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Updated: 12 hours 23 min ago

Huawei senior executive working with Google to counter U.S. ban

Tue, 05/21/2019 - 13:41
Chinese telecoms equipment maker Huawei is working closely with Google to resolve restrictions imposed by the United States last week, a senior Huawei executive said on Tuesday.

U.S. garlic growers profit from trade war as most farmers struggle

Tue, 05/21/2019 - 13:38
Unlike millions of other U.S. farmers, garlic growers are profiting from the trade war with China and have cheered President Donald Trump's latest economic attack accordingly.

British Steel risks collapse with 25,000 jobs threatened

Tue, 05/21/2019 - 13:36
British Steel, the country's second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan by later on Tuesday, two sources close to the situation said.

Some major Deutsche Bank investors want chairman to go early - sources

Tue, 05/21/2019 - 13:35
At least three major investors in Deutsche Bank want Chairman Paul Achleitner to step down early amid discontent with the bank's turnaround, two people with knowledge of the matter said on Tuesday.

Nifty, Sensex retreat from record highs, financials drag

Tue, 05/21/2019 - 13:33
Indian shares pulled back from record highs to close 1% lower on Tuesday, as investors booked profits following a three-session rally.

U.S. eases restrictions on Huawei; founder says U.S. underestimates Chinese firm

Tue, 05/21/2019 - 13:20
The United States has temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers, a move the founder of the world's largest telecoms equipment maker said meant little because it was already prepared for U.S. action.

Pakistan rupee continues to slide, reaches another record low

Tue, 05/21/2019 - 13:05
Pakistan's rupee reached a new record low on Monday, selling at 153 against the dollar in the interbank market to continue a slide that saw it lose more than 5% last week in the wake of a $6 billion loan accord with the International Monetary Fund.

Exclusive: India watchdog probes allegations of anti-competitive conduct by Maruti - sources

Tue, 05/21/2019 - 13:04
India's antitrust regulator is looking into allegations that Maruti Suzuki, the country's biggest car maker, resorted to anti-competitive practices by controlling how its dealers discounted cars, three people aware of the matter said.

Exclusive: PNB likely to take control of 2-3 small state-run banks - sources

Tue, 05/21/2019 - 13:03
The Punjab National Bank could take control of two-to-three small state-run banks, that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, according to two sources familiar with the situation.

Thailand first-quarter GDP growth slows to weakest in over four years, outlook murky

Tue, 05/21/2019 - 12:56
Thailand's economy grew at its slowest pace in more than four years in the first quarter, and by less than expected, hurt by a drop in exports and public investment.

Oil traders sell dirty Russian crude to Asian buyers

Tue, 05/21/2019 - 12:53
Trading companies Vitol and Unipec are sending around 700,000 tonnes (5.1 million barrels) of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data.

Hinduja Group evaluating bid for Jet Airways, shares rise

Tue, 05/21/2019 - 12:41
Indian conglomerate Hinduja Group said on Tuesday it is evaluating a possible bid for debt-laden Jet Airways Ltd, sending shares of the grounded carrier as high as 14% in afternoon trading.

Exclusive: A delicate balance - Toyota took care to make offering to U.S. before China deals

Tue, 05/21/2019 - 12:31
Toyota Motor Corp last month announced two deals in China that were small in size but large in strategic planning.

Singapore's headline inflation rate seen edging higher in April: Reuters poll

Tue, 05/21/2019 - 12:17
Singapore's headline inflation rate likely edged slightly higher in April due to higher oil and transport costs, a Reuters poll showed on Tuesday.

Airbus pledges boxers' counter-punch to new Boeing mid-jet

Tue, 05/21/2019 - 12:15
Airbus held out the prospect of a clash over prices to counter any decision by Boeing to launch a new aircraft in the middle of the jet market, by promising a "left hook, right hook" counter-punch with two of its existing models.

Global stocks gain as U.S. eases Huawei restrictions

Tue, 05/21/2019 - 11:59
Stocks markets gained on Tuesday, with chipmakers and stocks exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China's Huawei.

Singapore and Malaysia suspend intercity rail project

Tue, 05/21/2019 - 11:23
Singapore and Malaysia have agreed to suspend the construction of a billion-dollar train project linking the wealthy city-state with its neighbour's southern state of Johor, their transport ministers said on Tuesday.

In inland Chinese province, property bubble haunts dreams of prosperity

Tue, 05/21/2019 - 11:13
Song Jingyi, a paralegal from a family of modest means in the central Chinese region of Henan, had long dreamed of buying a home of her own in Zhengzhou, the sprawling provincial capital of 10 million where she attended college.

Australia PM struggles to meet tax relief election pledge, central bank urges stimulus

Tue, 05/21/2019 - 11:05
Australia's re-elected coalition said on Tuesday it would struggle to deliver tax breaks for tens of millions of voters by July 1, a cornerstone of its election campaign, as the central bank called for stimulus to aid a slowing economy.

Japan auto lobby dismayed Trump declares some imports security threat

Tue, 05/21/2019 - 11:05
Japan's automakers' lobby said on Tuesday it was dismayed by President Donald Trump's declaration that some imported vehicles and parts posed a threat to U.S. national security, as the industry braces for a possible rise in U.S. tariffs.