Business News

Business News

  • Shares soothed by stimulus, oil heads higher
    by Reuters on September 20, 2019 at 8:48 am

    LONDON — World shares rose on Friday as stimulus measures by major central banks eased worries about growth, especially in Asian markets, while oil headed for its best week since January. China cut a key lending rate for the second straight month on Friday, becoming the third major central bank to cut interest rates in

  • Retailers, defensives lead European shares higher
    by Reuters on September 20, 2019 at 8:43 am

    European shares were set for their fifth straight week of gains on Friday, led by defensive and retail stocks, but gains were limited as investors remained cautious about a wider economic slowdown and progress in U.S.-China trade talks. A 1.08% increase in the retail sector helped lift the pan-European STOXX 600 index by 0.2%. Investors

  • Military strike against Iran would result in 'all-out war': Zarif
    on September 20, 2019 at 8:29 am

    Any U.S. or Saudi military strike against Iran would bring "all-out war", Tehran said on Thursday, keeping up a drumbeat of warnings to its adversaries after they accused the Islamic Republic of a strike on Saudi oil facilities.

  • 'Catastrophic flooding' threatens heart of Texas oil industry
    by RT on September 20, 2019 at 8:28 am

    Flooding from a tropical storm hit the Houston area on Thursday, with some calling the situation worse than Hurricane Harvey. Read Full Article at RT.com

  • Google to invest 3 billion euros in European data centers
    on September 20, 2019 at 8:16 am

    Google will make an additional investment of 3 billion euros ($3.3 billion) over the next two years to expand its European data centers, Chief Executive Sundar Pichai said in Finland.

  • Google to invest 3 billion euros in European data centers
    by Reuters on September 20, 2019 at 8:12 am

    Google will make an additional investment of 3 billion euros ($3.3 billion) over the next two years to expand its European data centers, Chief Executive Sundar Pichai said in Finland. The investment plan includes an additional 600 million euros investment in the Hamina data center in Finland, bringing total investment in the site to 2

  • Japan’s Pan Pacific sees global copper shortage shrinking in 2020
    by Reuters on September 20, 2019 at 8:02 am

    TOKYO — Pan Pacific Copper (PPC), Japan’s top copper smelter, expects a global shortage in copper to be less acute next year as top consumer China’s output increases and its demand growth softens amid the prolonged U.S.-Sino trade row, a company official said. PPC, which is also a miner and is controlled by JXTG Holdings,

  • Britain's Thomas Cook scrambles for $250 million to avert collapse
    on September 20, 2019 at 8:00 am

    Britain's Thomas Cook scrambled on Friday to find an extra 200 million pounds ($251 million) to satisfy its lenders and secure the survival of the world's oldest holiday company.

  • Older Canadians reinvent themselves as 'seniorpreneurs' — in hopes it'll pay off
    by Jacqueline Hansen on September 20, 2019 at 8:00 am

    So-called ‘seniorpreneurs’ are part of a quickly growing group of older Canadians who are working beyond the traditional retirement age of 65, as savings rates for all Canadians stall below 2 per cent.

  • Thomas Cook races to secure more rescue funds
    on September 20, 2019 at 7:51 am

    The travel firm faces administration unless it finds another £200m demanded by bank creditors.

  • RBS is first UK big four bank to be led by a woman
    on September 20, 2019 at 7:39 am

    Alison Rose will replace Ross McEwan as chief executive of the state-owned lender.

  • European shares rise as retailers, defensive stocks gain
    by Reuters on September 20, 2019 at 7:38 am

    European shares opened higher on Friday, set for their fifth straight week of gains, with the retail sector outperforming and investors rotating into defensive stocks. The European retail sector jumped 0.8%, the most among the main sub-sectors, powered by a 2.7% gain in Casino after the debt-laden French retailer said it was in talks to

  • FTSE 100 loses ground as exporters slip, Rolls-Royce topples
    by Reuters on September 20, 2019 at 7:37 am

    Britain’s top share index edged lower on Friday as exporter stocks weakened on the back of a firmer sterling, driven by rising hopes of a Brexit deal, and Rolls-Royce tumbled after longer-than-expected repairs of its Trent 1000 engines. The FTSE 100 slipped 0.3% by 0715 GMT, while the domestically-focussed FTSE 250 index inched 0.2% higher.

  • Rolls-Royce sees further delay in Trent 1000 engine overhaul
    on September 20, 2019 at 7:31 am

    British engineering firm Rolls-Royce said on Friday it expects problems with its Trent 1000 engines to take longer to fix, with a target of fewer than 10 grounded aircraft delayed until the second quarter of 2020.

  • Explainer: Abe, Trump head for trade deal; auto tariffs a sticking point
    on September 20, 2019 at 7:26 am

    U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe are expected to clinch a deal on farm tariffs and digital trade when they meet in New York next week.

  • India delivers surprise corporate tax cuts to boost economy
    on September 20, 2019 at 7:25 am

    The surprise move is part of efforts to revive investment and spur growth in Asia's third largest economy.

