Walmart asks beauty suppliers to consider sourcing outside China

Walmart Inc has asked some beauty suppliers to consider sourcing products from outside China, as it looks for ways to mitigate the impact of a new set of tariffs on Chinese products proposed by the Trump administration.
19 August 2018, 18:00 PM

Iran says no Opec member can take over its share of oil exports

Iran told Opec on Sunday no member country should be allowed to take over another member's share of oil exports, expressing Tehran's concern about Saudi Arabia's offer to pump more oil in the face of US sanctions on Iranian oil sales.
19 August 2018, 18:00 PM

Falling rupee a double-edged sword for economy: analysts

India's rupee hit fresh record lows Thursday amid warnings that benefits to exporters from a weaker currency would be offset by the higher price paid by Asia's third-largest economy for oil.
19 August 2018, 18:00 PM

Walmart e-commerce and comparable sales jump

Walmart Inc on Thursday reported a 40 percent rise in US e-commerce sales during the second quarter, faster than the previous quarter's 33 percent advance.
16 August 2018, 18:00 PM

Trump's latest boost to the dollar: US-Turkey spat

US President Donald Trump has repeatedly called for a weaker US dollar in a bid to help US exporters, but his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the greenback.
16 August 2018, 18:00 PM

UK retail sales shine on heatwave, World Cup

British retail sales rebounded in July, official data showed Thursday, as the food sector won a major boost from sunny weather and the World Cup.
16 August 2018, 18:00 PM

US banks teach financial literacy with hands-on experience

Last year, Abbey Jones' high school routine had a twist. For 45 minutes each week, she became one of 15 student tellers at the Community Spirit Bank branch at Red Bay High School in Red Bay, Alabama.
16 August 2018, 18:00 PM

Hong Kong spends $2b to defend currency peg

Hong Kong's de facto central bank said Thursday it had bought up more than US$2 billion worth of local currency to maintain a long-held peg to the US dollar.
16 August 2018, 18:00 PM

Japan's trade surplus with US slumps in July

Japan's politically sensitive trade surplus with the United States shrank sharply in July, according to official data published Thursday, as
16 August 2018, 18:00 PM

Japan, South Korea steel exports to India surge on tariffs, high-end demand

India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after US President Donald Trump slapped an import duty on the alloy earlier this year.
16 August 2018, 18:00 PM

India's oil import bill soars on rupee fall

The sharply falling value of the Indian rupee vis-a-vis the US dollar will push up the country's crude oil import bill by about $16 billion in the 2018-19 financial year, officials said yesterday.
16 August 2018, 18:00 PM

If rupee slump persists, it can hurt Modi

The rupee's plunge to a record low has worried a wide cross-section of India's society: companies, importers, those going on vacation and students planning to study overseas.
16 August 2018, 18:00 PM

Blackstone may buy stake in India's Jet Airways loyalty arm

US private equity firm Blackstone Group LP is in talks to acquire a stake in the frequent-flier loyalty program of Jet Airways (India) Ltd, Bloomberg reported on Wednesday, citing people familiar with the matter.
15 August 2018, 18:00 PM

UK inflation accelerates to 2.5pc in July

Britain's inflation rate accelerated last month on higher transport costs, as workers' wages continued to lose purchase power, official data showed Wednesday.
15 August 2018, 18:00 PM

China vows to control debt despite fresh stimulus for cooling economy

China's state planner pledged on Wednesday to keep debt levels under control even as Beijing rolls out fresh stimulus to support the stumbling economy as a trade war with the US deepens.
15 August 2018, 18:00 PM

Saudi fund may only play minor part in Musk's $72b Tesla plan: bankers

Elon Musk told investors this week that “obviously, the Saudi sovereign fund has more than enough capital needed” to finance taking Tesla private.
15 August 2018, 18:00 PM

Turkey hits back at US with tariff hikes on key products

Turkey on Wednesday said it was hiking tariffs on imports of several key US products in retaliation for American sanctions against Ankara, as a bitter dispute between the two allies that sent the Turkish lira into freefall showed no sign of ending.
15 August 2018, 18:00 PM

Chinese oil importers shun US crude despite tariff reversal

Chinese oil importers are shying away from buying US crude as they fear Beijing's decision to exclude the commodity from its tariff list in a trade dispute between the world's biggest economies may only be temporary.
15 August 2018, 18:00 PM

US retail sales, manufacturing data bolster economic outlook

US retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
15 August 2018, 18:00 PM

Indonesia central bank hikes rates as Turkey crisis bites

Indonesia's central bank hiked interest rates Wednesday in a bid to shield the slumping rupiah from a selloff in emerging market currencies as Turkey's financial crisis roils global markets.
15 August 2018, 18:00 PM