Asian shares recover from 3-week lows but trade deal worries limit gains
Asian equities posted a mild bounce on Friday from three-week lows hit the previous day, with persistent worries over the status of trade negotiations between China and the United States limiting the gains.
SocGen’s heads of Asia trade finance depart after bunker fuel losses
Societe Generale’s regional heads of trade and commodities finance for Asia Pacific have left the Paris-based bank, raising concerns among Singapore-based shipping fuel traders that it may wind back financing services to the sector.
Australia’s Westpac hit by Goldman downgrade over money-laundering scandal
Goldman Sachs became the first major investment bank to cut its target price for Westpac Banking Corp on Friday as Australia’s No.2 lender faces allegations of massive breaches of anti-money laundering laws and billions of dollars in fines.
Australian fund cuts Westpac bond exposure on money laundering allegations
An Australian bond fund has started to divest Westpac bonds following allegations by the country’s financial crime regulator of money laundering compliance breaches, some of which related to financing child exploitation.
Panasonic has no plans for new Tesla battery plant in China: CEO
Panasonic Corp has no plans to build a new battery plant for Tesla Inc in China, the Japanese company’s chief executive said, as it struggles to make profits from its existing battery business with the electric vehicle maker.
Asian shares up from three-week lows, but trade uncertainty nags
Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United States.
Goldman flags risks for Australia’s Westpac bank amid money-laundering scandal
Goldman Sachs cut its target price for Westpac Banking Corp on Friday as Australia’s second-biggest bank stands accused of massive breaches of anti-money laundering laws and faces billions of dollars in fines.
Gap’s quarterly profit beats; says working on plan to split Old Navy
Gap Inc edged past lowered expectations for quarterly profit on Thursday and reiterated its plan to separate Old Navy from the namesake brand, days after the retailer cut its annual forecast and replaced longtime chief executive officer.
Nordstrom bucks trend of grim retail forecasts; share jump 8%
Nordstrom Inc raised its 2019 forecast, unlike many competitors, and reported third-quarter profit above Wall Street expectations on Thursday as it sold more off-price clothing and kept inventories in check, sending the retailer’s shares up about 8% i…
Australia’s Westpac faces Goldman cut as money-laundering scandal rocks bank
Goldman Sachs cut its target price for Westpac Banking Corp as Australia’s second-biggest bank faces the country’s biggest money laundering scandal.
