Business

Global markets jittery as Trump fears persist

by Tom Barfield Agence France Presse NEW YORK, United States (AFP) — Global stock markets on Monday failed to recoup last week’s losses, as traders warily eyed geopolitical uncertainty. Wall Street equities treaded water while markets in Europe and Japan slid, suffering from lingering concern over President Donald Trump’s volatile administration and unclear prospects for achieving economic reform. Worries over Trump’s stalled economic agenda and upcoming high-stakes Washington fights had hurt global stocks on Friday, […]

Johnson & Johnson ordered to pay $417 million in cancer lawsuit

LOS ANGELES, United States (AFP) — A California jury on Monday ordered drugmaker Johnson & Johnson to pay 417 million dollars to a woman who claimed she developed terminal ovarian cancer after using the company’s talc-based products. The case was one of thousands of lawsuits brought nationwide alleging the company failed to warn consumers of the risk of cancer from talc in its products. The jury made the award, which included 347 million dollars in […]

Tokyo’s Nikkei falls to near four-month low

TOKYO, Japan (AFP) — Tokyo’s benchmark stock index fell to its lowest level in almost four months Monday on concerns about Donald Trump’s stalled economic agenda and as South Korea and the US kicked off annual war games that anger Pyongyang. Investors are fretting over the outlook for Trump’s plans on tax reform and other market-friendly measures, as his support from corporate America evaporated following a heavily criticized response to a white supremacist rally. “Uncertainty […]

Asian markets start week cautiously

HONG KONG, China (AFP) — Asian traders moved cautiously Monday with turmoil in the White House fueling concerns about Donald Trump’s economic agenda, as a central bankers’ summit comes into view later in the week. While tensions over North Korea have eased, the deadly terror attack in Barcelona on Thursday is keeping focus on geopolitical issues. United States dealers provided a negative lead for their Asian counterparts, with all three main New York indexes ending […]

Tokyo stocks open higher after falls on geopolitical risks

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Monday in position-adjustment after investors sold heavily Friday in the wake of Barcelona’s deadly attack and amid concerns over United States President Donald Trump’s economic agenda. The benchmark Nikkei 225 index gained 0.16 percent, or 30.37 points, to 19,500.78 in the first few minutes of trade while the Topix index of all first-section issues was up 0.19 percent, or 2.98 points, at 1,600.34. Global stock markets […]

Wal-Mart profits fall as it ramps investment to fight Amazon

by John Biers Agence France-Presse Walmart updated investors Thursday on its latest new gadgets and time-saving pickup options to lure shoppers to stores and away from arch-rival Amazon. The good news? The company’s array of investments in e-commerce, store beautification, low prices and higher employee pay are indeed driving up store traffic. The bad news? Profits are down. Walmart US, the biggest division at Wal-Mart Stores, scored a 1.8 percent rise in comparable sales in […]

US stocks tumble on Trump woes, Spain attack

NEW YORK, United States (AFP) — US stocks fell sharply on Thursday as a deadly attack in Spain added to existing unease over President Donald Trump’s agenda amid the latest controversy and the split with business leaders. Wall Street stocks were in the red all session, initially due to anxiety over rumors White House economic adviser Gary Cohn would resign due to unhappiness over Trump’s response to a violent rally by racist groups over the […]

Philippine economy surges

The Philippine economy grew by 6.5 percent in the three months to June, likely one of the fastest in Asia, the government said Thursday. “I am pleased to inform you that we remain as one of the best-performing economies in Asia,” Economic Planning Secretary Ernesto Pernia said in a speech to announce gross domestic product growth for the second quarter. “We are well on track to meeting our full-year target growth of 6.5-7.5 percent,” he […]

Asia fails to build on Wall Street lead as dollar languishes

HONGKONG, China (AFP) — The dollar slumped Thursday in the wake of dovish Federal Reserve minutes highlighting concern over inflation and crumbling corporate support for United States President Donald Trump. The greenback was back below 110 yen as safe haven assets were reinvigorated, with Asian equities treading water to broadly hold gains from a rally earlier in the week on easing tensions over North Korea. New York stocks finished higher despite developments in Washington, with […]

Calm returns to Asia markets as US data boosts dollar

HONG KONG, China (AFP) — Calm returned to Asian markets Wednesday, with equities stabilizing after a two-day rally, as the dollar strengthened on encouraging United States economic data. Volatility eased as traders focused on the world economy and corporate earning figures after a week dominated by the dramatic increase in tensions over North Korea triggered a global sell-off before prices bounced back Monday. The greenback rose after official figures showed US consumers splurged in July, […]

Global stocks extend rally as North Korea fears wane

NEW YORK, United States (AFP) — World stock markets mostly rose Tuesday, extending the previous day’s rally as fears receded over a potential clash between the United States and North Korea. Investors have cashed out of haven assets, like gold and the Japanese yen, and ploughed back into riskier assets like equities, with the US dollar also gaining ground. Asian stocks extended a relief rally into a second day, after Pyongyang appeared to put on […]

Tokyo shares rebound on easing US-N.Korea fears

TOKYO, Japan (AFP) — Tokyo shares rebounded Tuesday morning after four days of losses as fears over a US-North Korea military conflict began to recede. Before the Japanese market opened, North Korean state media reported that leader Kim Jong-Un had been briefed on the plan to fire missiles toward the US Pacific territory of Guam, but hinted he would hold off on the provocative launch. That came after US Defence Secretary Jim Mattis and Secretary […]