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by Joseph Schmid Agence France Presse PARIS, France (AFP) — European aerospace giant Airbus said Thursday that it would stop building its A380 superjumbo, the double-decker jet which earned plaudits from passengers but failed to win over enough airlines to justify its massive costs. The final two double-deckers will be delivered in 2021, just 14 years after the first A380 went into service, after the Dubai-based Emirates decided to reduce its total orders by 39 […]
HONG KONG, China (AFP) — Hong Kong’s port, which once vied with rival Singapore for global dominance, has slipped out of the world’s top five busiest shipping container terminals for the first time, new data has revealed. The bustling southern Chinese financial hub owes its very existence to its ideal location as a port, a cornerstone of the remarkable growth of a city’s whose name means “Fragrant Harbour”. It has been among the world’s […]
HONG KONG, China (AFP) — Asian stocks eased Thursday as traders anxiously awaited news from high-level US-China trade talks starting in Beijing. Negotiators from the two economic superpowers kicked off discussions in the Chinese capital aimed at defusing a row that has already triggered tariffs on billions of dollars worth of exports and threatened to stymie global growth. Failure to resolve the dispute would initiate a sharp hike in US tariffs on $200 billion of […]
NEW YORK, United States (AFP) — Global stocks rose Wednesday on optimism over US-China trade talks, while oil prices gained after the International Energy Agency reported lower output from OPEC producers. Bourses in Asia and Europe advanced, taking cues from Tuesday afternoon when Wall Street rallied on President Donald Trump’s statement that he could delay new tariffs on Chinese goods set to take effect March 1 if a deal is close. US stocks also climbed […]
TOKYO, Japan (AFP) — Struggling Japanese engineering firm Toshiba lowered its profit forecasts Wednesday with rising costs weighing on its energy operations. The fresh downgrade comes as the firm undergoes painful reforms to stay afloat after logging billions of dollars in losses from its disastrous acquisition of US nuclear firm Westinghouse. Having sold its lucrative chip making business, Toshiba also saw sharply lower operating profit over the past three quarters compared with the previous year, […]
HONG KONG, China (AFP) — Asian stocks climbed Wednesday as US President Donald Trump said he could extend the deadline for a trade deal with China, appearing to boost the prospects of an agreement. Trump said “things are going well” at preliminary talks in Beijing, where top economic officials will gather Thursday seeking an accord to stop sharp US tariff hikes that could damage the global economy. “If we’re close to a deal, where we […]
PARIS, France (AFP) — Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela. In its monthly report, OPEC said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel’s pledge to curb output in a bid to boost sagging prices. The decrease by the group of 14 […]
TOKYO, Japan (AFP) — Japanese automaker Nissan, rocked by the arrest of former chairman Carlos Ghosn, on Tuesday revised downward its full-year forecast as nine-month net profit dropped more than 45 percent. It was Nissan’s first earnings report since Ghosn was arrested on November 19 and then sacked as chairman. He is in detention facing charges of financial misconduct. The firm’s bottom-line profit fell 45.2 percent to 316.7 billion yen ($2.9 billion), said Nissan — […]
HONG KONG, China (AFP) — Asian shares were mostly up Tuesday as investors watched key US-China trade talks aimed at averting punitive tariffs which could slow the global economy, and a weak yen boosted exporters. Markets were also lifted by a tentative deal to avert a new government shutdown. Initial trade talks are under way in Beijing, and top-level negotiations are set for Thursday and Friday, as the deadline looms for a deal to prevent […]
NEW YORK, United States (AFP) — Global stocks mostly rose Monday as US and Chinese officials in Beijing geared up for crunch trade talks while the dollar gained on the euro for the sixth straight session. European and Asian bourses pushed higher at the start of trade talks in Beijing before a March 1 deadline that could lead to additional US tariffs if a deal is not reached. Deputy US Trade Representative Jeffrey Gerrish led […]
LONDON, United Kingdom (AFP) — Europe’s stock markets rebounded at the open on Monday, following last week’s sharp losses. In initial trade, London’s benchmark FTSE 100 index of major blue-chip firms jumped almost 0.6 percent at 7,110.11 points. In the eurozone, the Paris CAC 40 index won 0.5 percent to 4,988.09 and Frankfurt’s DAX 30 climbed 0.5 percent to 10,955.83 points, compared with Friday’s closing levels. Global stocks had mostly fallen on Friday at the […]
HONG KONG, China (AFP) — Trade uncertainty weighed on Asian stocks Monday, at the start of a week that sees crunch China-US talks take place in Beijing aimed at averting fresh tariff escalations. Mainland Chinese markets reopened from their week-long Lunar New Year break to renewed concerns over the trade row and a series of bearish global growth forecasts. Top US economic officials travel to the Chinese capital this week for the third round of […]
