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NEW YORK, United States (AFP) — Global stocks finished mixed Tuesday following a meandering session amid lingering worries over higher interest rates as the IMF cut its global growth forecast. Investors have been nervous since the yield on 10-year US Treasury bonds surged above 3.0 percent. The advance followed a stream of strong US economic data that was seen as boosting the likelihood that the Federal Reserve will persist in raising interest rates. Yields continued […]
HONG KONG, China (AFP) — The sell-off in Asian markets slowed on Tuesday, with markets seeing little movement as ongoing US-China tensions simmer. A testy public interaction between Chinese Foreign Minister Wang Yi and US Secretary of State Mike Pompeo in Beijing on Monday refueled market worries about China-US relations, which have taken a hefty knock from tit-for-tat tariffs. “A possible train wreck on the negotiation front could completely derail global markets,” said Stephen Innes, […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and […]
HONG KONG, China (AFP) — Asian markets fell on Monday, extending last week’s sell-off as another strong US jobs reading further fanned expectations the Federal Reserve will hike interest rates at a quicker pace. Shanghai led the retreat as mainland investors returned from a week-long break, during which time China was accused of using microchips in computer equipment sold in the US as part of a drive to steal technology secrets. The losses in China […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — The US jobless rate tumbled in September to its lowest level since December 1969, even as job creation slowed, likely due in part to Hurricane Florence, the government reported Friday. A month ahead of hard-fought congressional elections, the result was sure to delight US President Donald Trump, who has eagerly taken credit for America’s extended run of economic expansion even as his Republican […]
TOKYO, Japan (AFP) — Japanese car giant Toyota said Friday it is recalling more than 2.4 million hybrid cars over a fault that could cause crashes, just a month after an another recall affecting hybrids. The firm in September said it was recalling more than one million hybrid cars globally after uncovering a technical problem that could cause fires. The latest recall affects several models of Toyota’s Prius and its Auris hybrid vehicles produced between […]
By Caesar Vallejos, Eagle News Service Sharing best practices, solutions and experiences in the areas of energy, transport and public safety in support of building smart and sustainable cities of the future, key executives from the Philippine government and business sector gathered with their Swedish counterparts at the first Philippine-Sweden Smart City Collaboration held at the Quest Hotel, Clark Freeport Zone last October 4, 2018. “This collaboration comes at a critical time when cities and […]
SEOUL, South Korea (AFP) — Samsung Electronics said Friday it expects operating profit to reach a record high of 17.5 trillion won ($15.4 billion) for the third quarter of this year. Sales for the third quarter are expected to reach 65 trillion won, the world’s largest maker of smartphones and memory chips said in a statement. © Agence France-Presse
by Roland JACKSON Agence France-Presse LONDON, United Kingdom (AFP) — James Bond’s favorite carmaker Aston Martin on Wednesday launched on the London stock market, valuing the British luxury sports car brand at £4.3 billion ($5.6 billion, 4.9 billion euros). Aston, which has a long-running association with the fictional British spy, said in a statement that it has priced its initial public offering (IPO) at £19 per share in the middle of its stated range. The […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — Online retail giant Amazon announced Tuesday it would raise its starting wage for US workers to $15 an hour, amid long-standing criticism of low pay, and would advocate for a higher minimum wage nationwide. The pay raise will apply to 250,000 employees starting November 1 and to the more than 100,000 seasonal workers the company expects to hire for the holiday shopping season, it […]
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in August 2016, to support non-mining industries as an unprecedented investment in resources waned. “The low level of interest rates is continuing to […]
HONG KONG, United States (AFP) — Oil prices held around four-year highs Tuesday after another blistering rally, supporting energy firms, but most markets were in retreat as traders brushed off a positive lead from Wall Street and the US-Mexico-Canada trade deal. Crude has motored in recent weeks on concerns about supplies after sanctions are imposed on Iran next month, while OPEC’s decision not to ramp up output, upheaval in Venezuela, a strong dollar and a […]
