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HONG KONG, China (AFP) — Hong Kong and Shanghai stocks led a sell-off across Asian and European markets Tuesday on rising trade war fears after Donald Trump threatened fresh tariffs on Chinese imports and Beijing warned of countermeasures. Trump said he had asked the US Trade Representative to identify $200 billion worth of imports to be targeted, adding he would hit a further $200 billion if Beijing retaliates. Investors were already on edge after the world’s […]
By Phoebe Salvador Eagle News Service The Philippines has been chosen as the first country to become the administrator of the Association of Southeast Asian Nations (ASEAN) Small and Medium Enterprise (SME) Academy through the Department of Trade and Industry (DTI). In a statement, the DTI said that in particular, the Philippine Trade Training Center (PTTC) was named as the administrator of the academy, a one-stop multi-platform online learning and information resource for Southeast Asian SMEs. […]
SAN FRANCISCO, United States (AFP)—Tesla chief Elon Musk told employees Monday the electric carmaker is being reorganized to speed up production of Model 3 vehicles — a key to profitability at the fast-growing firm. “To ensure that Tesla is well prepared for the future, we have been undertaking a thorough reorganization of our company,” the memo obtained by AFP said. “As part of the reorg, we are flattening the management structure to improve communication, combining […]
TOKYO, Japan (AFP) — Japanese technology giant Fujifilm said Tuesday it was suing US firm Xerox, seeking more than $1 billion in damages after a merger between the two firms was scrapped last month. Fujifilm slammed what it said was a “unilateral decision to terminate without legitimate cause” the planned merger announced in January. The merger was shelved after a lawsuit by powerful shareholders Carl Icahn and Darwin Deason, who together own more than 15 […]
SYDNEY, Australia (AFP) — Apple was Tuesday fined Aus$9 million (US$6.7 million) by an Australian court for making false claims about consumer rights when refusing to fix faulty iPhones and iPads previously repaired by a third party. Customers of the US tech giant had complained to the Australian Competition and Consumer Commission (ACCC) after an operating system update disabled their devices in a global issue known as “error 53”. The users were told by Apple […]
HONG KONG, China (AFP) — Fresh fears of a trade war between the world’s top two economies sent most Asian markets tumbling on Monday after the United States and China imposed tit-for-tat tariffs on billions of dollars of imports. Energy firms were among the biggest losers as oil prices plunged ahead of a key OPEC meeting, where Saudi Arabia and Russia are expected to lift a two-year-old production cap. Donald Trump’s decision to hit China […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Monday amid lingering worries over a US-China trade war and after a strong earthquake shook western Japan with no immediate reports of major damage. The benchmark Nikkei 225 index slipped 0.39 percent or 88.97 points to 22,762.78 in early trade, while the broader Topix index was down 0.53 percent or 9.51 points at 1,779.53. “Concerns over a US-China trade war are weighing on the market, prompting […]
TOKYO, Japan (AFP) — Japan’s SoftBank is planning to invest between $60-100 billion in a solar power project in India, a Japanese report said Friday, as the firm looks to expand its interests into various sectors. The report by public broadcaster NHK comes after SoftBank announced in March it would partner Saudi Arabia on a multi-billion dollar solar project that the company’s founder called the largest in the world. NHK said the massive investment in India […]
SAN FRANCISCO, United States (AFP) — Snapchat messaging service on Thursday set out to spread its reach, and panache, to other smartphone apps with a software kit that promised to share little data about users. Parent company Snap said people will be able to use Snapchat credentials to sign into apps the way they might do using Facebook or Google credentials, while strictly limiting access to personal data or activity tracking. The software kit […]
TOKYO, Japan (AFP) — The Tokyo DisneySea theme park is getting a $2.3 billion overhaul and adding a section based on the wildly popular movie “Frozen” to its offerings, its operator said Thursday. Oriental Land, which runs the ocean-themed park as well as the adjacent Tokyo Disneyland and hotels, said the 250-billion-yen ($2.3-billion) undertaking will be the most expensive expansion plan in the site’s 35-year history. The project will add attractions replicating the Kingdom of […]
LONDON, United Kingdom (AFP)–Rolls-Royce, the British maker of plane engines, said Thursday that it plans to cut 4,600 mainly British jobs by 2020, adding to thousands of cuts already announced in recent years. “Rolls-Royce announces the next stage in our drive for pace and simplicity with a proposed restructuring that will deliver improved returns, higher margins, and increased cash flow,” the group said in a statement. The London-listed company, whose engines are used in Airbus […]
HONG KONG, China (AFP) — Asian markets mostly fell Thursday after the Federal Reserve hiked interest rates and signaled a more hawkish tone for future moves, while US President Donald Trump stoked trade war fears by suggesting he will hit China with fresh tariffs. After a keenly watched meeting, the US central bank lifted borrowing costs, as expected, but indicated another two this year and four in 2019 as the world’s top economy continues to […]
