UK faces recession warning as Brexit battle builds in parliament

Britain might be entering a full-blown recession that a no-deal exit from the European Union would compound, blowing a 30 billion-pound hole in the public finances, a budget watchdog said on Thursday.
18 July 2019, 18:25 PM

Indonesia aims to start electric vehicle production in 2022

Indonesia is aiming to start producing electric vehicles (EVs) in 2022, a senior official at the Industry Ministry told Reuters on Thursday, after a number of companies disclosed plans to invest in the country.
18 July 2019, 18:25 PM

Ghosn sues Nissan, Mitsubishi for breach of contract

Former auto titan Carlos Ghosn, currently under house arrest in Tokyo, is suing Nissan and Mitsubishi in a Dutch court for “improper termination” of his contract, French newspaper Le Figaro reported Wednesday.
18 July 2019, 18:00 PM

Boeing to make $50m in payments to 737 MAX crash victims’ families

Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with veteran U.S. compensation expert Ken Feinberg hired by the world’s largest plane maker to oversee the distribution.
18 July 2019, 18:00 PM

Bank of England expects balance sheet to halve

The Bank of England’s balance sheet is likely to roughly halve to around 275-375 billion pounds ($341-465 billion) when the time comes to reverse quantitative easing, a senior official said on Wednesday.
17 July 2019, 18:00 PM

US firms may get nod to restart Huawei sales in two-four weeks

The US may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior US official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly.
15 July 2019, 18:00 PM

US proposes barring big tech firms from offering financial services, digital currencies

A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the
15 July 2019, 18:00 PM

Tech tax set to dominate G7 finance ministers’ meeting

A row over taxing tech giants is set to dominate a meeting of G7 finance ministers near Paris this week, with the world’s leading industrialised nations already riven by disruptive US trade policies.
15 July 2019, 18:00 PM

Bitcoin drops more than 10pc as scrutiny of cryptocurrencies grows

Bitcoin slumped more than 10 percent over the weekend to a two-week low as fears of a crackdown of cryptocurrencies grew on mounting scrutiny of Facebook’s planned Libra digital coin.
15 July 2019, 18:00 PM

Amazon workers in Germany strike over pay

More than 2,000 workers at seven Amazon sites across Germany have gone on strike over pay for at least two days, labour union Verdi said on Monday.
15 July 2019, 18:00 PM

Asian bonds see higher overseas investments in June

Foreign investors stepped up their purchases in Asian bonds in June as a thaw in long-running Sino-US trade dispute and falling global interest rates bolstered the appetite for regional bonds.
15 July 2019, 18:00 PM

Groping for new tools, central banks look at Japan’s yield controls

Japanese-style interest rate caps are drawing interest from global central bankers worried about a downturn, including US Federal Reserve officials grappling with how to bolster their options as prospects for the global economy darken.
15 July 2019, 18:00 PM

India business sentiment lowest since 2016

India’s slowing economic growth, water shortage and regulatory hurdles have taken its business sentiment in June to the lowest level since 2016, a survey by market research firm IHS Markit showed on Monday.
15 July 2019, 18:00 PM

China posts slowest GDP growth in three decades

China’s growth slowed to its weakest pace in almost three decades in the second quarter, with the US-China trade war and weakening global demand weighing on the world’s number-two economy, official data showed Monday.
15 July 2019, 18:00 PM

Pakistan to pay foreign firm $6b over mine closure: WB

Pakistan will have to pay almost $6 billion in damages to a foreign gold mining firm whose dig was shut down by the government in 2011, the World Bank said Sunday.
15 July 2019, 18:00 PM

Explainer: Will India’s tax on the rich hit foreign investment inflows?

The government’s budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million rupees has rattled many foreign portfolio investors(FPIs).
15 July 2019, 18:00 PM

Qatar leads $150m funding for Indian education startup Byju’s

Indian online tutoring startup Byju’s said on Wednesday it had raised $150 million from investors led by the Qatar Investment Authority (QIA), which a source familiar with the matter said valued it at more than $5.5 billion.
10 July 2019, 18:00 PM

American Airlines sees $185m profit hit from Boeing MAX grounding

American Airlines Group Inc said on Wednesday its second-quarter profit would be reduced by about $185 million as the No.1 U.S. airline had to cancel thousands of flights due to the grounding of Boeing Co’s 737 MAX jets.
10 July 2019, 18:00 PM

Emissions rules and electric shift to spur car engines M&A

A growing understanding in the car industry of the value of combustion engine technology able to meet new anti-pollution requirements is likely to fuel a wave of consolidation in the next two years, industry executives and bankers say.
10 July 2019, 18:00 PM

China factory price inflation slips as trade war pressure grows

Factory prices in China were unchanged in June from a year ago, data showed Wednesday, reviving the prospect of deflation as the US trade war hits the crucial manufacturing sector.
10 July 2019, 18:00 PM