Stock markets downbeat after Trump Brexit, China comments

LONDON (AFP) -- Stock markets largely headed south once more Tuesday with traders on edge after US President Donald Trump warned he would ramp up his trade war with China should he fail to reach a deal with Chinese leader Xi Jinping at upcoming talks. Xi Jinping and Donald Trump (AP)The pound meanwhile suffered after Trump warned Prime Minister Theresa May's EU divorce agreement could hamper the chances of a trade deal between  Washington and London.Oil prices steadied after recent extreme volat

Nov. 27, 2018

Trump says he expects to raise China tariffs: Wall Street Journal

WASHINGTON (Reuters) - US President Donald Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent and repeated his threat to slap tariffs on all remaining imports from China.In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was “highly unlikely” he would accept China’s request to hold off on the increase, whi

Nov. 27, 2018

[Newsmaker] GM to lay off up to 14K workers, close as many as 5 plants

DETROIT (AP) — General Motors will cut up to 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles, the automaker announced Monday.The reductions could amount to as much as 8 percent of GM’s global workforce of 180,000 employees.The restructuring reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In Oct

Nov. 27, 2018

Nissan board to vote on Ghosn's dismissal

The fate of Nissan's disgraced Carlos Ghosn as chairman of the Japanese car giant is set to be decided Thursday when board members meet to vote on his dismissal, days after the tycoon's arrest for financial misconduct.The fallen superstar executive credited with turning around the Nissan-Renault-Mitsubishi Motors alliance is in detention over allegations he under-reported his pay by millions of dollars.His arrest on Monday has sent shockwaves through the global car sector, corporate Japan and be

Nov. 22, 2018

Renault board: Ghosn to remain CEO while detained in Japan

PARIS (AP) — Carlos Ghosn will remain chairman and CEO of Renault despite being detained in Japan on allegations he misused assets of partner Nissan Motor Co. and under-reported millions of dollars in income.The French carmaker’s board of directors announced its decision after an emergency meeting in Paris on Tuesday.The board, however, said it was appointing the automaker’s No. 2 executive, Chief Operating Officer Thierry Bollore, to temporarily fill in for Ghosn. (AP)“Mr. Ghosn, temporarily in

Nov. 21, 2018

[Graphic News] India to see highest GDP growth rate in Asia

　The Asian Development Bank projected that India would see the highest gross domestic product growth rate in Asia in 2018 at 7.3 percent, though this is lower than the nation's growth rate of 6.7 percent in 2017. 　Vietnam and Bhutan are forecast to see the second-highest GDP growth rate in Asia at 7.1 percent. The former's growing workforce has been instrumental to its growth, boosted by export expansion, rising domestic consumption, strong investments, and a strengthening agriculture sector. Bh

Nov. 20, 2018

Flagging Victoria’s Secret announces new lingerie CEO

NEW YORK (AFP) -- US lingerie giant Victoria’s Secret announced Monday that it had appointed fashion executive John Mehas as new lingerie CEO, hoping to boost its ailing fortunes.Mehas will take over in the New Year, replacing Jan Singer, who resigned with the brand under fire for slumping sales, idealized glamazonian femininity and reluctance to put larger and transgender models on the catwalk.His appointment was announced as Victoria’s Secret parent company L Brands reported third-quarter resu

Nov. 20, 2018

New tech regulation 'inevitable,' Apple CEO says

WASHINGTON (AFP) -- Apple CEO Tim Cook predicts that new regulations of tech companies and social networks to protect personal data are "inevitable."In an interview with news website Axios being broadcast Sunday on HBO television, Cook said he expected the US Congress would take up the matter."Generally speaking, I am not a big fan of regulation," Cook said in an excerpt released by Axios. "I'm a big believer in the free market. But we have to admit when the free market is not working. And it ha

Nov. 20, 2018

[Newsmaker] Auto titan Ghosn under arrest, faces ouster at Nissan

Nissan chairman Carlos Ghosn faces being fired this week after being arrested in Japan over allegations of financial misconduct, the firm said Monday, in a stunning fall from grace for one of the world's best-known businessmen.Ghosn's arrest and his likely dismissal from Nissan, as well as possibly from Mitsubishi and Renault, sent shockwaves through the auto industry, where he is a towering figure, credited with turning around several major manufacturers.Besides being chairman of Nissan, the 64

Nov. 20, 2018

At what cost? Debate swirls on 'giveaways' after Amazon HQ deal

As the winners of the biggest corporate prize in decades -- the new Amazon headquarters -- relished their victory, debate was still raging over the billions of dollars in incentives offered to attract the fast-growing US technology colossus.The new Amazon "HQ2" with an estimated $5 billion investment creating 50,000 new jobs will be split between the Long Island City district in New York and Crystal City, a Virginia community across the Potomac River from the US capital Washington.Officials in b

Nov. 19, 2018

Italy sticks to budget in high-stakes EU standoff

ROME (AFP) -- Italy's populist government defied the European Commission Tuesday by sticking to its big-spending budget plan, risking financial sanctions in a high-stakes standoff with Brussels.Despite pressure from the European Commission, which rejected Rome’s budget outright last month in a first for the EU, Italian Deputy Prime Minister Luigi Di Maio vowed to stand firm on the country's anti-austerity plans.“The budget will not change, neither in its balance sheet nor in its growth forecast.

