Siemens denies report that it may cut 20,000 jobs
German engineering giant Siemens denied on Friday a report by German monthly Manager Magazin that said it could cut 20,000 jobs as part of its “Vision 2020” strategy.
Dollar downbeat ahead of Powell speech, stocks subdued
The dollar fell on Friday, set for its biggest weekly decline since March as markets braced for a speech by Federal Reserve chair Jerome Powell for hints on the direction of monetary policy, while a gauge of global stocks barely budged.
Tipping point? Inflation creep at Australia’s mines to erode margins
As Australia’s big miners gear up for a new round of expansion after years of belt tightening, prices for everything from labor to fuel to equipment have begun to rise, driving up costs and eating into margins.
Fighting to survive: Noble Group’s fate hangs on investors restructuring vote
Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency.
Exclusive: China to keep hitting back at U.S. over trade, to boost government spending – finance minister
China will keep hitting back at Washington as more U.S. trade tariffs are imposed, but its counter-strikes will remain as targeted as possible to avoid harming businesses in China – whether Chinese or foreign, Finance Minister Liu Kun said.
Alibaba’s revenue jumps but investments to prolong margin squeeze
Alibaba Group Holding Ltd , China’s biggest e-commerce firm, warned on Thursday investments in its delivery business would keep pressuring profits even as it reported its strongest-ever quarterly revenue growth, largely in line with estimates.
China’s Huawei slams Australia 5G mobile network ban as ‘politically motivated’
Australia has banned Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network citing national security risks, a move the Chinese telecoms gear maker criticized as being “politically motivated”.
Exclusive: China’s Unipec to resume U.S. oil purchases after tariff policy change – sources
China’s Unipec will resume purchases of U.S. crude oil in October after a two-month halt due to the trade dispute between the world’s two largest economies, three sources with knowledge of the matter said.
Asia slips after U.S.-China trade talks end without progress
Asian stocks fell on Friday after U.S.-China trade talks ended without progress and market focus shifted to a speech by the Federal Reserve chairman for fresh clues on the direction of U.S. monetary policy.
Waymo sets up subsidiary in Shanghai as Google plans China push
Alphabet Inc’s self-driving unit Waymo has set up a subsidiary in Shanghai, according to a business registration filing, the latest sign that the U.S. internet giant is attempting to make new inroads into China.
