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- The Canadian Press•18 minutes ago
Lawyers protest detention of Kelly, Ghosn's co-accused
Lawyers for Greg Kelly, the American executive arrested last month with Nissan's former chairman Carlos Ghosn on suspicion of underreporting Ghosn's pay, protested his prolonged stay in Japanese detention Wednesday. The Tokyo District Court confirmed it received the protest. Lawyers often file
- Bloomberg•22 minutes ago
Stocks Rise on Renewed Trade Hopes; Pound Climbs: Markets Wrap
U.S. equity futures and European shares climbed following big gains in Asia after Canada granted bail to the chief financial officer of China’s Huawei Technologies Co. and President Donald Trump said he’d consider intervening in the case if it helped get a China deal. As well as the roller coaster news
- Bloomberg•28 minutes ago
`Premature' Turkey Rate Cut Haunts Market After Belated Hike
Long known for his unorthodox view that rate hikes only lead to faster price gains, Erdogan has mostly kept mum since warning after an emergency increase in September that “there is a limit” to his patience. For its part, the central bank has vowed to maintain a tight stance for a long time, with inflation
Reuters•35 minutes agoAmazon aims at office workers with compact cashier-less food store
Located in one of the company's Seattle offices, the eighth Amazon Go store is near the original and a quarter the size, at a mere 450 square feet. Like Amazon Go stores operating in Chicago, San Francisco and Seattle, the new store has no checkout lanes. Customers scan their smartphones to enter
Reuters•38 minutes agoZara owner Inditex profit falls short of estimates
Inditex, which also owns upmarket label Massimo Dutti and teen brand Bershka, reported earnings before interest and tax (EBIT) of 3.07 billion euros ($3.5 billion), up 3 percent on the year-ago period. The growth would have been 14 percent at constant exchange rates, the company said. Inditex, with
- Bloomberg•40 minutes ago
Credit Suisse to Buy Back Stock as CEO Grapples With Markets
Switzerland’s second-largest bank plans to buy back as much as 3 billion francs ($3 billion) of shares in the next two years, while increasing the dividend by at least 5 percent a year, it said in a statement ahead of its investor day. Thiam has pivoted the bank from more volatile trading in favor of
Reuters•45 minutes agoCanada frees CFO of China's Huawei on bail; Trump might intervene
Meng Wanzhou, Huawei's [HWT.UL] chief financial officer and the daughter of its founder, faces U.S. claims that she misled multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions. In a court hearing in Vancouver, British Columbia, Justice William
- The Canadian Press•50 minutes ago
Ex-diplomat who worked on Trudeau's Hong Kong visit detained in China
Prime Minister Justin Trudeau says his government has contacted Chinese authorities about the detention of a sometime Canadian diplomat in China at a time of intensifying tensions between the two countries. Trudeau spoke briefly to reporters Tuesday about the unexplained case of Michael Kovrig, an international-affairs
- The Canadian Press•53 minutes ago
Hopes for US-China trade talks help push Asian shares higher
TOKYO — Asian shares rose Wednesday amid hopes for progress in U.S.-China trade talks.
- Bloomberg•57 minutes ago
Asia Stock Traders Hit `Buy' as U.S.-China Trade Magic Is Back
(Bloomberg) -- The power of news headlines is back, and a renewed dose of trade optimism is finally lifting Asian stocks from a six-week low.
