Monday, 25 March 2019

Business

Trade war’s bark turns to bite in Asia

SHANGHAI: The US-China tariff slugfest has for months triggered warnings that it could impact global economic growth, and recent data indicates the trade tension is indeed beginning to bite. Manufacturing gauges in several export-reliant Asian countries, as well as China, weakened in October as gloom deepens over the trade outlook. ...

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EU: the battle of the Italian budget against the eurozone

LONDON: Eurozone finance ministers, meeting in Brussels on Monday, are expected to support the European Commission two weeks after its decision to reject the budget of the populist coalition in power in Italy. “Everyone is worried,” says a senior European official, who observes wary of the standoff between the Commission, ...

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UK, Canadian parliaments team up against Mark Zuckerberg

LONDON: Facebook founder Mark Zuckerberg has been summoned to appear before MPs from the UK and Canadian parliaments as the fallout from Facebook’s data scandals continue. He has been repeatedly asked to appear in front of the Digital, Culture, Media and Sport Committee, and has repeatedly refused. Last time he sent ...

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Bank of England trims growth outlook, holds rates as Brexit looms

LONDON: The Bank of England trimmed its growth forecasts as Brexit approaches and froze interest rates – but warned it could alter monetary policy “in either direction” after Britain leaves the European Union. The central bank’s nine-strong Monetary Policy Committee (MPC) voted unanimously at a regular policy meeting to keep ...

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Apple delivers strong profits, but investors punish shares

LONDON: Apple delivered blockbuster earnings, but saw shares punished after a disappointing holiday season forecast and word that it will stop reporting how many iPhones it sells. The technology giant makes most of its money from iPhones, and sales numbers have been seen as a bellwether of the company’s fortunes. ...

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Oil prices fall as global supply rises

LONDON: Oil prices fell for a third day on Wednesday on evidence of rising global supply despite the imposition of U.S. sanctions next week that are already curbing Iranian crude supply. Benchmark Brent crude oil was down 40 cents at $75.51 a barrel by 1410 GMT. The contract fell 1.8 ...

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South Korea says 2018 exports likely to exceed $600bn to record

SEOUL: South Korea’s customs agency said on Monday exports this year are likely to exceed $600 billion and reach a record, up from last year’s $573.7 billion. Total exports exceeded $500 billion as of Monday, according to the Korea Customs Service. From January to September, exports stood at $450.3 billion, ...

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Sony nearly doubles first-half net profits, upgrades forecast

TOKYO: Sony’s net profit nearly doubled to hit a record high in the six months to September, it announced Tuesday, as it upgraded its annual forecasts, with games such as “Spider-Man” and “God of War” leading the way. The electronics and entertainment giant said April-September net profit reached 399.4 billion ...

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T-Mobile exceeds expectations for phone subscribers, profit

WASHINGTON: T-Mobile US Inc exceeded Wall Street’s quarterly estimates for net new phone subscribers and profit, driven by its competitive wireless plans and trade-in offers for iPhones aimed at fending off its bigger rivals. Shares of the Bellevue, Washington-based company rose over 3 percent to $66.02 in extended trading. The ...

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