posted an operating profit of 56.39 billion yen ($519.68 million) for the April-June quarter, down from 99.96 billion yen a year prior.

Jul 31, 2019, 12:50 PM IST
Nintendo quarterly profit drops 10% ahead of Switch Lite launch

Nintendo quarterly profit drops 10% ahead of Switch Lite launch

Operating profit for the three months through June was 27.4 billion yen ($252.26 million), versus the 40 billion yen average of 10 analyst estimates compiled by Refinitiv.

Jul 30, 2019, 16:45 PM IST
Huawei outsells smartphone rivals in China, tightens market grip amid US spat

Huawei outsells smartphone rivals in China, tightens market grip amid US spat

Huawei, which was put on a trade blacklist by the United States since mid-May and was virtually barred from doing business there even earlier, shipped 37.3 million smartphones in China in the three

Jul 30, 2019, 13:18 PM IST
UK consumer lending growth sinks to 5-year low in June, housing market picks up

UK consumer lending growth sinks to 5-year low in June, housing market picks up

Brexit worries have weighed on house prices since June 2016`s referendum, though the effect has been most marked in London and surrounding areas, where valuations were already highest.

Jul 29, 2019, 14:25 PM IST
Grab to invest $2 billion in Indonesia using funds from SoftBank

Grab to invest $2 billion in Indonesia using funds from SoftBank

The investment will go toward creating a next-generation transportation network and transforming how critical services, like healthcare, are delivered, Grab said in a statement.

Jul 29, 2019, 13:03 PM IST
Twitter beats on revenue, sees rise in daily users viewing ads

Twitter beats on revenue, sees rise in daily users viewing ads

Twitter`s revenue and number of users have been in focus since the social media platform started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation

Jul 26, 2019, 16:37 PM IST
Intel reports $4.2 bn profit, data centre business declines

Intel reports $4.2 bn profit, data centre business declines

Intel achieved 1 percent growth in the PC-centric business while data-centric revenue declined 7 percent, the company said in a statement as Apple announced to acquire the majority of Intel`s

Jul 26, 2019, 11:11 AM IST
SoftBank Group's $108 billion Vision Fund 2 draws in Microsoft, Apple

SoftBank Group's $108 billion Vision Fund 2 draws in Microsoft, Apple

The Japanese conglomerate itself plans to invest $38 billion in the fund, it said in a statement. Others set to join include Apple Inc and Taiwan`s Hon Hai Precision Industry Co Ltd (Foxconn) - both

Jul 26, 2019, 11:00 AM IST
Top investors lose $1 billion as China''s Nasdaq-style board reverses on day 2

Top investors lose $1 billion as China''s Nasdaq-style board reverses on day 2

All but four companies of the 25 stocks listed on the market fell as investors took profits from opening day gains, erasing about 9% of the total market capitalisation.

Jul 23, 2019, 14:11 PM IST
Huawei's US research arm slashes more than 70% of workforce

Huawei's US research arm slashes more than 70% of workforce

Futurewei, which employed 850 people in the United States, began laying off workers on Monday,  citing employees, including one who spoke as he left the company`s Silicon Valley campus.

Jul 23, 2019, 09:58 AM IST
Stellar debut for China's Nasdaq-style board adds $44 bn in market cap

Stellar debut for China's Nasdaq-style board adds $44 bn in market cap

Sixteen of the first batch of 25 companies - ranging from chip-makers to health care firms - more than doubled their already frothy initial public offering (IPO) prices on the STAR Market, operated

Jul 22, 2019, 16:07 PM IST
Microsoft beats estimates, powered by growing cloud profits

Microsoft beats estimates, powered by growing cloud profits

Since Chief Executive Satya Nadella took over in 2014, Microsoft has been shifting away from its Windows operating system software and towards cloud services, in which customers move their computing

Jul 19, 2019, 12:29 PM IST
Jeff Bezos world's richest person in Bloomberg Billionaires Index

Jeff Bezos world's richest person in Bloomberg Billionaires Index

The list of Bloomberg Billionaire index includes 18 Indians, and is topped by Reliance Industries Limited (RIL) Chairman Mukesh Ambani at rank 13.

Jul 17, 2019, 12:55 PM IST
Christine Lagarde resigns as IMF chief, starting race for her successor

Christine Lagarde resigns as IMF chief, starting race for her successor

A former French finance minister, Lagarde was the first woman to head the IMF and was known among policymakers as a tough negotiator.

Jul 17, 2019, 11:53 AM IST
China second-quarter GDP growth slows to 27-year low

China second-quarter GDP growth slows to 27-year low

China`s trading partners and financial markets are closely watching the health of the world`s second-largest economy as the Sino-U.S. trade war gets longer and costlier, fuelling worries of a global

Jul 15, 2019, 12:12 PM IST