Global stocks tumble as Trump sparks global trade war fears
LONDON (Reuters) – The specter of a global trade war sent world stocks tumbling on Friday and drove investors toward the traditional safe plays of government bonds and the Japanese yen.
Asia may face steel, aluminum glut with Trump’s tariff plan
MANILA/MELBOURNE (Reuters) – U.S. President Donald Trump’s plan to slap hefty tariffs on steel and aluminum imports will likely make Southeast Asia the new hunting ground for global exporters seeking buyers, creating a glut that could depress prices an…
Australia watchdog takes Rio Tinto, executives to court over Mozambique deal
MELBOURNE (Reuters) – Australia’s corporate watchdog said on Friday it has launched court action against miner Rio Tinto and two former executives for misleading investors about the coal reserves it reported in a $4 billion acquisition in Mozambique.
GM’s South Korea sales halve after plans for drastic restructuring
SEOUL (Reuters) – General Motors saw its South Korean vehicle sales tumble by almost half in February, as consumers took fright at its decision to slash production and restructure its loss-making operations in the country.
Malaysia’s AirAsia says still with Airbus, no plans to buy Boeing planes
KUALA LUMPUR (Reuters) – Malaysian budget airline AirAsia Bhd is sticking with Airbus and has no plans currently to purchase Boeing aircraft, Group CEO Tony Fernandes said at a press briefing late on Thursday.
Mergers within Renault-Nissan-Mitsubishi alliance possible but not a goal: Ghosn
PARIS (Reuters) – The head of Renault, Carlos Ghosn, on Friday did not rule out the possibility of mergers among members of the Renault-Nissan-Mitsubishi alliance but said this was not necessarily a goal.
Rio Tinto’s Mozambique woes mount as Australian watchdog takes company to court
MELBOURNE (Reuters) – Australia’s corporate watchdog said on Friday it has launched court action against global miner Rio Tinto and two former executives for misleading investors about the coal reserves it reported in a $4 billion acquisition in Mozam…
Nippon Steel plans $16 billion domestic capex over next three years
TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp , Japan’s biggest steelmaker, said on Friday it planned to earmark a total 1.7 trillion yen ($16 billion) for domestic capital spending over the next three years to upgrade and reinforce aging plants.
Earnings boost for stocks may lose luster with rising yields
NEW YORK (Reuters) – There is little doubt on Wall Street that U.S. corporate profits are on track to rise at a healthy rate this year, with an overall estimate for growth of almost 20 percent.
Subaru to replace president after faulty inspections scandal
TOKYO (Reuters) – Automaker Subaru Corp said it was replacing its president and overhauling its board after an inspections scandal, part of a string of compliance failings that surfaced last year and hit Japan Inc’s reputation for quality control.
