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Updated: 18 hours 1 min ago

Global Markets: Stocks gain on preliminary U.S.-China trade deal, oil rises

Mon, 12/16/2019 - 22:08
Global stock markets rallied on Monday, lifting Wall Street's three major indexes and a global gauge of equity performance to record highs after a preliminary U.S.-China trade deal pointed to stronger global growth, helping to drive up oil prices.

Investors seek exhumation of Canadian crypto currency firm founder to ensure it's him

Mon, 12/16/2019 - 21:52
Lawyers representing users of the Canadian digital platform QuadrigaCX have asked police to exhume the body of its founder, whose sudden death last year trapped millions of dollars in digital currencies in its accounts, to make sure it's him.

Wall Street hits record high on China data, trade deal; Apple shines

Mon, 12/16/2019 - 21:46
Wall Street notched a fresh record high on Monday as investor confidence was boosted by upbeat data from China, while cooling trade tensions between the world's two biggest economies removed one of the hurdles for global economic growth.

ArcelorMittal forms JV with Nippon Steel to run Essar Steel

Mon, 12/16/2019 - 21:28
ArcelorMittal SA said on Monday it had formed a joint venture with Nippon Steel Corp to run Essar Steel, the bankrupt Indian steel company that ArcelorMittal has taken over.

Japan, South Korea find 'common ground' in trade dispute talks, agree to meet again

Mon, 12/16/2019 - 21:23
The first meeting between senior Japanese and South Korean trade officials since Japan imposed controls on exports of high-technology materials to its neighbour ended hours later than scheduled on Monday, with the two saying they had reached "common ground" and agreeing to talk again.

Indian small-finance bank Equitas files to go public

Mon, 12/16/2019 - 21:11
India's Equitas Small Finance Bank filed for an initial public offering (IPO) on Monday, days after the listing of a fellow small-finance lender drew strong interest from investors.

Costco in Caracas: how Florida goods flood Venezuelan stores

Mon, 12/16/2019 - 20:59
While U.S. President Donald Trump wants to drive Venezuela's socialist ruler out of power with economic sanctions, there has in fact been a burgeoning influx of American-bought goods from Nutella spread to Oreo cookies.

Dollar ticks lower awaiting details on U.S.-China trade

Mon, 12/16/2019 - 20:54
The foreign exchange market was on hold Monday morning, with the U.S. dollar slightly lower in anticipation of further details on the U.S.-China trade agreement.

Exxon, Chevron face new round of shareholder climate resolutions

Mon, 12/16/2019 - 20:52
An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.

UK business malaise deepened before election: PMI

Mon, 12/16/2019 - 18:22
British businesses endured their worst downturn since mid-2016 in the run-up to Prime Minister Boris Johnson's landslide victory in a national election last week, a survey showed on Monday.

Indonesia files WTO palm oil suit as tensions with EU rise

Mon, 12/16/2019 - 17:45
Indonesia has filed a lawsuit at the World Trade Organization against the European Union, claiming the bloc's restrictions on palm oil-based biofuel are unfair in the latest in a series of disputes between the two sides.

RBI governor reiterates there is more scope to cut rates

Mon, 12/16/2019 - 17:21
There is scope in India for cutting interest rates further and the central bank will use it when required after studying growth and inflation data, the Reserve Bank of India's (RBI) governor, Shaktikanta Das, said on Monday.

Electrolux to incur $70 million charge for U.S. overhaul

Mon, 12/16/2019 - 00:35
Swedish appliance maker Electrolux AB on Sunday said its North American business will incur costs of about $70 million (54.56 million pounds)in fourth quarter as part of costs incurred to move into a new facility in South Carolina.

U.S.-China trade deal 'totally done', will expand U.S. exports: Lighthizer

Sun, 12/15/2019 - 23:04
The "phase one" U.S.-China trade deal will nearly double U.S. exports to China over the next two years and is "totally done" despite the need for translation and revisions to its text, U.S. Trade Representative Robert Lighthizer said on Sunday.

German union calls for pre-Christmas Amazon strike

Sun, 12/15/2019 - 21:33
Trade union Verdi called for workers at a key Amazon logistics centre in Germany to go on strike over the crucial final shopping days before Christmas, demanding better pay and conditions for workers there.

Telenor says Huawei will still play role in 5G rollout

Sun, 12/15/2019 - 20:03
Telenor reiterated on Sunday Huawei would be involved in building Norway's 5G network along with Ericsson, one of several companies to continue working with the Chinese company despite U.S. pressure.

Aramco shares up 1.6% in third consecutive day of gains

Sun, 12/15/2019 - 18:37
Saudi Aramco shares gained for a third consecutive day on Sunday, rising 1.63% to 37.4 Saudi riyal ($9.97), pushing the company's value back towards the $2 trillion level it topped last week.

Villains or visionaries? Hedge funds short companies they say 'greenwash'

Sun, 12/15/2019 - 15:40
Tens of trillions of global investment dollars are pouring into companies touting robust environmental, social and governance credentials. Now short-sellers spy an opportunity.

Exclusive: China's BAIC raising Daimler stake to unseat Geely as top shareholder - sources

Sun, 12/15/2019 - 15:24
Daimler's main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources told Reuters.

Hong Kong posts biggest airport passenger number fall in a decade

Sun, 12/15/2019 - 13:33
Hong Kong International Airport reported its biggest fall in passenger numbers in more than a decade in November, official data released on Sunday showed.