Business

Asian markets track big losses on Wall St after China retaliates

HONG KONG, China (AFP) — Asian markets extended a global sell-off Tuesday following hefty losses on Wall Street that came in response to China’s hike in tariffs on $60 billion of US imports, ramping up tensions in a trade war between the global economic titans. The move by Beijing was followed by a warning of further action such as dumping US Treasuries and came days after Washington more than doubled levies on $200 billion of […]

China fires back at US with tariff hike on goods worth $60 billion

by Poornima WEERASEKARA BEIJING, China (AFP) — China said Monday it will raise tariffs on $60 billion worth of US goods from June 1, in retaliation for the latest round of US tariff hikes and Washington’s plans to target almost all Chinese imports. The announcement came after the latest round of US-China trade negotiations ended Friday without a deal, and after Washington increased tariffs on $200 billion worth of Chinese products. US President Donald Trump […]

Amazon offers employees $10,000 to quit, launch delivery business

WASHINGTON, United States (AFP) — Amazon said Monday it was offering employees $10,000 to quit their jobs and become independent package delivery entrepreneurs for the online retail colossus. An Amazon statement said the latest incentive would also include three months of wages for employees who want to start their own delivery enterprise, and that they would be assured “consistent delivery volume” from the company. The move comes with Amazon seeking to reduce its dependence on […]

Lack of US-China trade deal weighs on Asian markets

HONG KONG, China (AFP) — Markets in Asia were largely down in morning trade on Monday as the lack of a US-China trade deal cast a cloud over the market. Investors watched the latest developments warily in the trade war between the world’s top two economies, after negotiations in Washington ended Friday without agreement and a tariff hike on Chinese imports went into effect. White House economic advisor Larry Kudlow said US President Donald Trump […]

US-China trade talks resume, Trump says deal still ‘possible’

by Douglas Gillison with Ryan McMorrow in Beijing WASHINGTON, United States (AFP) — US and Chinese officials returned to the bargaining table late Thursday amid a sudden flare-up in hostilities, while President Donald Trump held out hopes of salvaging a trade deal. The Chinese delegation, including Vice Premier Liu He, was greeted by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. With punishing US tariffs on hundreds of billions in Chinese merchandise due […]

Camiguin could hit 1M tourists, bolstered by Skyjet’s game-changing direct flights to the “island born of fire”

By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service Foreign and local tourists can now easily “come again” to Camiguin with Skyjet Airlines’s first-ever direct flight to the island in the coast of Southern Philippines whose volcanic origins and eruptions got its brand as the “island born of fire.” From its inaugural flight last May 6, Skyjet flies to Camiguin daily (except Tuesdays and Wednesdays).  “Right now, we wanted to do a daily flight but […]

China’s exporters fret over Trump tariffs

by Ryan MCMORROW BEIJING, China (AFP) — With the eyes of the world on Washington for this week’s high-stakes trade talks between China and the United States, none will be more focused than those of Chinese exporters who are increasingly worried about the impact of more tariffs. Companies shipping a range of products from seafood to furniture are among those in the firing line as the economic superpowers try to resolve a trade war that […]

Asian markets resume downward spiral on growing trade fears

HONG KONG, China (AFP) — A red wave swept across Asia trading floors Wednesday as investors grow increasingly concerned that the China-US trade deal, which appeared all by ready to sign, could fall through. After months of healthy gains across markets this year, Donald Trump’s threat to hike tariffs on a raft of Chinese imports from Friday sent shockwaves around the world and rekindled the spectre of a painful trade war between the planet’s biggest […]

Asian markets plunge as Trump threatens to hike China tariffs

HONG KONG, China (AFP) — President Donald Trump sent Asian markets plunging Monday after threatening to hike tariffs on $200 billion of Chinese goods at the end of the week in a bid to speed up stuttering trade talks between the economic superpowers. Shanghai and Hong Kong equities led big losses across the region, with the Chinese yuan also taking a battering after the president threw a spanner into the high-level negotiations, which many observers […]

US-China trade dilemma: how to hold Beijing’s feet to the fire

by Delphine TOUITOU WASHINGTON, United States (AFP) — US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain? With up to 100 Chinese officials reportedly expected next week in Washington, with the possibility of unveiling a grand agreement after months of tensions, that question is hanging over the talks. […]

Most Asian markets rise, energy firms hit by oil demand fears

HONG KONG, China (AFP) — Most Asian markets rose Thursday as forecast-beating earnings from Apple provided a much-needed bounce for the tech sector, though energy companies dropped on concerns about slowing US oil demand as supplies climb. Investors ignored a retreat on Wall Street, where all three main indexes were weighed by disappointment that the Federal Reserve brushed off weak inflation and dented hopes for a possible interest rate cut. Regional traders were in buying […]

Apple tops forecasts as pivot to services shows progress

by Julie CHARPENTRAT / with Rob Lever in Washington Agence France Presse San Francisco, United States (AFP)– Apple delivered stronger-than-expected results Tuesday for the past quarter as gains in services helped offset slumping iPhone sales, sparking a rally in shares of the technology giant. California-based Apple reported a 16 percent drop in profits in the just-ended quarter to $11.6 billion, as overall revenues dipped five percent to $58 billion. Apple shares rallied five percent in […]