Farmer Liu Bingyong used to make a tidy profit selling milk but is now leaking cash — the victim of a dairy sector crisis that embodies several of China’s economic woes.Milk is not a traditional mainstay of Chinese diets, but the government has long pushed people to drink more, citing its health benefits.The country has …
Economic woes sour prospects for China’s dairy farmers Read More »
Wall Street stocks closed at fresh records Friday, extending a post-election rally while European equities pulled back as investors weighed the impact of Donald Trump’s presidential election win.All three major US indices pushed to records, with the S&P 500 ending up around 4.7 percent for the week.”We’re in this honeymoon period between Election Day and …
US stocks hit fresh records as European bourses retreat Read More »
Wall Street shares mostly rose but global stock markets fell on Friday following rallies this week as investors weighed the impact of Donald Trump’s presidential election win and efforts to prop up China’s economy.The Dow and S&P 500 were up in morning deals but the tech-heavy Nasdaq was flat following fresh records the previous days …
Stock markets waver after US election rally, rate cut Read More »
Cartier owner Richemont posted Friday a hefty drop in net profit for the first half of the year as watch sales sank in China, where weak consumer spending has hit the luxury sector.Richemont said its profit after tax reached 457 million euros ($492 million), down from 1.5 billion euros in the same six-month period last …
Cartier owner’s profit sinks as China sales slump Read More »
China on Friday unveiled some of its most ambitious plans in years to lift local government debt, following a meeting of lawmakers eyeing the possibility of intensified trade tensions with US president-elect Donald Trump.Local governments in China face a ballooning debt burden of $5.6 trillion, according to Beijing, raising worries about wider economic stability. The International …
China unveils sweeping local govt debt swap to lift ailing economy Read More »
European and Asian stock markets mostly retreated Friday as US and China policy updates cause concern about growth outlooks in the world’s two biggest economies.There is unease that US president-elect Donald Trump’s planned tax cuts and import tariffs will rekindle inflation in the United States and beyond, which could in turn see the Federal Reserve …
Sony’s net profit jumped in the second quarter thanks to stronger sales in gaming, music and imaging sensors, the PlayStation maker said Friday as it left its annual profit forecasts unchanged.The yen’s weakness against the dollar and euro had a positive impact on takings in those key sectors, the Japanese conglomerate said.However, Sony Pictures suffered …
Sony quarterly net profit jumps but forecast unchanged Read More »
China said on Friday lawmakers had agreed to raise the local government debt ceiling by $840 billion, opening up new funds for its ailing economy as they eye the possibility of intensified trade tensions with US president-elect Donald Trump.Policymakers were keeping tabs on the US vote as they gathered in the Chinese capital this week …
China to raise local govt debt ceiling to boost struggling economy Read More »
Asia’s markets rally stuttered Friday after early gains as traders struggled to keep up with another Wall Street record following the Federal Reserve’s interest rate cut, while they were also weighing the outlook with another Trump administration.Traders were also awaiting the end of a week-long meeting of key Chinese officials who have been hammering out …
Asian markets struggle to maintain momentum after Fed cut Read More »
China is expected to unveil a huge support package for the struggling economy Friday as officials wrap up a key meeting eyeing on the possibility of intensified trade tensions with US president-elect Donald Trump.Economists predict Beijing will approve hundreds of billions of dollars of help, with a focus on indebted local governments as well as …
China poised to approve more help for ailing economy Read More »
