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by John BIERS Agence France Presse NEW YORK, United States (AFP) — A collective sigh of relief swept across global trading floors on Tuesday as bargain hunters swooped in to buy Wall Street stocks, stemming a hemorrhage that had been spreading panic among investors. With Asian and European equity markets plunging, New York stocks started their trading day with another jaw-dropping fall as the Dow index dived nearly three percent, adding to the previous day’s […]
by Roland Jackson Agence France Presse LONDON, United Kingdom (AFP) — Panic gripped trading floors across the world on Tuesday, with Asia and Europe plunging after record-breaking losses on Wall Street, as investors fretted over the prospect of rising US interest rates and took profits following months of markets euphoria. The selloff began last Friday when bright US non-farm payrolls data sparked fears that inflation will surge this year — and that the Federal […]
The Department of Finance (DOF) has so far engaged 65 of the country’s 76 government regulatory agencies that are required to go online to streamline applications for permits on imports and exports in line with the Duterte administration’s goal of improving the ease of doing business. DOF Undersecretary Gil Beltran also said the initial tests on the country’s interconnection with other ASEAN economies, starting with Indonesia via the ASEAN Single Window (ASW), had been successful, […]
SINGAPORE, Singapore (AFP) — Boeing said Tuesday its global services unit has signed deals worth nearly $1 billion at the Singapore Airshow in areas like parts, maintenance, modification and training. The deals underscore the growing importance of the huge commercial aviation market in the Asia-Pacific region. “Boeing is serious about helping customers optimise the performance of their fleets and reduce operational costs,” said Stan Deal, president and chief executive of Boeing Global Services. Among the […]
TOKYO, Japan (AFP) — Japanese car giant Toyota on Tuesday forecast a record full-year net profit, as the figure jumped more than 40 percent for the nine months to December. Boosted by robust global sales and a weak yen, Japan’s top carmaker expects to bank net profit of 2.4 trillion yen ($22 billion) for the fiscal year to March 2018, up from its earlier estimate of 1.95 trillion yen. Annual sales are now forecast at 29 trillion […]
SYDNEY, Australia (AFP) — Australia’s central bank on Tuesday kept interest rates at a record low in its first meeting of the year, with inflation still soft and the outlook for household spending uncertain. The Reserve Bank of Australia has not adjusted rates since August 2016, following a series of cuts from November 2011 that took it to 1.50 percent in a bid to boost non-mining sectors of the economy. Governor Philip Lowe said in […]
TOKYO, Japan (AFP) — Bitcoin plunged 20 percent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year. Tuesday’s collapse comes just six […]
NEW YORK, United States (AFP) — Wall Street stocks endured a brutal session Monday, with the Dow seeing one of its steepest ever one-day point drops, as the heady bullishness of early 2018 gave way to extreme volatility. The Dow Jones Industrial Average tumbled 4.6 percent to 24,345.75, having at one point plummeted nearly 1,600 points to hit a session low of 23,923.88. The broad-based S&P 500 dropped 4.1 percent to 2,648.94, while the tech-rich […]
by Rob Lever Agence France-Presse WASHINGTON, United States – Broadcom raised its bid for rival computer chipmaker Qualcomm on Monday to $121 billion, offering the richest-ever takeover effort in the tech sector in an effort to become the dominant player in the fast-growing market for connected devices. Singapore-based Broadcom, which has begun a process to reincorporate in the United States, called the hostile bid its “best and final offer.” The price hike steps up the pressure on California-based […]
SAN FRANCISCO, United States (AFP) – Two tech giants racing for a lead in autonomous driving clashed Monday in court as former Google car unit Waymo’s lawyer argued that Uber’s boss deliberately chose “to cheat” to get a leg up on competitors. The accusations flew in the opening day of a trial in which Google parent Alphabet’s Waymo division is seeking at least $1 billion over the theft of trade secrets from its self-driving car program. In opening remarks […]
BEIJING, China (AFP) — Japanese automaker Nissan Motor and its Chinese joint venture partner announced on Monday a $9.5 billion investment plan in China to increase annual sales by one million vehicles and boost electric car production. Dongfeng Motor Company is the latest Sino-foreign car company to splash out as China rolls out new regulations to limit gas vehicles and boost production of electric cars in coming years. Nissan’s high-end brand, Infiniti, will go all electric in […]
HONG KONG, China (AFP) — Asian markets tumbled on Monday after US stocks were pummelled at the end of last week, with traders fretting that a surging US economy will lead to sharp interest rate hikes by the Federal Reserve. The selling was also fuelled by profit-taking after a blistering January that saw several indexes strike record or multi-year highs, while tech firms took a hit from disappointing reports by Apple and Google parent Alphabet. […]
