Bitcoin near three-month lows after tepid response to NYSE owner’s futures

Bitcoin struggled on Wednesday to recover from the three-month lows it reached a day earlier, moves that traders blamed on a lukewarm reception for a futures product from the owner of the New York Stock Exchange.
25 September 2019, 18:00 PM

German industry raises pressure on Merkel to ditch policy of no new debt

Germany should ditch its policy of not taking on new debt in light of zero borrowing costs and huge investment needs, the head of the powerful BDI industry association said on Wednesday, raising the pressure on Berlin to rethink its budget priorities.
25 September 2019, 18:00 PM

Thomas Cook Germany in rescue talks with investors

THOMAS Cook’s German tour business filed for insolvency on Wednesday in a move aimed at separating its brands and operations from its failed parent, and said it was in talks with potential new investors.
25 September 2019, 18:00 PM

Trade tensions darken growth outlook for developing Asia: ADB

ESCALATING trade tensions between the United States and China have darkened the outlook for developing Asia, with the region expected to grow slower than previously predicted this year and next, the Asian Development Bank said on Wednesday.
25 September 2019, 18:00 PM

Saudi Aramco IPO unlikely to happen this year after oil attacks

SAUDI Arabia is unlikely to list its state-owned oil giant Aramco this year after attacks this month on its facilities, two sources with direct knowledge of the company’s thinking said.
25 September 2019, 18:00 PM

China to step up support as economy slows further: ADB

CHINA’S economic growth will ease further next year due to slowing exports and US trade tensions, the Asian Development Bank warned Wednesday as it revised downwards its GDP predictions.
25 September 2019, 18:00 PM

Oil prices fall

Oil prices fell for a second day on Wednesday on worries that fuel demand could fall after US President Donald Trump doused recent optimism over China-US trade talks at a time of rising US crude oil stockpiles.
25 September 2019, 18:00 PM

VW workers applaud chairman despite indictment

Volkswagen workers applauded Chairman Hans Dieter Poetsch at a mass meeting of employees at its headquarters on Wednesday, according to a participant, as staff appeared to close ranks behind its senior managers, three of whom have been indicted.
25 September 2019, 18:00 PM

Sri Lanka forces lending rate cuts on all banks

Sri Lanka’s main financial regulator Tuesday ordered local and foreign banks to slash lending rates in an unprecedented move as the economy struggled to recover from the Easter attacks.
25 September 2019, 18:00 PM

Modi’s big tax cut unlikely to spur job bonanza in India

With one eye on flagging demand, businesses in India are likely to bank the government’s $20.4 billion corporate tax windfall rather than unleash the investments that Prime Minister Narendra Modi hopes will create millions of jobs and revive the economy.
25 September 2019, 18:00 PM

Gold gains on global growth woes

Gold rose to a more than one-week high on Monday as weaker-than-expected economic data from Europe heightened fears of a slowdown in global growth, while palladium continued its record run driven by short supply of the auto-catalyst metal.
23 September 2019, 18:00 PM

Online banks to take bigger share of US deposit market

Online banks, such as Ally Financial Inc and Capital One Financial Corp, are expected to take a bigger chunk of the overall US deposit market, after racking up $95 billion in customer deposits this year with enticing yields on most savings accounts.
23 September 2019, 18:00 PM

Govt aims to sell Air India, other firms by March 2020

India aims to sell two or three state-owned firms to local or foreign firms to raise up to 600 billion rupees ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday.
23 September 2019, 18:00 PM

Fed should delve into causes of cash shortage

The Federal Reserve will have to delve into the causes of the cash shortage that hit financial markets last week and prompted the central bank to step in, New York Fed President John Williams said Monday.
23 September 2019, 18:00 PM

Eurozone ‘close to stalling as Brexit, trade fears bite

Brexit and trade war fears drove eurozone business growth to its lowest level in six years in September, a closely watched survey said Monday, warning that the single currency area’s economy was “close to stalling”.
23 September 2019, 18:00 PM

At shuttered Ohio plant, workers still hope for new GM vehicle

When asked about reports General Motors Co may turn its shuttered Lordstown, Ohio, plant into a battery factory, “Buffalo” Joe Nero snorts and points at the vast complex that until six months ago made the Chevrolet Cruze.
23 September 2019, 18:00 PM

China to assign state officials to 100 private firms including Alibaba

China’s top technology hub Hangzhou plans to assign government officials to work with 100 private companies including e-commerce giant Alibaba, according to state media reports, in a move likely to raise concerns over the growing role of the state.
23 September 2019, 18:00 PM

New York Stock Exchange parent company introduces bitcoin

The parent company of the New York Stock Exchange (NYSE) will from Sunday offer investors the option to trade Bitcoin, giving the pioneer cryptocurrency further mainstream recognition.
23 September 2019, 18:00 PM

Auto industry warns of ‘seismic’ no-deal Brexit shock

The European auto industry on Monday warned of catastrophic effects of a no-deal Brexit saying it would have a “seismic” impact on car-making.
23 September 2019, 18:00 PM

Bearish signal for crude as China closes in on filling oil storage

One of the fascinating tidbits to come to light in the wake of the attacks on Saudi Arabia’s crude facilities was China’s disclosure that it has enough oil inventories to last 80 days.
23 September 2019, 18:00 PM