Advert

International

  • Oil catches breath near 6½-year lows after falls

    Oil catches breath near 6½-year lows after falls

    Oil stabilised yesterday after China’s central bank moved to support the country’s economy, but prices stayed near six-and-a-half-year lows as a heavy supply glut kept the market outlook bearish. “Oil is catching its breath a bit and seeing if...

  • Japan downgrades consumer spending assessment

    Japan downgrades consumer spending assessment

    Japan’s government lowered its assessment of consumer spending and exports in August, a worrying sign that the economy is seeing just a tepid recovery from a contraction in the April-June quarter. The government stood by its assessment that...

  • French cuts to focus on income tax, finance minister indicates

    French cuts to focus on income tax, finance minister indicates

    French Finance Minister Michel Sapin indicated yesterday that cuts promised on the revenue side of next year’s budget would focus on income tax rather than other levies. President François Hollande said French households would enjoy tax cuts in...

  • Markets diverge, commodities fall, China fears persist

    Wall Street advanced yesterday while European shares and commodities fell as investors balanced strong US economic data and policy comments with fears about China’s slowing economy. The benchmark S&P 500 was up 0.7 per cent in afternoon trading,...

  • China’s central bank pressured to devalue its currency further

    China’s central bank pressured to devalue its currency further

    China’s move to devalue its currency reflects a growing clamour within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure to drag it down further in the months ahead, sources...

  • Oil prices fall further as yuan slides

    Oil prices fall further as yuan slides

    Oil prices continued to fall yesterday as China allowed its currency to drop further and its industrial output fell short of expectations just as oil production hit multi-year highs. China’s yuan hit a four-year low yesterday, slipping further a...

  • Greek bank bailout funds depend on business plan, stress test – sources

    Initial bailout funds for Greek banks will be placed in a special account not on their balance sheets and lenders will receive fresh equity only after a “stress test” is finished by the end of October, several sources told Reuters yesterday. An...

  • Stocks, yields tumble after China’s yuan falls again

    Stocks, the US dollar, and emerging market currencies around the world remained under pressure for a second day yesterday after China’s yuan weakened again, one day after the country devalued its currency. Germany’s two-year yield fell to a new...

  • Agnelli family becomes largest Economist investor as Pearson sells out

    Agnelli family becomes largest Economist investor as Pearson sells out

    Britain’s Pearson yesterday agreed to sell its 50 per cent stake in the Economist Group for £469 million, in a deal which makes Italy’s Agnelli family the largest investor in the weekly publication. Fresh from the sale of the Financial Times...

  • Barclays set to speed up cost cuts after new mis-selling hit

    Barclays set to speed up cost cuts after new mis-selling hit

    Barclays’ new executive chairman sought to stamp his mark on the bank yesterday by accelerating the sale of assets and cost cutting, after the group reported a 12 per cent rise in profit and another big charge to compensate customers. Chairman...

  • EU probes Disneyland Paris over prices for foreign tourists

    EU regulators are investigating prices charged by Disneyland Paris after complaints from foreign consumers who said they were charged far more than their French counterparts. The move by the European Commission is part of a broader crackdown on...

  • GM to invest $1bn in India

    General Motors Co. will invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said yesterday. The investment is part of GM’s plan...

  • Mortgage lending in Britain jumps in June

    British mortgage lending picked up strongly in June, adding to signs that the housing market is regaining momentum, but a sharp drop in lending to businesses was a reminder that the economic recovery has yet to find a sounder footing. The value of...

  • Stocks climb ahead of Fed statement

    Global equity markets rose yesterday, lifted by strong US and European corporate earnings, although moves were subdued before a policy statement from the US Federal Reserve, which is expected to raise interest rates, perhaps as early as...

  • VW lowers its sales goal as demand in China slows

    VW lowers its sales goal as demand in China slows

    Volkswagen lowered its sales forecast as demand weakens in China, where the group’s largest division delivers more than 40 per cent of its vehicles, outweighing gains in Europe. The German group yesterday scaled back its expectations, predicting...

  • China growth beats forecasts, further stimulus still expected

    China growth beats forecasts, further stimulus still expected

    China’s economy grew an annual seven per cent in the second quarter, steady with the previous quarter and slightly better than analysts’ forecasts, though further stimulus is still expected after the quarter ended with a stock market...

  • China IPO freeze opens door to alternative financiers

    China’s move to halt new company listings on its stock markets is offering private equity firms, hedge funds and sovereign wealth funds an opening to fill private companies’ funding needs, paving the way for more merger and acquisition...

  • Fiat Chrysler boss says no plans for another GM offer – New York Times

    Fiat Chrysler boss says no plans for another GM offer – New York Times

    The chief executive of Fiat Chrysler Automobiles (FCA), Sergio Marchionne, does not plan to make another offer to merge with General Motors after being rejected by its US rival four months ago, the New York Times quoted him as saying. Marchionne...

  • US stocks steady, euro slips before Greek vote

    US stock prices held steady yesterday as Federal Reserve chair Janet Yellen affirmed a likely interest rate increase by year-end, while the euro fell ahead of a Greek government vote on whether to accept tough terms for a vital third bailout. Oil...

  • Proposals to expand Heathrow politically divisive, to fuel tensions

    Proposals to expand Heathrow politically divisive, to fuel tensions

    Britain should build a third runway at London’s Heathrow Airport, a government-appointed commission into the country’s airport capacity said in a report set to create a political headache for Prime Minister David Cameron. Lawmakers broadly agree...

Advert
Advert