Asian shares falter, dollar jumps as Powell dampens hopes for more rate cuts
Asian shares fell to six-week lows on Thursday and the dollar rose after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but poured cold water on market expectations of a lengthy easing cycle.
Australia’s Qantas says it will not trim Alliance stake despite competition concerns
Australian flag carrier Qantas Airways Ltd said it had no plan to cut its stake in Alliance Airlines, after the competition regulator raised concerns over its acquisition of 19.9% in its rival.
State AGs fighting T-Mobile, Sprint merger request new trial date in December
An attorney for a group of 13 state attorneys general who filed a lawsuit in hopes of stopping T-Mobile U.S. Inc’s $26 billion merger with Sprint Corp has requested a new trial date for the case.
Oil drops as Fed signals rate cuts may be limited
Oil prices fell more than $1 on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of rate cuts and Sino-U.S. trade talks ended without progress.
Beyond Meat’s secondary stock offering priced at $160 per share
Meat alternatives company Beyond Meat Inc said on Wednesday a secondary offering of 3.25 million new shares would be priced at $160 per share, an 18.6% discount to the stock’s closing price.
Brazil’s Vale dam disasters trigger $2 billion in fresh writedowns
Brazilian miner Vale SA on Wednesday said it swung to a quarterly loss as the company announced more than $2 billion in fresh writedowns related to two deadly dam bursts suffered by the company over a period of less than four years.
Asian shares seen falling on ‘hawkish’ Fed outlook
Asian shares were set to open significantly lower on Thursday as the U.S. Federal Reserve poured cold water on market expectations of a lengthy easing cycle after delivering a 25-basis-point cut.
U.S., China to keep talking on trade after little progress in Shanghai
U.S. and Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world’s two largest economies.
Cisco whistleblower gets first False Claims payout over cybersecurity
Cisco Systems Inc has agreed to settle a whistleblower’s claim that it improperly sold video surveillance software with known vulnerabilities to U.S. federal and state governments, marking the first payout on a False Claims Act case brought over failure to meet cybersecurity standards.
Qualcomm outlook clouded by Huawei’s smartphone gains in China
Qualcomm Inc’s quarterly revenue and profit forecast fell short of Wall Street targets, driven by Huawei Technologies Co Ltd’s strong gains in the Chinese smartphone market, the U.S. company said, sending its shares down as much as 6%.
