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HONG KONG, China (AFP) — Most Asia markets rose on Thursday and the dollar extended losses after the Federal Reserve stuck to its target for interest rate hikes this year, soothing concerns it would embark on a quicker pace. After one of the most anticipated meetings in recent months, the central bank lifted borrowing costs as expected to a decade high but indicated just two more over the rest of the year, confounding forecasts of […]
SAN FRANCISCO, United States (AFP) — Tesla chief Elon Musk will only get paid if the company’s stock soars — but could cash-in to the tune of more than $50 billion if it does, according to a plan approved by shareholders Wednesday. A Tesla spokesperson confirmed that shareholders voted to approve the proposal for a 10-year performance stock award “entirely contingent on achieving market cap and operational milestones that would make Tesla one of the […]
HONG KONG, China (AFP) — Asian markets rallied on Wednesday, with energy firms boosted by a rush into oil after data indicated a jump in US demand and OPEC provided an optimistic outlook for supplies. The across-the-board gains come as investors await the conclusion of a crucial Federal Reserve policy meeting later in the day, which they hope will provide some clarity on its interest rate plans over the rest of the year. Worries that […]
TOKYO, Japan (AFP) — Tokyo stocks fell for the third straight session on Tuesday as high-tech shares faced selling pressure after a Facebook data breach scandal sent US stocks sharply down. The benchmark Nikkei 225 index lost 0.47 percent or 99.93 points to close at 21,380.97, while the broader Topix index was down 0.21 percent or 3.68 points at 1,716.29. “High-tech shares were hit by the data breach at Facebook,” said Hikaru Sato, senior technical […]
(Eagle News) — The government is targeting to bid out some P98.32 million-worth of state-owned assets in the first quarter of 2018, even as it reported that it had remitted more than half a billion pesos in the sale of state assets last year. This was according to the Privatization Management Office (PMO) of the Department of Finance (DOF) which reported that disposition of state properties for privatization along with cash dividends and other forms […]
NEW YORK, United States (AFP) — US stocks rose following a more placid session in terms of national politics on Friday, while European equities were boosted by data showing modest eurozone inflation. US equities have been pressured this week amid talk of additional US tariffs and as President Donald Trump has shaken up his Cabinet, moving to replace Rex Tillerson as secretary of state with current CIA Director Mike Pompeo. White House watchers are girding […]
HONG KONG, China (AFP) — Asian investors remained on edge Friday as the curtain came down on another volatile week for markets with fears of a global trade war playing off against a positive economic outlook. Investors have swung from optimism to pessimism since last week’s controversial move by Donald Trump to throw up tariffs on imports of some metals, with the removal of his moderate secretary of the state adding to the unease. However, […]
NEW YORK, United States (AFP) — Sportsgear maker Nike on Thursday announced the surprise departure of top executive Trevor Edwards, who was considered a potential successor to the firm’s CEO. Without making any direct connection, a Nike spokeswoman told AFP there had been “conduct inconsistent with Nike’s core values and against our code of conduct.” The spokeswoman said there were “no direct allegations of misconduct against Trevor Edwards,” who carried the title “brand president.” The […]
BEIJING, China (AFP) — Self-driving cars will hit the roads in China “within three to five years,” the founder of Chinese internet giant Baidu, one of the world’s leading designers of driverless cars, said Thursday. That is a lot sooner than predicted by China’s information technology minister, who last week said it would only be a reality in 8-10 years, citing constraints related to security. “I’m more optimistic than him, I think it will come […]
VIENNA, Austria (AFP) — Anglo-Dutch energy giant Royal Dutch Shell has announced it will sell assets in New Zealand to the Austrian oil and gas group OMV for $578mn. The deal includes stakes in the Maui and Pohokura gas fields and follows the company’s sale of its stake in the Kapuni field last year. Shell opened operations in New Zealand in 1911, but in 2015 announced a review of activities there as part of a […]
WASHINGTON, United States (AFP) — Toys ‘R’ Us said late Wednesday it will liquidate all of its US stores, heralding the end of what had been a pillar of the toy industry. “This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years,” CEO Dave Brandon said in a statement. © Agence France-Presse
HONG KONG, China (AFP) — Asian markets continued a global sell-off Thursday and the dollar weakened as trade war fears return to the fore, with worries Donald Trump will go full-steam ahead with his “America First” protectionist agenda. Investors are back on the ropes after the US said Wednesday it would take action at the World Trade Organization against Indian export subsidies. That came soon after it emerged Trump is considering tariffs on billions of […]
