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HONG KONG, China (AFP) — The pound held its ground Wednesday and London’s FTSE opened higher after the record defeat of British Prime Minister Theresa May’s Brexit plan, as investors consider the next developments in the long-running saga. Sterling tanked to a near two-year low soon after the government’s proposal on leaving the European Union was soundly beaten Tuesday evening, but it soon bounced back as traders bet there would not be a “no-deal” exit. […]
TOKYO, Japan (AFP) — Tokyo stocks closed lower on Wednesday as investors looked for direction, and the currency market remained stable during Asian trade after volatility for the British pound around a Brexit vote. The benchmark Nikkei 225 index slipped 0.55 percent, or 112.54 points, to end at 20,442.75 while the broader Topix index was down 0.32 percent, or 4.95 points, at 1,537.77. Investors appeared to have factored in the defeat in Britain’s parliament for […]
by John BIERS Agence France Presse NEW YORK, United States (AFP) — Bank executives said Tuesday that economic conditions remained solid but warned that weakening sentiment amid a lengthening US government shutdown could kill growth. Uncertainty about the shutdown — now the longest in US history — further dims the outlook at a time when questions about trade wars and Federal Reserve policies also are clouding plans, executives said. “Some would estimate that if it […]
DUBLIN, Ireland (AFP) — Irish fast food chain Supermac’s announced Tuesday it had won a European Union battle against global giant McDonald’s over the use of the Big Mac and Mc trademarks. Supermac’s asked the European Union Intellectual Property Office to cancel McDonald’s use of the trademarks in certain fields. The EUIPO said McDonald’s had not proven genuine use of the contested trademark as a burger or as a restaurant name. “As a result, the […]
NEW YORK, United States (AFP) — In the 1980s, the “Back to the Future” film franchise suggested we would all eventually wear self-lacing sneakers. Then a few years ago, Nike made the movie magic a reality, introducing its first shoe to the public with so-called “power lacing.” And on Tuesday, the global sportswear giant took it a step farther — now your shoes will automatically loosen or tighten when you step into them, and then […]
by Michelle FITZPATRICK / Tom BARFIELD Agence France Presse Official data suggested Tuesday that Germany avoided a recession at the end of 2018 but confirmed a sharp slowdown in growth last year as Europe’s largest economy cooled off from boom times. Economic growth sank to 1.5 percent in 2018 from 2.2 percent in the previous two years, federal statistics authority Destatis said. In absolute terms, Germany’s 2018 GDP was around 3.4 trillion euros ($3.9 […]
by Michelle Fitzpatrick Agence France Presse FRANKFURT AM MAIN, Germany (AFP) — Germany will find out on Tuesday if Europe’s top economy ended 2018 in a technical recession, with fears over slowing momentum fuelling calls for Berlin to use its fiscal leeway to bolster growth. Federal statistics office Destatis will publish a preliminary estimate of Germany’s fourth quarter and full-year gross domestic product figures for 2018, data closely watched across the eurozone for signs […]
HONG KONG, China (AFP) — Asian markets on Tuesday rebounded from the previous day’s sharp losses but investors remain wary of any further sign of weakness in the global economy while the pound extended gains ahead of a crunch Brexit vote later in the day. China’s disappointing trade data on Monday sent shivers through trading floors as it showed the long-running US tariffs row is beginning to bite. But dealers got back on the horse, […]
by Luc OLINGA / Nova SAFO Agence France Presse DETRIOT, United States (AFP) — The Detroit auto show was abuzz over what Ford and Volkswagen would announce Tuesday, after the car giants called off a joint appearance during which they were widely expected to announce an alliance. The two car giants have been in discussions for more than six months over a partnership to develop self-driving and electric technologies. But a source close to the […]
SINGAPORE (AFP) — Singapore’s CapitaLand said Monday it has agreed to buy two real estate holding firms in a Sg$11 billion ($8.1 billion) deal that will create Asia’s biggest property group with assets in dozens of countries. Under the agreement, CapitaLand will acquire two units from a subsidiary of state investment firm Temasek. If approved, the new entity will have assets under management of more than Sg$116 billion, including businesses, industrial parks, hotels, commercial, […]
HONG KONG, China (AFP) — Hong Kong led a sell-off across Asian markets Monday as profit-takers moved in following a six-day rally, while dealers were also spooked by another disappointing batch of weak economic data out of China. With few catalysts to drive buying, equities were ripe for selling after last week’s healthy gains, with the US government shutdown — now in its fourth week and showing no sign of ending soon — instilling a […]
BEIJING, China (AFP) — China’s trade surplus with the United States widened last year, data showed Monday, while the country’s imports and exports fell in December as the long-running trade war begins to bite in the world’s number two economy. The surplus with the US is a major source of anger within the Trump administration, which imposed tariffs on hundreds of billions of dollars worth of Chinese goods last year and has warned of more […]
