Wednesday, April 19th, 2017

 

US dollar edges up from three-week low; sterling drops

NEW YORK, April 19 — The dollar crept higher today, a day after dropping to a three-week low against a basket of major currencies amid a repricing of expectations of US Federal Reserve rate increases and concerns about US President Donald…


S&P, Nasdaq climb as banks and techs gain; IBM dents Dow

NEW YORK, April 19 — Gains in financial and technology stocks kept the S&P 500 and the Nasdaq firmly positive today, while a slump in IBM held back the Dow. The advance in financials was underpinned by a 2.6 per cent jump in shares of Morgan…


China’s biggest automaker SAIC places US ambitions on hold

SHANGHAI, April 19 — SAIC Motor Corp, China’s biggest carmaker by sales, has halted a plan to export its own branded vehicles to the US until it gets more clarity on Sino-US trade policy under President Donald Trump. SAIC Motor, which has…


US tax cuts may lead companies to take too much risk, IMF says

WASHINGTON, April 19 — Tax cuts and financial deregulation proposed by the Trump administration could embolden American companies to boost risk taking to undesirable levels, the International Monetary Fund warned. President Donald Trump has…


Indonesian investors seen returning to fundamentals after Jakarta election

JAKARTA, April 19 — Investors in Indonesian markets are likely to return to fundamentals such as corporate earnings, as the political uncertainties surrounding the divisive Jakarta election diminish, business groups and analysts say. Former…


Morgan Stanley’s quarterly profit surges on trading gains

NEW YORK, April 19 — Morgan Stanley reported a 74 per cent jump in quarterly profit today, topping analysts’ estimates, as revenue from bond trading nearly doubled following interest rate hikes by the Federal Reserve. The bank’s results…


China to cut firms’ tax burden to support economic growth

BEIJING, April 19 — China will move to cut firms’ tax burdens by a total of 380 billion yuan (RM242.7 billion) this year to aid economic growth, the cabinet said today. Tax cuts will help “consolidate a steadying and improving trend of the…


Opec chief sees oil producers near to re-balancing market

LONDON, April 19 — Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and Opec will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad…


China says trademarks registered equally as Ivanka Trump gets more approved

BEIJING, April 19 — China’s Foreign Ministry said today the government equally handles applications to register trademarks, following a report that the company of the daughter of US President Donald Trump has had new trademarks approved in…


AirAsia unit buys stake in Touristly Travel

KUALA LUMPUR, April 19 — AirAsia Bhd’s unit, AirAsia Investment Ltd (AAIL), has acquired a 50 per cent stake in Touristly Travel Sdn Bhd. In a filing to Bursa Malaysia Securities Bhd today, AirAsia said, it had executed a share subscription…