SYDNEY Asian shares inched to 19-month highs on Tuesday as the potential for economic stimulus in the United States underpinned the dollar, bond yields and Wall Street stocks. Yet caution bled into markets ahead of testimony by the head of the Federal Reserve, which could highlight the likelihood of two or more U.S. interest rate hikes this year. Japanese shares also ran into trouble after Toshiba Corp […]
Tuesday 04:40 GMT. Overview Equities in Asia were struggling ahead of comments by Federal Reserve chair Janet Yellen and as oil prices climbed back from a drop spurred by a report indicating output from the US was set to pick up. Hot topic Stock markets in the region deteriorated in afternoon trading, with Australia’s S&P/ASX 200 flat after giving up an early gain of 0.4 per cent, […]
HONG KONG A Hong Kong court found seven police officers guilty on Tuesday of beating a handcuffed pro-democracy activist during demonstrations in 2014, a rare incident of police brutality in the financial hub that triggered public outrage. The 79 days of student-led protests paralysed parts of Hong Kong and posed one of the greatest challenges to the central government in Beijing in decades. But Beijing gave no […]
BEIJING Senior officials need to “build a fence” to ensure neither they nor those around them abuse power, and must practice greater self-discipline, state media cited President Xi Jinping as saying as he drives home his anti-corruption message. Since assuming office four years ago, Xi has waged war on deep-seated graft, warning like others before him that the problem is so bad it could affect the party’s […]
Along with rising component prices and development and maintenance fees on sales channels, huge research and development (R&D) expenditures eroded Huawei’s margin and profits last year, according to a Sohu article, citing insiders from the Chinese technology firm. Huawei sold 30 percent more handsets year-over-year but profits from its consumer business group, which includes the smartphones segment, was down 10 percent from the year prior to $2 […]
(Corrects to show bus crash occurred on Monday, not Tuesday) TAIPEI At least 32 people were killed when a tour bus crashed on a highway near Taipei on Monday night, with Taiwanese television footage showing the bus careening toward a road barrier at a highway curve before flipping on its side. Forty-four people were in the bus, not the previously estimated 45, according to the latest figures […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Major Garrett of CBS News is rising to the defense of the extravaganza that is the White House Correspondents’ Association Dinner — and he is nearly convincing. Garrett is a very good, no B.S. reporter who adeptly made the print-to-TV […]
A model of EHang 184 and the next generation of Dubai Drone Taxi is seen during the seconde day of the World Government Summit in Dubai, United Arab Emirates, Monday, Feb. 13, 2017. Dubai hopes to have a passenger-carrying drone buzzing through the skyline of this futuristic city-state in July. Mattar al-Tayer, the head of Dubai’s Roads & Transportation Agency, made the surprise announcement Monday at the […]
Dubai’s Roads and Transport Authority (RTA), in collaboration with the Chinese EHANG Company, on Monday announced that it had carried out the first test run of an autonomous aerial vehicle (AAV) capable of carrying a human, a world first. RTA said in a statement that it is set to start the operation of the AAV, named EHANG184 – effectively a driverless flying car – as early as […]
Markets have started this week feeling much relieved, notes Bloomberg’s Richard Breslow, as the understandable fears that U.S.-Asia strategy might continue their lurch toward direct economic confrontation were given a respite. The phone call with Chinese President Xi went better than feared. And once the picture of the Japanese Prime Minister and American President high-fiving on the golf course was passed around, the sighs of relief were […]
|By Matein Khalid| The US Dollar Index has now fallen 3.5% since it peaked on January 3. Donald Trump and his White House aides broke the 20 year taboo against speaking out against the “strong dollar” policy platitudes. The Federal Reserve did not raise interest rates and signaled no rate hike is imminent at the March FOMC. It is significant that the US dollar has fallen against […]
By Jamie McGeever | LONDON LONDON World stocks and bond yields rose on Monday, lifted by a re-emergence of so-called “Trump trades” as investors bet that the U.S. president’s tax reform plans will boost economic growth and corporate profits. Following on from Friday’s record high closes on Wall Street, Asian stocks rallied to 1-1/2-year peaks and European stocks rose for the fifth consecutive session on Monday, their […]
