The storm winds of the recent trade war between the United States and China have settled in a truce for now, but the weeks of agitation — of rising tariffs and counter duties — battered one economy close to Beijing: Hong Kong’s. In December, Hong Kong government economist Andrew Au …
Wall Street capped a week of volatile trading Friday with an uneven finish and the market’s first weekly gain since November. Losses in technology, energy and industrial stocks outweighed gains in retailers and other consumer-focused companies. Stocks spent much of the day wavering between small gains and losses, ultimately …
Wells Fargo agreed to a $575 million nationwide settlement over its opening of millions of unauthorized customer accounts and other alleged predatory practices, the bank and U.S. authorities announced Friday. The agreement between the bank and attorneys general from the 50 states plus the District of Columbia covers a series …
In South Korea’s largest shipyard, thousands of workers in yellow hard hats move ceaselessly between towering cranes lifting hulks of steel. They look like a hive of bees scurrying over a massive circuit board as they weld together the latest additions to the rapidly growing fleet of tankers carrying super-chilled …
Wall Street stocks finished solidly higher Thursday following a late-afternoon surge as worries over slowing economic growth gave way to bargain-hunting. The Dow Jones Industrial Average finished at 23,138.82, an increase of 1.1 percent and up some 870 points from the low point of the session. The broad-based S&P 500 …
Tesla Inc has registered a financial leasing company in China, a local business registration filing shows, in the latest sign the U.S. electric car maker is attempting to speed up its push into China. The California-based carmaker, led by billionaire Chief Executive Elon Musk, has opened a wholly-owned financial leasing …
Retail sales in the U.S. for the 2018 holiday season were up more than 5 percent to more than $850 billion, according to data Mastercard released Wednesday, making 2018 the best holiday retail season in the last six years. The Mastercard SpendingPulse report tracks retail spending across all payment types, …
A U.S. trade delegation will go to China the week of Jan. 7, Bloomberg reported Wednesday, citing two people familiar with the matter. It will be the first time the two sides will meet face to face since U.S. President Donald Trump and China’s Xi Jinping agreed to de-escalate a trade …
Wall Street notched its best day in 10 years as stocks rallied back Wednesday, giving some post-Christmas hope to a market that has otherwise been battered this December. The Dow Jones Industrial Average jumped more than 1,000 points — its biggest point-gain ever — rising nearly 5 percent as investors …
Farmers in the Indian state of Chhattisgarh are getting back land that was taken from them more than a decade ago by the government because it was not used, a rare move in a country riven by conflict over land. Chief Minister Bhupesh Baghel of the Congress Party, which won …
Saul Ronaldo Atiliano was diving for lobster in the clear waters off Honduras’ Caribbean coast when he felt a pressure, a pain in his body. And he knew he’d gotten the sickness that has killed or disabled so many of his Miskito comrades. “The pressure attacked me deep in the …
North and South Korea held a groundbreaking ceremony Wednesday to mark the start of a joint project to connect railways throughout the divided peninsula. The event was held after both Korea’s inspected railways along the peninsula’s east coast. Ministry of Foreign Affairs Special Representative for Korean Peninsula Peace and Security …
President Donald Trump on Tuesday expressed confidence in Treasury Secretary Steven Mnuchin amid worries over a weakening economy and a stock market slump, but repeated his criticism of the U.S. Federal Reserve, saying it has raised interest rates too quickly. Speaking to reporters in the Oval Office after a Christmas …
Former Nissan Motor Co. executive Greg Kelly was released from jail in Japan Tuesday after a Tokyo court rejected prosecutors’ request to continue to detain him. The Tokyo District Court granted his release after setting bail at $636,000. Kelly had been detained for 37 days after being arrested and charged …
There is no holiday cheer for striking doctors in Zimbabwe this Christmas. The country’s health minister announced on Christmas eve that none of the strikers will receive their December salaries. Doctors say the strong-arming will not make them call off their almost month-long strike. Zimbabwe’s Health Minister Obediah Moyo announced …
U.S. stock markets fell sharply on Monday with the S&P 500 down more than two percent and the Dow off nearly three percent. President Donald Trump is blaming the Federal Reserve (central bank) for stock market declines and other economic problems. In tweets, Trump has said the only U.S. economic …
The leading pan-European stock exchange has launched a 625 million euro takeover bid to acquire the Oslo Stock Exchange. Euronext, the operator of stock exchanges in Paris, Amsterdam, Brussels, Dublin and Lisbon, said in a statement that it had approached the board of directors of the Oslo Stock Exchange (Oslo …
South Korea said Monday it will fine BMW $9.9 million and will file a criminal complaint against the German automaker for delaying a recall of cars with faulty engines that caught fire. South Korea’s transport ministry said its investigation uncovered that BMW knew about the faulty engines, but did not …
U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.” U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the …
A White House official says tension between a president and the interest-rate setting Federal Reserve is “traditional as part of our system.” Acting chief of staff Mick Mulvaney says it should come as no surprise that President Donald Trump is unhappy the central bank, an independent agency, “is raising rates and …
China and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a “deep exchange of views” on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said. A statement posted on the ministry’s website on Sunday said …
In 2018, sitting leaders relinquished power in South Africa and Ethiopia. Zimbabwe elected a new leader after 37 years of rule by former President Robert Mugabe. Peaceful power transitions were also seen in Liberia, Sierra Leone and Mali. But while many find those trends encouraging, the opposite is also true …
Now in its 10th year, America’s economic expansion still looks sturdy. Yet the partial shutdown of the government that began Saturday has added another threat to a growing list of risks. The stock market’s persistent fall, growing chaos in the Trump administration, higher interest rates, a U.S.-China trade war …
U.S. President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell, Bloomberg reported Saturday. Citing four people familiar with the discussions, Bloomberg reported Trump has become more frustrated with Powell after months of stock market losses and the central bank’s interest rate hike on Wednesday. Advisers reportedly have warned …
After almost 10 years, Wall Street’s rally looks like it’s ending. Another day of big losses Friday left the U.S. market with its worst week in more than seven years. All of the major indexes have lost 16 to 26 percent from their highs this summer and fall. Barring huge gains during …
The Canadian economy expanded by a greater-than-expected 0.3 percent in October from September, pushed higher by strength in manufacturing, finance and insurance, Statistics Canada data indicated Friday. Analysts in a Reuters poll had predicted monthly GDP would increase by 0.2 percent. Fifteen of the 20 industrial sectors — which Statscan …