US states ready antitrust probe of tech titans

Top prosecutors from a group of US states are readying a joint investigation into whether major technology firms have violated antitrust law, the Wall Street Journal reported Monday.
20 August 2019, 18:00 PM

Visa critical of India’s move towards no-fee debit card transactions

Global card payments group Visa is critical of the Indian government’s decision to boost adoption of electronic payments by requiring banks and card payment networks to offer no-fee debit card transactions, a senior Visa executive said.
20 August 2019, 18:00 PM

White House mulling tax cut to avoid recession

The White House is considering cutting taxes or reversing tariffs to head off a recession, US media reported on Monday, despite President Donald Trump’s insistence the economy was in rude health.
20 August 2019, 18:00 PM

SoftBank to lend employees $20b to invest in new fund

Japan’s SoftBank Group Corp is planning to lend up to $20 billion to its employees, including Chief Executive Masayoshi Son, to buy stakes in its second Vision Fund, the Wall Street Journal reported on Saturday, citing people familiar with the matter.
18 August 2019, 18:00 PM

Easy credit poses tough challenge for Russian economy

New machines popping up in Russian shopping centres seem innocuous enough -- users insert their passport and receive a small loan in a matter of minutes.
18 August 2019, 18:00 PM

UK finance minister aims to take advantage of cheap borrowing

New British finance minister Sajid Javid is looking at how best to take advantage of record-low borrowing costs when he sets out his first budget later this year, according to an interview published late on Friday.
18 August 2019, 18:00 PM

Germany has fiscal muscle to counter next crisis: Scholz

Germany has the fiscal strength to counter any future economic crisis “with full force”, Finance Minister Olaf Scholz said on Sunday, suggesting Berlin could make available up to 50 billion euros ($55 billion) of extra spending.
18 August 2019, 18:00 PM

Kuwait sovereign fund in portfolio shift on signs of global economic weakness

The Kuwait Investment Authority (KIA) began increasing its exposure to bonds and cash two years ago to boost liquidity in its portfolio as the global economy showed signs of weakness, Kuwaiti newspaper Alqabas reported on Sunday, citing sources.
18 August 2019, 18:00 PM

Ferrari will expand its lineup of road cars, but not too much

Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.
18 August 2019, 18:00 PM

Surprise rate cut in Mexico ‘no use’ for growth in short term

The Mexican central bank’s surprise interest rate cut on Thursday is likely to have a limited impact at best on lifting growth this year after the sluggish economy narrowly avoided recession in the first half of 2019, analysts say.
18 August 2019, 18:00 PM

China unveils rate reform to steer funding costs lower for firms

China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.
17 August 2019, 18:00 PM

US removes some Chinese furniture, modems from planned 10pc tariffs

The Trump administration is sparing some Chinese-made household furniture, baby items and internet modems and routers from its next rounds of 10 percent tariffs, it said on Friday.
17 August 2019, 18:00 PM

Alibaba and the $15b question: Amid Hong Kong’s protests, when to list?

Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.
17 August 2019, 18:00 PM

Thailand earmarks $10b for ‘urgent economic stimulus’

Thailand will pour more than $10 billion into the economy, the finance ministry said Friday, as a new government looks to kickstart sputtering growth after five years of junta rule.
17 August 2019, 18:00 PM

US set to give Huawei another 90 days to buy from American suppliers

The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, two sources familiar with the situation said.
17 August 2019, 18:00 PM

The rise of personalised entertainment

The face of entertainment is fast changing. There has been a continuous shift over the years in this medium.
17 August 2019, 18:00 PM

Global rate cuts mark broadest policy shift since crisis: Fitch

A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report on Friday.
17 August 2019, 18:00 PM

Dollar recovers as strong US data soothes market nerves

The dollar recovered from early weakness against the safe-haven yen as better-than-expected US retail sales data on Thursday eased fears that the US economy could be headed for a recession.
17 August 2019, 18:00 PM

Opec sees bearish oil outlook for rest of 2019, points to 2020 surplus

Opec delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an Opec-led pact to curb supply.
17 August 2019, 18:00 PM

US surfboard makers not so stoked about China tariffs

US President Donald Trump’s decision to slap 10 percent tariffs on imported surfboards convinced surf executive Sue Bowers to move factory jobs out of China - but not back to the United States, which was one goal of Trump’s tariffs.
17 August 2019, 18:00 PM