Growth of global value chains stalls amid trade conflicts: WB

The growth of global value chains, a key driver of trade and poverty reduction in emerging market countries, has largely stalled in the past decade and is under threat from trade conflicts and emerging new technologies, the World Bank said on Tuesday.
9 October 2019, 18:00 PM

US economy likely to keep growing: Fed’s Powell

The American economy should continue its expansion, with strong jobs markets but with price pressures in check and inflation approaching the central bank’s target, Federal Reserve Chairman Jerome Powell said Tuesday.
9 October 2019, 18:00 PM

HK bourse pulls plug on $39b play for London Stock Exchange

Hong Kong’s bourse has scrapped its unsolicited $39 billion approach for London Stock Exchange Group after failing to convince LSE management and investors to back a move that could have transformed both global financial services giants.
8 October 2019, 18:00 PM

Most Asian currencies edge higher ahead of Sino-US trade talks

Most Asian currencies edged higher on Tuesday with the Chinese yuan firming the most after reopening from a week long holiday while investors held positions ahead of the high level Sino-US trade talks on Thursday and Friday.
8 October 2019, 18:00 PM

Japan’s household spending rises for ninth month

Japan’s household spending rose for the ninth straight month in August, offering some relief for the export-dependent economy amid the US-China trade war, but a fall in wages points to further strains on consumers after a sales tax hike this month.
8 October 2019, 18:00 PM

EU finance commissioner pledges to regulate digital currencies

The European Union’s finance commissioner pledged on Tuesday, if he is reappointed, to propose new rules to regulate virtual currencies such as Libra, the currency Facebook plans to launch.
8 October 2019, 18:00 PM

Oracle to hire 2,000 workers to expand cloud business

Oracle Corp plans to hire nearly 2,000 additional workers as part of an aggressive plan to roll out its cloud computing services to more locations around the world, its cloud chief told Reuters on Monday.
8 October 2019, 18:00 PM

China services sector growth falls to seven-month low

China’s services sector grew at its slowest pace in seven months in September despite a strong increase in new orders, as operating expenses continued to rise at the end of the third quarter, a private survey showed on Tuesday.
8 October 2019, 18:00 PM

Civil aviation aims for long-term CO2 cuts

International aviation officials meeting in Montreal pledged on Monday to step up their efforts to limit carbon emissions over the long-term, despite pushback from China and Russia, the ICAO announced.
8 October 2019, 18:00 PM

End of Libor: biggest banking challenge you’ve never heard of

On June 30, British bank NatWest sent out an arcane-sounding press release - bus operator National Express had become the first company to take out a loan based on Sonia, a replacement for scandal-hit interest rate benchmark Libor.
8 October 2019, 18:00 PM

India’s services sector contracts in Sept

India’s dominant services sector slipped into contraction in September as new business orders fell for the first time since early 2018, according to a private survey which also found business optimism at its lowest in 2-1/2 years.
6 October 2019, 18:00 PM

EU report to lay out options for dev financing overhaul

A European Union review of how to deploy the bloc’s international lending firepower will be delivered to finance ministers next week, sources have told Reuters, with three options for a major overhaul of its current set-up.
6 October 2019, 18:00 PM

Slight retreat in gold prices adds to festive lure in India

A dip in prices earlier this week fuelled an uptick in physical gold demand in Singapore and India, with activity in the Indian market also gathering pace ahead of key festivals.
6 October 2019, 18:00 PM

BP to make Bernard Looney CEO as climate challenge looms

Bernard Looney, who will replace Bob Dudley as chief executive of BP when he retires next year, faces the tricky task of navigating the energy major through a rising tide of environmentalism and the move to a low-carbon economy.
6 October 2019, 18:00 PM

UAE telecom du sees no evidence of ‘security holes’ in Huawei’s 5G technology

United Arab Emirates (UAE) telecoms company du saw no evidence of security concerns about Huawei’s 5G technology, the company’s chief technological officer Saleem Albalooshi told Reuters on Sunday.
6 October 2019, 18:00 PM

Analysts cut Asian firms’ 2019 profit outlook on trade worries

Analysts have cut their earnings forecasts for Asian firms over the past month due to concerns over US-China trade tariffs and slowing global economic growth, Refinitiv data shows.
6 October 2019, 18:00 PM

SpiceJet could take more of Jet Airways’ 737 MAX planes: chairman

Indian low-cost carrier SpiceJet Ltd may consider taking some of the Boeing 737 MAX planes that were due to be delivered to now bankrupt Jet Airways but are still sitting in Seattle, its chairman said on Friday.
6 October 2019, 18:00 PM

PG&E says it has $34.45b in debt financing for reorganisation

PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion for a planned Chapter 11 bankruptcy reorganisation, countering a group of noteholders that has proposed its own reorganization plan for the California power producer.
6 October 2019, 18:00 PM

US retailers eye strong holiday season despite trade worries

DESPITE the flurry of trade and political uncertainties hanging over the US economy, the National Retail Federation on Thursday said it expects Americans to continue to spend and load up on gifts in a strong holiday shopping season.
5 October 2019, 18:00 PM

China’s yuan to slip to new decade lows as trade war drags on

The Chinese yuan will slip by year-end to deeper lows last hit against the US dollar during the 2008 global financial crisis as the authorities nudge the partly managed currency down while the US-China trade war rumbles on, a Reuters poll showed.
5 October 2019, 18:00 PM