Business

Trump threatens tariffs on all $505bn of Chinese imports

  WASHINGTON, United States (AFP) — US President Donald Trump said in an interview released Friday he is willing to hit all Chinese goods imported to the United States with tariffs if necessary. “I’m ready to go 500,” the Republican leader told the US network CNBC, referring to the $505.5 billion in Chinese imports accepted into the United States in 2017. “I’m not doing this for politics, I’m doing this to do the right thing […]

Asia markets rally as China’s yuan defies Trump dollar warning

  HONG KONG, China (AFP) — Asian markets advanced Friday, with Shanghai gaining two percent as China’s weak yuan currency defied US President Donald Trump’s criticism of a strong dollar and Fed rate hikes. Trump, in part of an interview aired by US television network CNBC, broke with the long-established executive branch practice of not commenting on the Federal Reserve’s decisions out of respect for its independence. “I’m not thrilled,” Trump told the network in […]

Sanctions-hit North Korea economy shrank sharply in 2017: Seoul

SEOUL, South Korea (AFP) — North Korea saw its economy contract 3.5 percent last year – its worst showing in two decades – as it was hit by sanctions over its weapons programs, the South’s central bank said Friday. It was a sharp reversal from 3.9 percent growth in 2016, according to the Bank of Korea (BOK). The UN Security Council last year banned the North’s main exports — coal and other mineral resources, fisheries […]

Google hit with record-breaking EU fine

by Danny Kemp / Céline Le Prioux Agence France-Presse BRUSSELS, Belgium (AFP) – The EU hit Google with its biggest ever fine Wednesday, imposing a 4.34 billion euro ($5 billion) penalty on the US tech giant for illegally abusing the dominance of its operating system for mobile devices. Brussels accused Google of using the Android system’s near-stranglehold on smartphones and tablets to promote the use of its own Google search engine and shut out rivals. […]

Asian markets rise after Fed chief boosts US confidence

HONG KONG, China (AFP) — Asian markets largely rose on Wednesday, tracking a Wall Street rally after the Federal Reserve chief expressed confidence in the US economy despite fears of a global trade war. Jerome Powell offered a positive outlook, citing a strong job market and inflation figures in line with Fed targets, sending US stocks higher. “Powell’s testimony was music to investors’ ears as the Dow gained for the 4th consecutive day while the […]

Asia markets on course for positive end to tough week

NEW YORK, United States (AFP) — Most Asian markets rose again on Friday following a record close on Wall Street as trade war fears are tempered by hopes China and the US will eventually reach a compromise, while attention turns to the start of earnings season. Equities have had a rollercoaster week, with strong US jobs figures providing initial support before Donald Trump’s threatened tariffs on another $200 billion of Chinese imports sent investors running […]

J&J ordered to pay $4.69 bn damages in talc cancer case

WASHINGTON, United States (AFP) — US pharmaceutical giant Johnson & Johnson was Thursday ordered to pay out $4.69 billion in damages in a lawsuit representing 22 women and their families who alleged a talc sold by the company contained asbestos and caused them to suffer cancer. It is the latest twist in a matter that has seen several thousand lawsuits filed against J&J. According to the victims’ lawyer, Mark Lanier, a jury composed of six […]

Tokyo stocks open higher, helped by cheaper yen

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Thursday, partly supported by a cheaper yen against the dollar. The benchmark Nikkei 225 index advanced 0.40 percent, or 88,54 points, to 22,020.75 in early trade, while the broader Topix index was up 0.32 percent, or 5.46 points, at 1,707.34. The dollar fetched 112.06 yen in early Asian trade, against 112.03 yen in New York and 111.05 yen in Tokyo on Wednesday. “Japanese shares are seen […]

Asian markets bounce on bargain buying as dollar extends rally

(AFP) — Asian markets on Thursday recovered from the previous day’s hammering, oil prices bounced and the dollar extended a rally on the back of expectations the US is better prepared to deal with a trade war with China. While investors remain on edge about a damaging standoff between the world’s two economic superpowers, there are hopes the two sides will avoid an escalation despite Donald Trump threatening tariffs on a further $200 billion of […]

Tesla unveils Shanghai factory plans amid US-China trade row

by Dan Martin Agence France-Presse SHANGHAI, China (AFP)–Tesla unveiled plans on Tuesday to build a factory in Shanghai to dramatically increase its production capacity, with boss Elon Musk making his electric-car company’s biggest overseas move yet just as a US-China trade battle heats up. Musk said the plant, which has been in the works for a year, would eventually have an annual production capacity of 500,000 cars, and he hoped it would be “completed very soon.” […]

Airbus to sell 60 smaller planes to JetBlue

NEW YORK, United States (AFP)–Airbus announced Tuesday a deal to sell US airline JetBlue 60 airplanes that were formerly part of Canadian manufacturer Bombardier’s C series. It was the first contract since the aircraft were rechristened by the European aerospace giant as the A220-300, which can carry between 100 and 150 passengers. Airbus signed a memorandum of understanding with US carrier JetBlue for a contract worth about $5.4 billion based on list prices, the company […]

Tokyo stocks open lower as trade war worries resurface

TOKYO, Japan (AFP) — Tokyo stocks opened lower on Wednesday as worries about a trade war resurfaced after the United States announced a new list of Chinese export goods subject to tariffs. The benchmark Nikkei 225 index fell 0.84 percent, or 187.00 points, to 22,009.89 in early trade while the broader Topix index was down 0.70 percent, or 12.08 points, at 1,704.05. “Sales are seen dominating after US trading in after hours saw declines following […]