- The Canadian Press•58 minutes ago
China says no information on detained ex-Canadian diplomat
China's Foreign Ministry said Wednesday that it had no information about a former Canadian diplomat detained in Beijing in apparent retaliation for Canada's arrest of a leading Chinese executive. While declining to confirm the detention of Michael Kovrig, ministry spokesman Lu Kang said the
- Bloomberg•59 minutes ago
India's Central Bank Chief Faces Long To-Do List in New Job
Shaktikanta Das, 61, a former economic affairs secretary at the Finance Ministry, took charge at the Reserve Bank of India for a three-year term on Wednesday, two days after Urjit Patel quit amid worries that the government was encroaching on the central bank’s turf. Das, a career bureaucrat, is seen
Reuters•1 hour agoRolls-Royce expects 2018 profit, free cash flow in upper half of forecast range
Rolls-Royce expects its 2018 group profit and free cash flow to be in the upper half of its guidance range, the British engineering company said on Wednesday, shrugging off problems with some of its aircraft engines. Rolls, whose main business makes engines for large airliners, had forecast group operating
- The Canadian Press•1 hour ago
"Little League for esports" hopes to organize youth gaming
Christian Pineda plays a lot of video games, but he's best at "Minecraft." Hunched over a laptop in the front row of a half-full movie theatre last month, the 13-year-old eagerly showed off why. Christian claims to be shy at school, but here, he's a vocal leader on a New York team
- Bloomberg•1 hour ago
Oil Tanker Owners Find Solace in Shale as OPEC Readies Cuts
“OPEC+ is reducing their output as U.S. is increasing theirs, hence the overall limited effect for tanker volumes,” said Frode Morkedal, managing director of equity research at Clarksons Platou, an investment banking unit of the world’s biggest shipbroker. The idea of the tanker industry withstanding
- Bloomberg•1 hour ago
The 2018 Dollar-Bond Bust in Asia Got Missed by Analysts
Sharper-than-expected hits from Federal Reserve tightening and China’s deleveraging campaign, along with the blow to sentiment from trade tensions, sent spreads surging 109 basis points to the highest in about three years. “Rising U.S. rates, weakness in the RMB versus the dollar, EM concerns spilling
- Bloomberg•2 hours ago
In His Own Tweets: What India's New Central Bank Governor Thinks
(Bloomberg) -- India’s new central bank governor Shaktikanta Das is an active user of Twitter, a sharp contrast to his predecessor, Urjit Patel, who was publicity shy and rarely gave interviews.
- Bloomberg•2 hours ago
Trade War Damage to China's Economy Is Already Done, Citi Says
(Bloomberg) -- The damage to China’s economy from the trade war with the U.S. can’t be immediately made good even in the case of a resolution with President Donald Trump, Citigroup economists say.
- The Canadian Press•2 hours ago
Google grilled in Congress: What's ahead for tech companies
U.S. lawmakers' grilling of Google CEO Sundar Pichai may have sounded like a broken record, but it amplified the prickly issues facing tech companies as Democrats prepare to take control of the House next month. Here are some of the hurdles that Google parent Alphabet Inc., Facebook, Amazon and
- Bloomberg•2 hours ago
HSBC Ex-Markets Chief Said to Have Left After Misconduct Claim
The London-based HSBC veteran allegedly behaved improperly with the employee, who flagged it to the lender’s human resources department in early summer, one of the people said. HSBC has reported the incident to the U.K. financial services regulator, the person said, declining to be identified because
- Bloomberg•2 hours ago
Emmanuel Macron's Euro Zone Dream Died This Week
Upon his election, the French president pledged to respect the monetary union’s budget rules to regain credibility with Germany. On Monday night, in his response to the gilets jaunes protests, Macron changed his priorities. France’s budget deficit was expected to rise to 2.8 percent of gross domestic
- Bloomberg•2 hours ago
Emmanuel Macron's Euro Zone Dream Died This Week
Upon his election, the French president pledged to respect the monetary union’s budget rules to regain credibility with Germany. On Monday night, in his response to the gilets jaunes protests, Macron changed his priorities. France’s budget deficit was expected to rise to 2.8 percent of gross domestic
- Bloomberg•2 hours ago
UBS Prepares Cloud Move to Secret Microsoft Data Centers
Switzerland’s largest bank may begin to store data at Microsoft’s purpose-built facilities near Zurich and Geneva as soon as next year, the people said, asking not to be identified because the matter is private. It would be a big win for Microsoft over rivals Google and Amazon.com Inc. after the company
- Bloomberg•2 hours ago
Goldman Says Commodities Won't Repeat 2015 Crash as China Slows
Following a three-year rally in prices, China’s basic materials sector “will be tested again in the year ahead,” analysts including Trina Chen wrote in an emailed note. For steel, Goldman is forecasting a near-5 percent slump in demand. The reference to 2015 speaks to fears that a slowdown in Chinese
- The Canadian Press•2 hours ago
Huawei CFO gets bail; China detains ex-Canadian diplomat
A Canadian court granted bail Tuesday to a top Chinese executive arrested at the United States' request in a case that has set off a diplomatic furor among the three countries and complicated high-stakes U.S.-China trade talks. Hours before the bail hearing in Vancouver, China detained a former
