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NEW YORK, United States (AFP) — General Motors has laid off 6,000 workers in Mexico temporarily due to a US labor strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday. The layoffs affect the Silao assembly and transmission plants in central Mexico, where work has been “disrupted as a result of a parts shortage related to the UAW strike,” a GM spokesman said. The Silao […]
HONG KONG, China (AFP) — Asian markets fell Friday following declines on Wall Street as the impeachment inquiry into President Donald Trump weighed on sentiment. Political turmoil in Washington following the release of a whistleblower’s complaint overshadowed positive comments from Trump on US-China trade talks and steps towards a new agreement with Japan. The incendiary complaint alleges Trump sought to enlist Ukraine to help his 2020 campaign and then conspired with staff to cover it […]
(Eagle News) — Because of the slowdown in the global economy and Philippine domestic investment, Asian Development Bank (ADB) has revised the country’s economic growth this year to 6 percent, down from the previous forecast of 6.4 percent. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2019, ADB revised its forecast for Philippine gross domestic product (GDP) growth to 6.0% in 2019 and 6.2% in 2020, against its previous […]
by John BIERS NEW YORK, United States (AFP) — Boeing has reached settlements with 11 families of victims from October’s Lion Air crash, the first agreements following two deadly crashes that killed 346 people, a plaintiffs attorney said Wednesday. The Wisner Law Firm, which specializes in aviation cases, is also “optimistic” about reaching settlements on its remaining six cases for families affected by the crash in Indonesia, said attorney Alexandra Wisner. The settlements pay out […]
by John BIERS NEW YORK, United States (AFP) — Wall Street stocks rallied Wednesday following upbeat comments from Donald Trump on China trade talks, while US investors largely shrugged off the just-announced impeachment investigation of the US president. Among other markets, the British pound retreated on Brexit uncertainty, while oil prices fell after a report showed higher US oil inventories. Trump’s strident remarks on China at the United Nations had been among the factors that […]
LONDON, United Kingdom (AFP) — British travel group Thomas Cook on Monday declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers. The 178-year-old operator had been desperately seeking £200 million ($250 million, 227 million euros) from private investors to save it from collapse. “Despite considerable efforts, those discussions have not resulted in an agreement between the company’s stakeholders and […]
HONG KONG, China (AFP) — Oil prices rallied Monday after Iran warned the presence of US forces in the Gulf was causing instability in the region, while equities were mostly down as Donald Trump said he did not want a partial trade deal with China. While a loosening of monetary policy by central banks is providing support to investors, they remain on edge following last week’s attack on Saudi oil facilities that was claimed by […]
NEW YORK, United States (AFP) — Retail giant Walmart said Friday it would stop selling e-cigarettes in its US stores amid a growing crackdown on flavored vaping products to deter an ever growing number of young users. “Given the growing federal, state and local regulatory complexity and uncertainty regarding e-cigarettes, we plan to discontinue the sale of electronic nicotine delivery products at all Walmart and Sam’s Club US locations,” the world’s leading retail chain said […]
NEW YORK, United States (AFP) — Oil prices shot higher Thursday on fresh supply concerns in the Middle East, while on most markets stocks climbed after the US Federal Reserve’s decision to cut interest rates. Brent oil jumped nearly 1.3 percent as traders seized on resurfacing tensions in the crude-rich Middle East. The market had surged at the start of the week after drone attacks on Saudi oil facilities on Saturday. Traders remain on red […]
LONDON, United Kingdom (AFP) — Oil prices fell Tuesday but held most of the previous day’s record gains that were fuelled by an attack on Saudi facilities that wiped out half the country’s crude output. Traders were nervously awaiting further US response after it said Iran was likely to blame. The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world’s […]
HONG KONG, China (AFP) — Hong Kong started on the back foot Tuesday as investors fretted over geopolitical tensions following the weekend strike on Saudi oil fields that fuelled concerns of a conflict in the Gulf. The Hang Seng Index dropped 0.67 percent, or 181.59 points, to 26,942.96. The benchmark Shanghai Composite Index lost 0.23 percent, or 7.04 points, to 3,023.71 and the Shenzhen Composite Index, which tracks stocks on China’s second exchange, was […]
HONG KONG, China (AFP) — Oil prices saw a record surge Monday after attacks on two Saudi facilities slashed output in the world’s top producer by half, fuelling fresh geopolitical fears as Donald Trump blamed Iran and raised the possibility of a military strike on the country. Brent futures surged $12 in the first few minutes of business — the most in dollar terms since they were launched in 1988 and representing a jump of […]
