China`s July exports, imports weaker than expected cloud global outlook

BEIJING  - China's exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.

China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus poli

Global stocks reach new peak in world full of surprises

By John Geddie

LONDON - World stocks breached record highs on Monday as better-than-expected company earnings and economic data from the United States stole the focus from rising geopolitical tension over North Korea's nuclear programme.

The U.S. dollar dipped slightly but held on to most of Friday's gains - its biggest daily rise this year - made af

China bank watchdog to tighten risk control amid regulatory shake-up

SHANGHAI  - China's banking regulator will tighten control over risks in the financial markets, work more closely with the central bank and other regulators, and "resolutely follow" the leadership of a newly-formed financial stability committee, it said late on Monday.

The China Banking Regulatory Commission's comments come after President Xi Ji

JPMorgan reports 13 pct rise in quarterly profit

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 13.4 percent increase in quarterly profit on Friday as gains from higher interest rates more than offset a drop in bond trading.

The bank's net income rose to $7.03 billion in the second quarter ended June 30 from $6.20 billion a year earlier. Earnings per share rose to $1.82 from $1.55. 

Analysts

Dollar treads water, U.S. inflation data awaited for Fed direction

By Shinichi Saoshiro

TOKYO - The dollar trod water against a group of peers early on Friday, as currency investors remained cautious ahead of U.S. inflation data due later in the session, which is expected to set the greenback's near-term direction.

The U.S. currency's recent advance, notably against the yen, has stalled towards the end of this week

OPEC, non-OPEC July meet to take no decisions: Algeria energy minister

ISTANBUL - A joint meeting of OPEC and non-OPEC nations in Russia later this month will only discuss the oil market but will take no decisions, Algerian Energy Minister Mustapha Guitouni said on Wednesday.

"The (global oil output cut) decision had already been taken until March 2018," he said during an international energy forum. "Algeria's current

12/07/2017 3:22:36 PM | Posted in World Market More News read full news
U.S. households see spending up, job prospects improving: NY Fed survey

WASHINGTON - Consumers expect to boost spending in the months ahead and voiced confidence they are more likely to find a job and less likely to lose one in a strong labor market, the New York Federal Reserve reported Monday in its latest monthly survey of consumer expectations.

Nearly 35 percent of the 1,300 heads of household included in the June poll said they were

Central bankers want communication, not coordination

FRANKFURT - There is no behind-the-scenes pact between powerful central bankers to tighten policy but the potent effect their actions have on financial markets means they want a deeper understanding of each others' motivations, officials told Reuters.

European Central Bank President Mario Draghi renewed his long-standing wish last week for more talks between globa

As anti-G20 protests begin, Merkel says growth must be inclusive

BERLIN - With an eye on anti-globalisation protests brewing in Hamburg before this week's G20 summit, Chancellor Angela Merkel said on Sunday leaders will have to focus on sustainable and inclusive economic growth rather than their own prosperity.

In her weekly podcast, the German chancellor said this year's G20 summit will delve into issues championed by prot

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Printing money would trigger painful South Africa recession - central bank governor

JOHANNESBURG  - South Africa risks slipping into a long and painful economic recession if the central bank is forced to abandon its policy of reducing inflation and protecting the currency, Reserve Bank governor Lesetja Kganyago said on Sunday.

In an editorial article published in the Sunday Times newspaper, Kganyago said the recent recommendation by an anti-graf

2/07/2017 4:40:08 PM | Posted in World Market More News read full news
Japan's Konica Minolta plans to buy U.S. cancer test firm - Nikkei

TOKYO  - Japanese office equipment maker Konica Minolta Inc plans to acquire U.S. healthcare firm Ambry Genetics Corp to diversify its business, the Nikkei daily reported on Sunday.

The acquisition will likely cost around 100 billion yen ($890 million) and be Konica Minolta's most expensive, reflecting its ambition to branch out into healthcare as its printer

2/07/2017 2:57:42 PM | Posted in World Market More News read full news
China, Hong Kong confirm Bond Connect Northbound trading begins Monday

HONG KONG - The central banks of China and Hong Kong on Sunday said non-mainland investors can start trading Chinese corporate bonds in a trial beginning on Monday, confirming a calendar entry that appeared on the "Bond Connect" programme website late on Friday.

Trading will initially be "Northbound", so mainland investors will be not yet be a

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Big pharma turns to artificial intelligence to speed drug discovery, GSK signs deal

LONDON  - The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday.

Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial in

2/07/2017 2:52:31 PM | Posted in World Market More News read full news
ECB working on move away from ultra-easy policy - Jens Weidmann

FRANKFURT  - The European Central Bank is working on moving away from its ultra-easy monetary policy, Jens Weidmann, head of Germany's Bundesbank and a member of the ECB's rate-setting body, said on Saturday.

Investors are watching for any sign that the ECB may reduce its stimulus, which includes massive bond purchases and ultra-low rates, after a hint in

BMW to make Mini electric car plant decision by end-September

CHICHESTER, England  - BMW will decide whether to build its new electric Mini car in Britain or elsewhere by the end of September, its board member for sales told Reuters, in a test of the country's ability to continue to attract investment as it leaves the EU.

Mini makes around 70 percent of its approximately 360,000 compact cars at its Oxford plant in south

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Hyundai to recall over 43,700 cars in China

Hyundai Motor Company will recall 43,764 of its vehicles in China over a fault which may lead to potential engine failures, quality control watchdog announced on Sunday.

According to the General Administration of Quality Supervision, Inspection and Quarantine, the affected vehicles are the Santa Fe models with 2.4-litre Theta GDI engines manufactured between November 29, 2012, and May

Time may be nearing for ECB stimulus exit: Weidmann - paper

The time may be nearing for the European Central Bank to start discussing the end of unprecedented stimulus as growth and inflation are both moving in the right direction, Bundesbank president Jens Weidmann told German newspaper Welt am Sonntag.

Weidmann, who sits on the ECB's rate-setting Governing Council, also said that the bank should not make any further changes to the key pa

UK to maintain duty-free access for developing countries after Brexit

Britain said it will maintain duty-free access to its markets once it has left the European Union for goods from nearly 50 developing countries including Bangladesh, Sierra Leone and Haiti.

The government said around 48 countries would continue to benefit from tariff-free exports on all goods other than arms and ammunition to the UK and that once it had left the EU in 2019 it would ex

U.S. lawmakers urge Trump to press Modi on trade, investment

Leading U.S. congressmen have called on President Donald Trump to press Indian Prime Minister Narendra Modi to remove barriers to U.S. trade and investment when they meet for the first time on Monday.

The lawmakers, from the Republican and Democratic parties, said in a letter to Trump that high-level engagement with India had failed to eliminate major trade and investment barriers and

China doles out $100 million punishment to Russian-controlled fund for role in 2015 crash

A Chinese court meted out a nearly 700 million yuan ($102.4 million) punishment to a Russian-controlled high-frequency trading firm for futures market manipulation on Friday, drawing a line under one of the most high-profile cases of misconduct Beijing blames for contributing to the 2015 stock market crash.

The verdict by the Shanghai No. 1 Intermediate People's Court, posted on i

Modi launches India-Portugal International StartUp Hub

Prime Minister Narendra Modi and his Portugese counterpart Antonio Costa on Saturday launched the India-Portugal International StartUp Hub (IPISH) here to help in mutual capacity building, and enable connections between start-ups, investors, and incubators from relevant sectors.

According to an External Affairs Ministry statement, this is a platform initiated by Startup India and supp

Toshiba to seek extension on financial filing Friday - Yomiuri

TOKYO  - Toshiba Corp  plans to ask regulators for an extension for filing its annual financial statement on Friday, the Yomiuri daily reported.

The industrial conglomerate had been aiming to file the financial report by end-June but has not been able to obtain approval from its auditor, the report said.

Toshiba was not immediately available for co

Boeing's Conner bows out with $1.2 billion air show deal

PARIS - Boeing Vice Chairman Ray Conner on Wednesday sealed his last air show deal before retiring, signing off with the conversion of ten orders to the new 737 MAX 10 model for Donghai Airlines in China, where near-record traffic growth is powering aviation.

Conner signed the deal to add the Shenzhen-based airline to a list of launch customers for the new jet at the

Asian stocks rise as oil tries to claw up from 10-month low

By Nichola Saminather

SINGAPORE-  Asian stocks advanced on Thursday, but oil futures hovered near a 10-month low hit overnight on concerns over a supply glut and falling demand.

European stocks were mixed with financial spreadbetter CMC Markets expecting Britain's FTSE 100 to open up 0.1 percent, Germany's DAX to be little changed and France'

Consumer, tech lift euro zone shares; FTSE lags

LONDON - Euro zone shares rose on Tuesday, bolstered by another day of gains for tech and retail sectors, while gains on Britain's top indices were weighed down by a few dour corporate updates.

Euro zone blue chips rose 0.4 percent while the broader regional index was up 0.3 percent.

The swift rebound in tech stocks over the past week lifted Wall Street

20/06/2017 2:27:09 PM | Posted in World Market More News read full news