Friday, May 4th, 2018

 

Trump team demands China slash US trade surplus by US$200 billion, cut tariffs

BEIJING, May 4 — The United States has demanded that China cut its US trade surplus by US$200 billion, end subsidies for advanced technology industries and sharply cut import tariffs to US levels, two people familiar with US-China trade talks said…


End of the road for Uber app in Singapore on Monday, Grab confirms

SINGAPORE, May 4 — After a month-long extension, the Uber app will stop operating here on Monday (May 7), ride-hailing firm Grab has confirmed. Some Uber drivers who were previously told of hefty termination fees have also been able to return…


Alibaba says annual net profit up 47pc in 2017/2018

BEIJING, May 4 — Chinese e-commerce giant today announced a massive 47 per cent leap in net profit for the fiscal year 2017/2018, helped by a rise in smartphone and tablet transactions on its shopping platform. Profit climbed to 63.985 billion…


US dollar hits 2018 high despite weaker jobs data

NEW YORK, May 4 — The US dollar leaped to its highest levels this year against a basket of currencies today, despite disappointing US employment data for April. The US economy added fewer jobs than expected and although the unemployment rate…


Stocks mixed as US jobs market tightens

LONDON, May 4 — US stocks slid today after US jobs data showed a further tightening in the labour market and raised questions about the resilience of the economy while European markets were mixed. “US stocks are lower in early action, with a…


Houses priced above RM300,000 should not be classified as affordable, says Bank Negara

KUALA LUMPUR, May 4 — Houses in the price range of between RM300,000 and RM500,000 should not be categorised as affordable housing for households earning the median income, said Bank Negara Malaysia (BNM). It said based on the Housing Cost Burden…


US payrolls rebound to 164,000 gain; jobless rate hits 3.9pc

WASHINGTON, May 4 — US hiring rebounded in April and the unemployment rate dropped below 4 per cent for the first time since 2000, while wage gains unexpectedly cooled, suggesting the labour market still has slack to absorb. Payrolls rose 164,000…


Alibaba’s outlook tops estimates as spending drives growth

HONG KONG, May 4 — Alibaba Group Holding Ltd is forecasting a better-than-expected 60 per cent surge in revenue this year, counting on an international expansion and new businesses from cloud computing to supermarkets to sustain a sizzling pace of…


Moody’s revises Malaysia’s 2018 GDP upwards to 5.4pc

KUALA LUMPUR, May 4 — Moody’s Investors Service has raised Malaysia’s gross domestic product (GDP) growth forecast for 2018 to 5.4 per cent from 5.2 per cent projected earlier, underpinned by a pipeline of large infrastructure projects that…


Critical US-China trade talks end in Beijing

BEIJING, May 4 — China and the US ended the second day of high-stakes trade talks today with “big differences”, Beijing said, leaving the world’s two largest economies on the brink of a trade war that could have knock-on effects on the…