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Saturday, April 20, 2019

World Business

Crisis at China’s JPMorgan wannabe deepens on bond defaults

CMIG, the brainchild of Dong Wenbiao, the former chairman of China’s largest non-state bank hailed the company as a Chinese version of JPMorgan, convincing 59 non-state companies to join forces as the company’s founding shareholders.

Nintendo shares gets a bump after Tencent win approval

Tencent could prove an invaluable ally for the Kyoto-based company in China.

Nissan to cut global output by about 15%

A spokesperson for Nissan declined to comment on 'speculative media reports'.

US economy hits soft patch, putting Fed on alert

"Incoming data have revealed signs that US economic growth is slowing somewhat from 2018's robust pace. Prospects for foreign economic growth have been marked down, and important international risks remain."

Uber lands massive investment for self-driving unit

The funding allows Uber to transfer some of the substantial cost of developing self-driving cars onto outside investors.

America’s gas export clout set to grow with LNG approvals

The US are on course to challenge Qatar as the second-largest exporter of LNG

Musk, SEC get another week to work out deal on Twitter...

Musk's lawyers have argued the tweet did not contain new information that was material to investors.

New North America trade pact to have ‘moderate’ positive effect

The report was released as President Donald Trump's administration instead unveiled rosy projections.

Amazon, Google agree to allow each other’s streaming apps

Amazon and Google had decided to compromise with each other.

Nestle and Unilever raise prices without stunting growth

Nestle and Unilever are attracting the consumer markets, despite selling goods at higher prices.

Pakistan finance minister quits amid IMF talks, Khan reshuffle

Asad Umar has been a subject of negative media campaigns from unnamed government sources.

UK retail sales surge despite Brexit uncertainty

The Office for National Statistics (ONS) says total retail sales increased by 1.1% compared to February when it only rose at 0.6%.

US trade agreement not settled says China

President Donald Trump said current trade talks with China is expected to be a success.

Jet shares nosedive after flights grounded, lenders ‘hopeful’

Jet's shares took a nosedive by more than 32%.

Oil prices slip, but ongoing supply cuts support

US crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels.

Suzuki in domestic recall of 2 mln vehicles

Last week, Suzuki admitted that an internal review had uncovered a host of problems at its factories.

Ford, Mahindra to co-develop mid-size SUV for emerging markets

The tie-up with Mahindra is critical for Ford as it has been trying to boost its market share.

Amazon to pull plug on China retail operations

The US e-commerce pioneer will maintain other operations in China such as Amazon Web Services (AWS) and Kindle e-books.

Terry Gou’s Taiwan presidential run fuels rally in Foxconn shares

Gou's announcement created a market boom for Foxconn.

AT&T is said to step up search for new Warner Bros...

Tsujihara left in March after having a sexual relationship with an actress seeking movie roles at the studio.