International Business News

Apple's data shows a deepening dependence on China as Trump's tariffs loom

Apple's data shows a deepening dependence on China as Trump's tariffs loom

Apple faces levies of 15% imposed by Trump`s administration on major products made in China such as smartwatches and wireless headphones on Sept. 1, with a tariff on its biggest seller, the iPhone,

Aug 29, 2019, 18:16 PM IST
BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp

BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp

The deal, which includes interests in the most prolific oil field in U.S. history at Prudhoe Bay, and the 800-mile (1,300-km) Trans Alaska Pipeline, is part of BP`s plan to raise $10 billion over the

Aug 28, 2019, 18:06 PM IST
Yuan weakens to 11-1/2-year low on trade fatigue, but PBOC fixing offers some relief

Yuan weakens to 11-1/2-year low on trade fatigue, but PBOC fixing offers some relief

Losses were kept in check, however, after the central bank set a daily midpoint that was stronger than traders expected, raising hopes it was again trying to stabilise the currency.

Aug 27, 2019, 10:56 AM IST
Trade war gets murkier as Donald Trump orders US firms to exit China after tariff hike

Trade war gets murkier as Donald Trump orders US firms to exit China after tariff hike

We don’t need China and, frankly, would be far better off without them, says US President Donald Trump.

Aug 24, 2019, 09:26 AM IST
Yuan falls to fresh 11-year lows on trade war worries, despite state bank support

Yuan falls to fresh 11-year lows on trade war worries, despite state bank support

Traders said sentiment was fragile, with recent news headlines offering little hope of a U.S-China trade deal anytime soon and new U.S. levies on Chinese goods set to go into effect on Sept. 1.

Aug 22, 2019, 15:36 PM IST
Recession fears hit Wall Street after grim China, German data

Recession fears hit Wall Street after grim China, German data

The outlook for Germany`s export reliant economy was also grim and Chinese industrial output growth cooled to a more than 17-year low, adding to headwinds for US multinationals that rely on global

Aug 14, 2019, 17:50 PM IST
Walmart's Walton family earns $4 million per hour, employees get a paltry $11

Walmart's Walton family earns $4 million per hour, employees get a paltry $11

The Bloomberg report adds that the fortune of the Waltons has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families.

Aug 14, 2019, 12:01 PM IST
British Airways hit by problems with online check-in system

British Airways hit by problems with online check-in system

The airline, which is owned by International Airlines Group, apologised to customers for the disruption and said its technical team was working to resolve the problem as soon as possible. It urged

Aug 07, 2019, 12:55 PM IST
Jeff Bezos cashes in another $990 mn Amazon shares

Jeff Bezos cashes in another $990 mn Amazon shares

From the 530,000 Amazon shares that Bezos sold early this month, he will net an estimated $750 million in cash after taxes, Forbes.com reported.

Aug 06, 2019, 16:45 PM IST
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