Nov. 14, 2018

‘US, China talking trade at all levels’

The US and China have resumed contact “at all levels” over trade ahead of a planned meeting between President Donald Trump and China’s Xi Jinping, White House economic adviser Larry Kudlow said.There’s no certainty that China will cede to US demands in trade negotiations, but “it’s better to talk than to not talk,” Kudlow said in an interview on CNBC Tuesday. A top Chinese negotiator, Liu He, will probably visit Washington shortly to advance “some informal talks,” Commerce Secretary Wilbur Ross

Nov. 14, 2018

New Amazon HQ split between New York, Washington suburbs

Amazon's "second headquarters" is being split between New York City and the Washington suburbs, the US tech giant announced Tuesday, capping a yearlong contest that saw dozens of cities fight it out for a promised $5 billion investment and 50,000 expected jobs.The chosen locations are Long Island City neighborhood in the New York borough of Queens, across the East River from Manhattan, and the Crystal City section of Arlington, Virginia, across the Potomac from the US capital.Both districts offe

Nov. 14, 2018

Trump blasts Saudi Arabia over oil

President Donald Trump took aim at Saudi Arabia’s plan to cut oil production on Monday, injecting new tension into an already fraught alliance that has been clouded by US concerns over the killing of journalist Jamal Khashoggi and the ongoing conflict in Yemen.Trump’s efforts to influence oil production threatens to further strain relations between the two historic allies, even as his administration continues to describe the Saudis as a crucial partner in a shared bid to counter Iranian influenc

Nov. 13, 2018

Stung by Asian dominance, Germany pours cash into EV battery ventures

BERLIN - Germany has earmarked 1 billion euros ($1.2 billion) to support a consortium looking to produce electric car battery cells and plans to fund a research facility to develop next-generation solid-state batteries, three sources told Reuters.The measures, expected to be announced next week, are designed to reduce the dependence of German carmakers on Asianelectric vehicle (EV) battery suppliers and protect German jobs at risk from the shift away from combustion engines.Berlin's push to shap

Nov. 9, 2018

Poop in hand, Bill Gates backs China's toilet revolution

As one of the world's richest men and most active philanthropists, Bill Gates usually has his hands full. Just not with poop.So it came as a surprise when the founder of Microsoft brandished a jar of human waste at a forum on the future of the toilet in Beijing on Tuesday.The stunt was an effort to draw attention to a problem affecting developing countries around the world: not enough toilets. Microsoft founder Bill Gates talks next to a container with human feces, a stunt to draw attention to t

Nov. 7, 2018

Amazon considers New York, Virginia amid reports of HQ split

NEW YORK (AP) — After a yearlong search for a second home, Amazon is now reportedly looking to build offices in two cities instead of one, a surprise move that could still have a major impact on the communities it ultimately selects.New York’s Long Island City as well as Crystal City in northern Virginia have emerged as the front runners, according to sources familiar with the talks with Amazon.Selecting those areas would bring more jobs to places that already have plenty. Jed Kolko, the chief e

Nov. 7, 2018

iPads, Macs get new screens as Apple pushes creativity

NEW YORK (AP) -- Apple’s new iPads will more closely resemble its latest iPhones as they ditch a home button and fingerprint sensor to make more room for the screen.As with the latest iPhone models — the XR and XS —the new iPad Pro will use facial-recognition technology to unlock the device and to authorize app and Apple Pay purchases.Apple also unveiled new Mac computers, including an overdue refresh of the MacBook Air laptop, now with a high-resolution screen. John Ternus, Apple`s V.P. of Hard

Oct. 31, 2018

IBM buys software company Red Hat for $34b in bid for cloud dominance

WASHINGTON (AFP) -- IBM said Sunday it has reached a deal to buy open source software company Red Hat for $34 billion, among the biggest tech mergers in history which the computing giant said would enhance its cloud offerings.If approved it will be the third biggest tech merger in history, according to business news site CNBC. Red Hat said it was the biggest involving a software company.The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190 per share in

Oct. 29, 2018

Amazon posts another record profit, but revenue disappoints

NEW YORK (AP) -- Amazon reported another record quarterly profit Thursday, fueled by the growth of online shopping and its cloud-computing service. But its revenue grew less than Wall Street analysts expected, and Amazon's shares fell after the results were released.   (AP)The company, based in Seattle, has boosted its profitability as it expanded far beyond online shopping. For years, the company posted razor-thin quarterly profits, spending most of what it earned on building warehouses and mak

Oct. 26, 2018