International Business News

US-China trade war starting to weigh on global economy: IMF

US-China trade war starting to weigh on global economy: IMF

In its report released in Santiago in July, the IMF lowered its 2019 global growth forecast from 3.3 per cent to 3.2 per cent, citing international tensions and the US-China trade war in particular.

Sep 13, 2019, 17:57 PM IST
London Stock Exchange rejects Hong Kong's $39 bln takeover offer

London Stock Exchange rejects Hong Kong's $39 bln takeover offer

The LSE told HKEX in a letter that it had fundamental concerns about key aspects of the proposal and that HKEX`s relationship with the Hong Kong government would "complicate matters".

Sep 13, 2019, 17:52 PM IST
Hong Kong Exchanges bids $39 billion to take over London Stock Exchange

Hong Kong Exchanges bids $39 billion to take over London Stock Exchange

The takeover bid by the Hong Kong company comes as Britain is set to leave the European Union, a step some politicians fear could weaken its large financial sector.

Sep 11, 2019, 17:35 PM IST
Apple, Foxconn say they overly relied on temporary workers in China

Apple, Foxconn say they overly relied on temporary workers in China

The response comes after China Labor Watch on Monday issued a lengthy report accusing the two companies of breaching numerous Chinese labour laws, including one barring temporary staff from exceeding

Sep 09, 2019, 14:44 PM IST
Nissan CEO intends to quit over pay issue

Nissan CEO intends to quit over pay issue

A Nissan in-house probe found that he had received tens of millions of yen more than he should have through stock appreciation rights.

Sep 09, 2019, 13:51 PM IST
British Airways pilots ground planes in unprecedented 48-hour strike

British Airways pilots ground planes in unprecedented 48-hour strike

Several media reports said that around 300,000 passengers will be hit following the 2-day strike by British Airways’ pilots.

Sep 09, 2019, 10:46 AM IST
US-China trade negotiations to resume in October

US-China trade negotiations to resume in October

The US-China trade war, triggered by Trump's aggressive protectionism since coming to power in Jan 2017, reached its peaked in May, with the imposition of a 25 per cent tariff on Chinese imports

Sep 05, 2019, 12:35 PM IST
China, US kick off fresh escalation in trade war; Donald Trump asks firms to find 'alternatives'

China, US kick off fresh escalation in trade war; Donald Trump asks firms to find 'alternatives'

Trump, writing on Twitter, said his goal was to reduce US reliance on China and he again urged American companies to find alternate suppliers outside China.

Sep 02, 2019, 08:55 AM IST
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