Business

Tokyo shares open higher on Wall Street gains, higher dollar

Tokyo, Japan (AFP) — Tokyo shares opened higher on Friday after US markets finished at new record highs thanks to bright corporate earnings and a higher dollar that also encouraged investors. The Nikkei 225 index added 0.76 percent or 181.87 points to 24,115.00 in early trade, while the broader Topix index gained 0.49 percent or 8.45 points to 1,737.17. “The Japanese market today should show solid performance, buoyed by the strength of US shares which […]

Hyundai and Kia bet on London startup for electric cars

LONDON, United Kingdom  (AFP) — South Korea’s Hyundai and its Kia affiliate announced plans Thursday for a major investment in London-based startup Arrival to produce next-generation electric vehicles that cost less than standard-engine models. The 100-million-euro ($110 million) bet on the five-year-old technology firm comes as some manufacturers abandon Britain because of uncertainties about how it will trade with EU nations once it leaves the bloc this month. Arrival is focused on designing and producing […]

Asian markets rise as China, US finally put pen to paper on deal

HONG KONG, China (AFP) — Asian markets rose early Thursday as details were released of the China-US trade deal signed in Washington, with analysts saying it would allow investors to turn their focus to the global outlook and earnings season. After years of painstaking on-off talks between the economic superpowers, Donald Trump finally put pen to paper on an agreement that lowers tensions between the two and provides a major boost to the global outlook. […]

World stocks tread water as easing US-China tensions boost yuan

NEW YORK, United States (AFP) — Global stocks were range-bound on Tuesday while the yuan advanced against the dollar after Washington said it no longer considered China a currency manipulator and tensions eased between the economic titans. New York was also rattled by news reports on Tuesday that US President Donald Trump intended to keep most punitive US tariffs on Chinese imports until after the 2020 presidential election. US stocks finished lower, pulling back from […]

Saudis pledge to maintain oil market stability

RIYADH, Saudi Arabia (AFP) — Saudi Oil Minister Prince Abdulaziz Ben Salman said Monday the kingdom has taken every step to secure its oil facilities and guarantee market stability amid rising regional tensions. The US drone strike that killed Iranian general Qassem Soleimani on January 3 has exacerbated fears of broader conflict in a region that has seen attacks on ships and Saudi oil facilities in the last year. “We have taken all the possible […]

China confirms negotiator to sign trade deal in US next week

by Beiyi SEOW BEIJING, China (AFP) — China said Thursday that Vice Premier Liu He will travel to Washington next week to sign the “phase one” deal with the United States that has lowered trade tensions between the world’s two biggest economies. The signing will cap a nearly two-year spat that threatened to throttle the global economy as the two countries exchanged tariffs on hundreds of billions of dollars worth of two-way trade. But US […]

Global economy faces tenuous recovery beset by risks: World Bank

by Heather SCOTT WASHINGTON, United States (AFP) — Recovery in a handful of countries will boost global growth slightly this year but the outlook is riddled with potential pitfalls that could derail this tepid upswing, the World Bank cautioned Wednesday. A renewal of trade tensions, which eased recently with announcement of an initial agreement between the United States and China, would erode the modest progress and could spread quickly beyond the two economic powers. In […]

Ukraine plane crash another challenge for Boeing

by John BIERS Agence France Presse The latest tragic plane crash involving another Boeing aircraft adds to the travails facing the company after its 737 MAX was grounded nearly a year ago following two deadly crashes. Details were limited Wednesday about the crash of a Ukraine International Airlines plane, a Boeing 737-800, near Tehran that killed 176 people. Yet the latest bad news involving a Boeing plane weighed on company shares, which were down 1.3 […]

Oil spikes after Iran attacks US forces

  by Richard CARTER Agence France Presse HONG KONG, China (AFP) — The price of oil spiked Wednesday after Iran launched revenge attacks on US forces in Iraq, making good on its pledge to hit back over the killing of its top general. The main US contract rocketed by more than 4.5 percent as fears over supplies in the tinderbox Middle East sent prices soaring. The Pentagon said it was still “working on initial battle […]

Nissan slams Ghosn’s ‘extremely regrettable’ escape

TOKYO, Japan (AFP) — Japanese automaker Nissan on Tuesday slammed its former chief Carlos Ghosn for jumping bail, calling his escape “extremely regrettable” and vowing continued legal action to hold him accountable. Ghosn, who faced trial on financial misconduct charges that he denies, fled Japan on December 29 for Lebanon, in an elaborate and apparently carefully planned escape. His bail-jumping has prompted outrage from Japanese officials, but he insists that he would have been unable to […]

Hyundai to make flying cars for Uber air taxis

LAS Vegas, United States (AFP) — Hyundai announced Monday it would mass produce flying cars for Uber’s aerial ride share network set to deploy in 2023. The South Korean manufacturer said it would produce the four-passenger electric “vertical take-off and landing vehicles” at “automotive scale,” without offering details. The deal announced at the Consumer Electronics Show in Las Vegas could help Uber, which is working with other aircraft manufacturers, to achieve its goal of deploying air […]

Amazon revs up auto ambitions with in-car TV, Alexa integration

LAS VEGAS, United States  (AFP) — Amazon unveiled plans Monday to be a bigger player in the auto sector, announcing partnerships that will put its Fire TV platform in vehicles and offer more services through its Alexa digital assistant. In an announcement ahead of the Consumer Electronics Show in Las Vegas, Amazon said it would allow car owners without built-in Alexa to add the smart assistant to the vehicle through a phone application. The “Echo Auto” […]