Asian shares slip to six-week low, pound pressured by hard Brexit fears
Asian shares fell on Wednesday to a six-week trough, rattled by fresh trade war concerns following threats from President Donald Trump to Beijing, while increasing worries about a no-deal Brexit kept the pound under pressure.
China, U.S. officials meet for trade talks in Shanghai
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin shook hands with Chinese Vice Premier Liu He before beginning trade talks in Shanghai on Wednesday in a bid to end a year-long trade war.
U.S. negotiators need to show ‘sincerity’ in Shanghai talks: China state media
Negotiators from the United States should show “sincerity” and temper expectations as they begin a new round of talks with Chinese counterparts to ease trade tensions between the two sides, state-owned tabloid Global Times said on Wednesday.
After $6 billion M&A spree, insurer FWD eyes China foray ahead of IPO
Fast-growing insurer FWD is seeking to launch operations in China ahead of a public offering and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the region’s insurance sector.
China probes small bank shareholdings as risk worries persist
China is sharpening its scrutiny of small banks’ shareholders amid fears that loans from the lenders to big investors could prove a weak point in the country’s financial system, jolted by the state’s weekend rescue of one lender and recent takeover of …
China’s service sector activity grows at slower pace in July: official PMI
China’s services sector activity grew at a slower pace in July, an official survey showed on Wednesday, heaping pressure on Beijing which is counting on the sector to help weather a sharp hit to its manufacturers and the economy from the Sino-U.S. trad…
Oil prices rise for fifth day after U.S. stocks decline
Oil prices rose for a fifth day on Wednesday, buoyed by a bigger than expected drop in U.S. inventories and as investors awaited a widely expected cut in interest rates by the Federal Reserve, the first in more than 10 years.
Samsung Electronics looks to chip recovery as second-quarter profit falls 56%
Samsung Electronics Co Ltd said it expected the chip market to bottom out and start to recover in the second half as it posted a 56% drop in quarterly profit on Wednesday, hit by declines in semiconductor prices amid oversupply.
Asian shares on defensive, pound at 28-month low on hard Brexit fears
Asian shares weakened in early trade on Wednesday, rattled by fresh trade war concerns following threats from President Donald Trump to Beijing, while increasing worries about a no-deal Brexit kept the pound under pressure.
Ivory Coast, Ghana pricing agreement causing a ‘spike in cocoa cost’ – Mondelez
A new cocoa pricing mechanism announced by top growers Ivory Coast and Ghana earlier this month is causing cocoa costs to rise, a Mondelez International Inc executive said on an earnings call with analysts on Tuesday.
