Business

Tesla sets March 14 ‘Model Y’ unveiling

WASHINGTON, United States (AFP) — Tesla is planning to unveil a new electric “crossover” vehicle March 14 which is slightly bigger and more expensive than its most affordable model, according to chief executive Elon Musk. Musk tweeted on Sunday that the “Model Y,” which had been discussed for several months, would be unveiled at the company’s design studio in Los Angeles. The news comes shortly after Tesla unveiled its lowest-priced Model 3, an electric car […]

Global stocks mixed on reports of trade deal progress

NEW YORK, United States (AFP) — Global stocks finished mixed on Monday following reports the United States and China were close to a major trade agreement that would roll back some of the tariffs imposed in recent months. Asian bourses pushed higher, Europe was mixed and Wall Street retreated in a reaction that analysts said partly reflected the belief a trade deal had already been priced into the market. “We had a positive reaction on […]

Asian markets rally as hopes of a trade deal get an extra boost

HONG KONG, China (AFP) — Asian markets rose Monday on growing optimism for a trade deal between China and the United States after reports said the two sides were close to a breakthrough. With a busy week of data releases and events coming up, investors got off to a positive start as they cheered stories saying the tariffs stand-off between world’s top two economies that has dragged on global growth could soon be resolved. The […]

US and China close to reaching major trade deal: report

NEW YORK, United States (AFP) — The United States and China are close to reaching a major trade deal that would see both sides lower some of the tariffs imposed during an often-bitter trade war, a report said Sunday. Negotiators for the two sides have made substantial progress and a final accord is close to being hammered out, according to the Wall Street Journal, which quoted anonymous sources on both sides. A deal would be […]

Asian markets rise as broadly positive week draws to a close

HONG KONG, China (AFP) — Markets rose in Asia on Friday though investors remain cautious as they await developments after the failure of the Trump-Kim summit while also keeping an eye on the stand-off between India and Pakistan. A better-than-expected reading on US economic growth lifted sentiment, while optimistic comments from a top White House economic advisor on the China-US trade talks also provided support. The gains put the region on course for another strong […]

Tesla’s ‘mass market’ $35k electric car ready to order, online

by Glenn CHAPMAN Agence France Presse SAN FRANCISCO, United States (AFP) — Tesla said Thursday its Model 3 — heralded as an electric car for the masses — is available for order online only, at a price of $35,000 with delivery promised within a month. The announcement fulfills a vision of Tesla founder and chief Elon Musk, who has touted a more affordable electric car as part of his vision of weaning drivers from gasoline-powered […]

US music industry streams double-digit revenue growth

NEW YORK, United States (AFP) — The US music industry posted its third straight year of double-digit growth in 2018 thanks to continued surges in streaming, an industry tracker said Thursday. Revenues from recorded music jumped 12 percent to $9.8 billion in estimated retail value, according to the Recording Industry Association of America, with 75 percent of revenues coming from streaming. The RIAA said paid subscriptions of streaming services like Spotify and Tidal soared to […]

Global stocks pressured by Kim-Trump summit failure

NEW YORK, United States (AFP) — World stock markets came under pressure Thursday as a summit between Donald Trump and Kim Jong Un ended abruptly without an agreement. Asian equities had been fluctuating throughout the day on tempered optimism over China-US trade talks, weak factory data from Beijing and fresh geopolitical tensions in Kashmir. But they took a decisive turn south after an expected lunch and signing ceremony between the United States and North Korean […]

Asian markets down as Kim-Trump summit ends abruptly

HONG KONG, China (AFP) — Asian markets mostly fell Thursday, led by Seoul, as a summit between Donald Trump and Kim Jong Un ended abruptly without an agreement. Equities had been fluctuating through the day on tempered optimism over China-US trade talks, weak factory data from Beijing and fresh geopolitical tensions in Kashmir. But they took a decisive turn south after an expected lunch and signing ceremony between the US and North Korean leaders was […]

Global stocks mostly fall amid trade, geopolitical concerns

NEW YORK, United States (AFP) — Global stocks mostly fell Wednesday amid uncertainty over trade and an escalating Indian-Pakistan conflict as the British pound rallied for a second session. An Asian market rally ran out of steam after Pakistan said it had shot down two Indian jets in its airspace in Kashmir, fueling concerns of conflict between the nuclear-armed rivals. While both sides have sought to play down the threat of war, the rare aerial […]

Much to be done on China trade: US Trade Rep Lighthizer

Washington’s chief trade negotiator on Wednesday said there remained much to do before reaching a new trade agreement with China despite “real progress” so far. After months of negotiating with Beijing, “now we are making real progress,” US Trade Representative Robert Lighthizer said in congressional testimony. However, “Much still needs to be done both before an agreement is reached, and more importantly after it is reached if one is reached.” Citing progress toward a new […]

Asian markets up on lingering trade hopes, sterling holds gains

HONG KONG, United States (AFP) — Asian markets were mostly up Wednesday with investors remaining positive about the prospects for a China-US trade deal while the pound held its gains as fears of a no-deal Brexit recede. Wall Street provided a tepid lead as Federal Reserve boss Jerome Powell gave little away to lawmakers on the central bank’s plans for monetary policy. With few catalysts to drive business, dealers are awaiting the latest developments in […]