Submitted by Nick Kaman of Letters from Norway Introduction: Norwegians are just now starting to grapple with the effects of their “single cylinder” economy, mostly dependent on oil and gas (ca. 60% of exports). Despite optimism about $50-$70/barrel oil, American crude output is surging, on track to be the highest ever, since 1970, while cracks start to form in OPEC’s latest agreement. In addition to the oil […]
By Meng Meng and Josephine Mason | BEIJING BEIJING China is considering forcing steel and aluminium producers to cut more output, banning coal in one of the country’s top ports and shutting some fertiliser and drug plants as Beijing intensifies its war on smog, a draft policy document shows. The Ministry of Environmental Protection (MEP) has proposed the measures in a draft policy document seen by Reuters. […]
SEOUL North Korea said on Monday it had successfully test-fired a new type of medium- to long-range ballistic missile a day earlier, claiming further advancement in a weapons programme it is pursuing in violation of United Nations resolutions. North Korea fired the ballistic missile on a high arc into the sea early on Sunday, the first test of U.S. President Donald Trump’s vow to get tough on […]
China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
“She’s a spokesmodel for their hairless dog line,” Young-Johnson said. Then there are the Chinese cresteds, the Rodney Dangerfields of the dog world. The lack of respect is probably related to the nakedness of their often-freckled bodies, thrown into vivid relief by the fright-wig-like hair on their heads and the fluffy fur around their feet, giving them a frantic, slightly unhinged appearance. Continue reading the main story […]
It was a weekend that included an intimate golf outing of more than four hours; a lavish Saturday night dinner; and an unexpected joint statement on North Korea’s missile launch. Yet even more notable was what the two-day summit between Donald Trump and Japan’s Shinzo Abe did not include — controversy. Three weeks into his presidency, Mr Trump appears to be adopting a more traditional US foreign […]
Video footage of a young cyclist who was run over by a bus sparked soul searching in India as local media declared that bystanders had failed to help him, choosing to film the scene instead. The 23-year-old man, Anwar Ali, was hit by a bus while cycling in Koppal in the southern state of Karnataka on Wednesday and died in hospital three hours later, police said. As […]
As Comcast last year conducted secret talks about a potential acquisition of DreamWorks Animation, five Chinese investors — including an elderly couple in Beijing — acquired an enormous stake in the storytelling studio. Over a three-week period ending on April 25, those five accounts purchased more than 2.1m DreamWorks shares, amounting to nearly 17 per cent of all trading in the stock, according to the Securities and […]
By Ju-min Park and Matt Spetalnick | SEOUL/WASHINGTON SEOUL/WASHINGTON North Korea fired a ballistic missile into the sea early on Sunday, the first such test since U.S. President Donald Trump was elected, and his administration indicated that Washington would have a calibrated response to avoid escalating tensions. The test was likely to have been of an intermediate-range Musudan-class missile that landed in the Sea of Japan, according […]
BEIJING Six officials in central China’s Hubei province have been punished for dozing off in a meeting on how to motivate lazy bureaucrats, state media and the local government said. Pictures of the sleeping officials have received widespread coverage in Chinese media over the past two days, amid President Xi Jinping’s sweeping crackdown on corruption, extravagance and dereliction of duty. The Communist Party discipline bureau in Hubei’s […]
In a centrally planned economy decisions on what to produce, how to produce and for whom are taken primarily by the government. The term is usually associated with communist economies. However, since US President Franklin D. Roosevelt implemented a robust range of government policies in the 1930s to counter the effects of the Great Depression, using principles that would be popularized by UK economist John Maynard Keynes, […]
Friday 21:00 GMT Overview US stocks and industrial commodities were riding high and the dollar forged ahead at the end of a week in which an outbreak of worries over forthcoming European elections was replaced by renewed bullishness about the policies of Donald Trump, US president. The more confident mood was also driven by optimism about corporate earnings and evidence of strong trade growth in China. Hot […]
