Business

Fresh fears of a trade war between the world's top two economies sent most Asian markets tumbling on Monday after the United States and China imposed tit-for-tat tariffs on billions of dollars of imports. Energy firms were among the biggest losers as oil prices plunged ahead of a key OPEC meeting, where Saudi Arabia and Russia are expected to lift a two-year-old production cap. Donald … [Read more...] about Asian markets tumble as Trump tariffs spark trade war fears

Higher U.S. rates are rattling many emerging markets in much the same way past tightening cycles did, but the Federal Reserve's hawkishness could also bring cheer for a small group of Asian economies that wouldn't mind seeing their currencies weaken. Fed rate hikes this year and the prospect of more to come have lifted Treasury yields, prompting investors to switch out of riskier emerging … [Read more...] about Select few emerging Asian economies comfortable with Fed hikes

Oil prices on Monday extended falls from late last week after China threatened duties on American crude imports in an escalating trade dispute with Washington, while supply from OPEC and Russia is also expected to rise. U.S. West Texas Intermediate (WTI) crude futures touched their lowest level since April, falling to $63.59 per barrel before edging back to $63.98 by 0635 GMT. That was still … [Read more...] about Oil falls on threat of China crude tariffs, expected OPEC supply rise

Gold prices inched higher on Monday after falling to a 5-1/2-month low in the previous session, as a trade dispute between the world's two largest economies triggered safe-haven buying, but a strong dollar put a cap on the upside. Spot gold edged up 0.1 percent to $1,279.70 per ounce by 0255 GMT. The yellow metal touched its weakest since late December at $1,275.01 an ounce on Friday. U.S. … [Read more...] about Gold prices inch up as trade row triggers safe-haven buying

Goldman Sachs said it expected China to adopt a slightly easier monetary stance in the face of tit-for-tat tariffs between Beijing and Washington that, while likely to have limited immediate impact on the economy, were at risk of escalating. On Friday, the Trump administration imposed tariffs on $50 billion (37.68 billion pounds) of imports from China, a move that came on top of hefty duties on … [Read more...] about Goldman sees slightly easier China monetary policy amid trade tiff with US

When flea market app Mercari makes its market debut on Tuesday, it will mark the appearance of one of Japan’s rarest beasts: a tech unicorn. In most countries, a billion-dollar IPO might suggest the return of an equity boom. But in Japan, it sheds light on a “thrift economy” for second-hand items, which is thriving even as the Bank of Japan tries to stoke inflation. Mercari’s app allows … [Read more...] about Behind flashy IPO of Japan’s Mercari lies a thriving thrift economya

Hindered by strikes and outdated equipment, French air traffic control is responsible for a third of aviation delays in Europe, Le Parisien said Monday, citing a senate finance committee report. Between 2004 and 2016, French air traffic controllers were on strike 254 days, while second-placed Greece only had 46 days of stoppages, Italy 37 and Germany four, according to the report seen by the … [Read more...] about France air traffic responsible for third of Europe delays: report