Page 2592 - Business Finance
Hong Kong Market falls on trade woes
US President Donald Trump on Friday signalled his intention to impose tariffs on additional $267 billion, in addition to the proposed 25% duty to be levied on $200 billion of Chinese goods. The US has already imposed additional tariffs of 25% on $50 billion of Chinese goods on 23 August under Section 301 on grounds of alleged theft of American intellectual property rights and forced transfer of technology from US companies by China. With additional tariffs on the proposed $200 billion Chinese goods, the total IPR (intellectual property rights)-related tariffs on Chinese goods will go up to $250 billion.
China Stocks down on trade tension
Investors were fretted about a possible escalation in the U.S.-China trade war after US President Donald Trump on Friday signalled his intention to impose tariffs on additional $267 billion, in addition to the proposed 25% duty to be levied on $200 billion of Chinese goods. The US has already imposed additional tariffs of 25% on $50 billion of Chinese goods on 23 August under Section 301 on grounds of alleged theft of American intellectual property rights and forced transfer of technology from US companies by China. With additional tariffs on the proposed $200 billion Chinese goods, the total IPR (intellectual property rights)-related tariffs on Chinese goods will go up to $250 billion.
Japan Nikkei bounces on bargain hunting
US President Donald Trump on Friday signalled his intention to impose tariffs on additional $267 billion, in addition to the proposed 25% duty to be levied on $200 billion of Chinese goods. The US has already imposed additional tariffs of 25% on $50 billion of Chinese goods on 23 August under Section 301 on grounds of alleged theft of American intellectual property rights and forced transfer of technology from US companies by China. With additional tariffs on the proposed $200 billion Chinese goods, the total IPR (intellectual property rights)-related tariffs on Chinese goods will go up to $250 billion.
Australia Market edges up on buybacks
President Mr. Donald Trump threatened China with another round of punishing tariffs on Friday, saying he was prepared to tax essentially all Chinese goods imported into the United States if Beijing did not change its trade practices. The threat comes as the administration prepares to move forward with another round of tariffs on $200 billion worth of Chinese imports, including many everyday consumer products like electronics and housewares. The White House has already imposed tariffs on $50 billon worth of Chinese goods, and China has retaliated with a similar amount of tariffs on American products. Mr. Donald Trump hinted on Friday that the next round of tariffs was guaranteed unless China agreed to his demands to more freely open its markets to American companies.
Singapore drops to 17-month low, Philippine index slides again
(Reuters) - Singaporean shares skidded to a 17-month low on Monday while the Philippines index fell for the fourth straight session, as sentiment in Asia remained dull amid an escalating trade feud between the United States and China.
Alibaba CEO Daniel Zhang to succeed Jack Ma as Chairman
Chinese conglomerate Alibaba Group Holding Limited Monday said its chief executive officer Daniel Zhang will succeed Jack Ma as the chairman of the board next year. "...One year from today, September 10, 2019, CEO Daniel Zhang will succeed Jack Ma as chairman of the board of Alibaba Group," the group said in a statement. Ma will continue as executive chairman of the company over the next 12 months to ensure a smooth transition. He will complete his current term as a member of Alibaba Group's board of directors until its annual general meeting of shareholders in 2020, the statement said. Ma, a former English teacher had co-founded Alibaba in 1999 as an e-commerce marketplace. Alibaba has now grown to be among the largest global tech giants with operations in cloud and digital payments as well. It has also invested in a number of companies, including Indian digital payments firm, Paytm. In a letter to shareholders and employees, Ma said he had put a lot of thought and preparation into ..
India's 10-year bond yield highest since late-2014, rupee at record low
MUMBAI (Reuters) - India's 10-year bond yield rose to its highest since late-2014 on Monday as worries of higher crude prices and weakening rupee bolstered inflation concerns.
Reliance Retail Ventures acquires 16.31% stake in Genesis Colors
Aggregate holding of Reliance Retail Ventures and Reliance Brands in Genesis Colors stands at 65.77%
Tata Global Beverages restructures international operations
Restructure of EMEA and CAA business units: The erstwhile EMEA (UK, Europe, Middle East and Africa) and CAA (Canada, Australia, and Americas) units of TGB have been merged into a single unit called the International Business Division, with experienced country heads in key markets, reporting into a single head, Adil Ahmad for the International Business Division. This will build greater alignment across the company and better cost efficiency. Adil has been with TGB since 2015 as Chief Marketing Officer. He has played a key role in developing a strong portfolio of global brands with a focus on overall brand health, profitability and premiumization.
China's August producer inflation eases, points to more pressure on economy
BEIJING (Reuters) - China's producer inflation cooled in August amid softening domestic demand, pointing to a steady slowing in growth in the world's second biggest economy as it confronts heightened risks to the outlook from a heated trade dispute with the United States.
Alibaba's Jack Ma to retire next year, Daniel Zhang to succeed
Alibaba's Executive Chairman Jack Ma will step down in September 2019 and hand over the reins to Chief Executive Daniel Zhang, the Chinese e-commerce giant said on Monday.
Equity indices open in red on global cues, weak rupee
The key Indian equity indices opened in the negative territory on Monday, tracking broadly negative cues in the global markets and also due to a weakening rupee.
US stocks ended in the red
Stocks slip amidst job report and tariff comments
Tata Motors drops after poor JLR sales
Tata Motors lost 1.15% to Rs 274.30 at 09:19 IST on BSE after the company's subsidiary Jaguar Land Rover reported 4.9% fall in total retail sales to 36,629 vehicles in August 2018 over August 2017.
U.S. SEC halts trading in two cryptocurrency products, citing market confusion
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs).
Oil climbs as U.S. drilling stalls, Washington sanctions against Iran loom
SINGAPORE (Reuters) - Oil prices rose on Monday as U.S. drilling for new production stalled and as the market eyed tighter conditions once Washington's sanctions against Iran's crude exports kick in from November.
Rupee opens at fresh low of 72.18 per dollar
The Indian rupee opened at a fresh record low of Rs 72.18 on Monday, against the previous close of 71.73 per US dollar.
Market opens lower on negative global cues
Key benchmark indices were trading lower in early trade. At 9:19 IST, the barometer index, the S&P BSE Sensex, was down 72.92 points or 0.19% at 38,316.90. The Nifty 50 index was down 22.25 points or 0.19% at 11,566.85. Negative cues from the global market put pressure on domestic stocks.
Rupee weakens to 72.15 versus dollar tracking Asian currencies
MUMBAI (Reuters) - Indian rupee fell on Monday tracking other Asian currencies on global dollar strength.
Alibaba founder Jack Ma to step down in 2019, names company CEO as successor
Alibaba founder and billionaire Jack Ma announced on Monday he would step down as the Chinese e-commerce giant's executive chairman next year and named the company CEO as his successor. Ma, 54, will hand over the keys of his company to 46-year-old Daniel Zhang in an unprecedented succession plan that will slowly take the focus off one of China's most recognisable corporate names over the next 12 months, Hong Kong-based South China Morning Post, which is owned by Alibaba, reported. Zhang will be promoted to the executive chairman on September 10, 2019, while Ma remains a director on Alibaba's board and a permanent member of the Alibaba Partnership, according to a letter written by Ma to all staff including to the Post. Ma said he will remain Alibaba's executive chairman during the year-long period to ensure a "smooth and successful" transition, and stay on as an Alibaba director until a shareholder' meeting in 2020. "This transition demonstrates that Alibaba has stepped into the next ..