AFP

TikTok on Tuesday labeled as “pure fiction” a report that China is exploring a potential sale of the video-sharing platform’s US operations to billionaire Elon Musk as the firm faces an American law requiring imminent Chinese divestment.Citing anonymous people familiar with the matter, Bloomberg News had earlier reported that Chinese officials were considering selling the …

TikTok calls report of possible sale to Musk’s X ‘pure fiction’ Read More »

Asian markets diverged Tuesday as bargain buying after recent losses played against ongoing worries about the outlook for the global economy and the impact of a second Donald Trump presidency.A report saying the incoming US leader’s economics team was considering slowly hiking tariffs on imports provided support to traders and put a cap on the …

Asian markets mixed as traders eye US inflation data, earnings Read More »

Kyoto authorities announced Tuesday plans to hike lodging taxes, as Japan’s ancient capital seeks to assuage grumbles from locals about too many tourists.Lured by its myriad sights and a weak yen, Japan has seen foreign tourism numbers explode in recent years, with arrivals in 2024 expected to have hit a record of more than 35 …

Japanese tourist magnet Kyoto to hike hotel taxes Read More »

Authorities in Kyoto announced Tuesday plans for a big hike in hotel lodging taxes, as Japan’s picture-perfect ancient capital seeks to assuage grumbles from locals about too many tourists.Japan has seen foreign tourist numbers explode post-pandemic, with visitor numbers in 2024 expected to have hit a record of more than 35 million.But like other hotspots …

Japanese tourist hotspot Kyoto to hike hotel taxes Read More »

Donald Trump’s second presidential term promises a return to tariffs as he pressures partners and rivals to tackle everything from migration to drug trafficking, while protecting US industries — in moves that could trigger new trade wars.Even before taking office, Trump has raised the prospect of fresh levies on companies, countries and groups of states …

Trump’s return threatens resurgence of trade wars Read More »

The United States unveiled new export rules Monday on chips used for artificial intelligence, furthering efforts to make it tough for China and other rivals to access the advanced technology in Joe Biden’s final days as president.The announcement of the restrictions drew a fiery pushback from Beijing and prompted US chip industry criticism, while the …

US announces new restrictions on AI chip exports Read More »

Global markets mostly retreated on Monday after traders trimmed bets on US Federal Reserve rate cuts and oil extended a rally sparked by new sanctions on Russia’s energy sector.Equities had tumbled Friday following strong US jobs data that traders viewed as lessening the odds of Federal Reserve interest rate cuts in 2025.Wall Street began the …

Stock markets mostly fall as traders trim US rate cut bets Read More »

Global markets slid Monday after traders trimmed bets on US Federal Reserve rate cuts and oil extended a rally sparked by new sanctions on Russia’s energy sector.An outsized US jobs report Friday dealt another blow to hopes for more interest rate cuts in 2025, and was followed by hefty losses on Wall Street. Wall Street’s main …

Stock markets fall as traders trim US rate cut bets Read More »

Asian and European markets sank Monday after an outsized US jobs report dealt another blow to hopes for more interest rate cuts, while oil extended a rally sparked by new sanctions on Russia’s energy sector.The equity sell-off tracked hefty losses on Wall Street, where all three main indexes finished more than one percent lower as …

Markets track Wall St losses after blockbuster US jobs report Read More »