World stocks stall as U.S.-China tensions flare again
A four-day rally that had lifted world stocks to near-record highs stalled on Thursday after China said it would retaliate for U.S. legislation backing Hong Kong’s protesters, leaving investors concerned as to the extent of the Chinese response.
Factbox: India’s telecom sector on the ropes after $13 billion levy ruling
India’s telecoms sector has been rocked by a Supreme Court ruling last month that sided with the government in a dispute over how levies are calculated, saddling the industry with a combined $13 billion in fresh debt.
After $13 billion levy ruling, future of India’s tattered telecom sector hinges on government aid
The Indian government’s win of a long-contested dispute over telecom fees could end up a Pyrrhic victory, as the billions of dollars in levies now owed are seen as burdens too big to bear for two of the country’s three main carriers.
China’s factory activity seen contracting for seventh month on trade pressure: Reuters poll
China’s factory activity is expected to have contracted for the seventh straight month in November amid sluggish domestic demand a Reuters poll showed, despite some optimism over chances for an interim deal to de-escalate a trade war with the United St…
Oil falls for a second day amid rising U.S. inventories, output
Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose against expectations as production hit a record.
Panasonic to sell its chip unit to Taiwan’s Nuvoton for $250 million
Panasonic Corp said it would sell its loss-making semiconductor unit to Taiwan’s Nuvoton Technology Corp for $250 million as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers.
China’s major shareholders sell A-shares, pressuring markets
Business owners and major shareholders are selling down their stakes in listed companies, producing a glut of shares in a market already under pressure from a slowing economy and the impact of the Sino-U.S. trade dispute.
Drugmakers slash prices in China to get on reimbursement list
Drugmakers including Roche and Novartis’ have agreed to cut the prices of some of their newest drugs by an average of 61% in China in order to get on a national reimbursement scheme list, regulators said.
Exclusive: Facing U.S. sanctions, Venezuela offers suppliers payment in Chinese yuan – sources
Venezuela’s government and its oil company PDVSA have offered to pay suppliers and contractors into accounts in China using the yuan currency, five people familiar with the matter said.
Asian shares sink as Hong Kong tensions spoil festive mood
Asian share markets fell on Thursday as concerns that tensions over Hong Kong may stymie a U.S.-China trade deal cast a pall over Thanksgiving cheer from positive U.S. economic data.