  • Dollar set for third week of losses in a big week for central banks
    by Reuters on September 20, 2019 at 7:25 am

    LONDON — The dollar edged lower on Friday and was headed for a third straight week of losses as expectations of a breakthrough in trade tensions between Washington and Beijing fueled a revival in risk appetite. The losses came after the Federal Reserve cut interest rats by a quarter-point rate, compounded by a spike in

  • China sovereign fund CIC says cautious of U.S. investment amid trade war
    on September 20, 2019 at 7:18 am

    China Investment Corp (CIC) reported a 37% dive in annual profit on Friday and said the ongoing Sino-U.S. trade war has made the Chinese sovereign wealth fund more cautious about investing in the United States.

  • U.S., Chinese trade deputies face off in Washington amid deep differences
    on September 20, 2019 at 7:18 am

    U.S. and Chinese deputy trade negotiators resumed face-to-face talks for the first time in nearly two months on Thursday, as the world's two largest economies try to bridge deep policy differences and find a way out of their protracted trade war.

  • Alison Rose gets top job at RBS, first woman to lead major UK lender
    on September 20, 2019 at 7:16 am

    Royal Bank of Scotland named Alison Rose as its new chief executive on Friday, becoming the first major British lender to appoint a woman to its top job.

  • Economic stimulus lifts shares, oil edges up on Mideast tensions
    on September 20, 2019 at 7:13 am

    Asian share prices rose on Friday as economic stimulus around the world helped eased fears over slowing growth, while crude oil prices climbed on concerns that last weekend's attacks on Saudi Arabia's oil facilities still pose supply risks.

  • Singapore luxury apartment sales hit 11-year high, driven by Chinese demand
    on September 20, 2019 at 7:11 am

    Sales of Singapore apartments worth at least S$10 million ($7.3 million) have hit an 11-year high, fueled by increased demand from Chinese millionaires seeking safe-haven assets, say property consultants OrangeTee & Tie.

  • Singapore luxury apartment sales hit 11-year high, driven by Chinese demand
    by Reuters on September 20, 2019 at 7:00 am

    SINGAPORE — Sales of Singapore apartments worth at least S$10 million ($7.3 million) have hit an 11-year high, fueled by increased demand from Chinese millionaires seeking safe-haven assets, say property consultants OrangeTee & Tie. Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbors,

  • Britain’s Thomas Cook scrambles for $250 mln to avert collapse
    by Reuters on September 20, 2019 at 6:43 am

    LONDON — Britain’s Thomas Cook scrambled on Friday to find an extra 200 million pounds ($251 million) to satisfy its lenders and secure the survival of the world’s oldest holiday company. Last month Thomas Cook, the pioneer of the package tour, agreed key terms of a 900 million pound recapitalisation plan with Chinese shareholder Fosun

  • China cuts new loan rate for second month but struggling economy likely needs more
    by Reuters on September 20, 2019 at 6:34 am

    SHANGHAI — China cut its new one-year benchmark lending rate for the second month in a row on Friday, a step by the central bank to try to wrestle down borrowing costs and support the economy as the Sino-U.S. trade war drags on. But the move was far more cautious than easing by the U.S.

  • Cloud and clear: Tencent draws on gaming tech to lift B2B cloud ambitions
    on September 20, 2019 at 5:59 am

    Tech giant Tencent Holdings Ltd plans to leverage its strengths in video games and social media to grab market share in China's burgeoning cloud computing sector from incumbent Alibaba, the head of its cloud unit told Reuters.

  • Climate change: Firms make green energy vows as call for action grow
    on September 20, 2019 at 4:06 am

    Amazon and Google are among global firms setting out new green energy plans as climate pressure rises.

  • FAA waiting for more software details before 737 MAX can return to service
    on September 20, 2019 at 3:54 am

    Boeing Co still has a series of steps to complete before the 737 MAX can return to service, including submitting a pre-production version of a software update, Federal Aviation Administration chief Steve Dickson said.

  • Exclusive: Venezuela opposition eyes U.N. asset protection as option to save Citgo
    on September 20, 2019 at 3:28 am

    Venezuela's opposition is preparing to seek an asset protection program from the United Nations to prevent creditors from seizing the country's crown jewel overseas asset, U.S. refiner Citgo, a lawmaker and two opposition sources told Reuters.

  • House Democrats ask if Trump interfered in DOJ automaker antitrust probe
    on September 20, 2019 at 2:44 am

    Two U.S. Democratic lawmakers on Thursday asked the White House to turn over documents that would show if President Donald Trump interfered or directed a Justice Department antitrust probe of four automakers that struck voluntary agreements with California to reduce tailpipe emissions, according to a letter seen by Reuters.

  • Real crunch from Saudi Arabia's oil outage has yet to be felt
    on September 20, 2019 at 2:22 am

    Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say.

  • Facebook CEO Zuckerberg meets Trump, seeks to mend fences in Washington
    on September 20, 2019 at 12:57 am

    Facebook's Mark Zuckerberg met with President Donald Trump on Thursday during a fence-mending visit to Washington where the chief executive faced aggressive questioning from lawmakers about the social network's failures to protect consumer privacy.

  • Beyond Meat names former Tesla executive as COO
    on September 20, 2019 at 12:48 am

    Beyond Meat Inc said on Thursday it has named former Tesla Inc executive Sanjay Shah as chief operating officer, effective Sept. 18.

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