Friday, June 22nd, 2018

 

European and US autos stocks fall on Trump’s 20pc tariff threat

LONDON, June 22 — European and US autos shares fell sharply today after US President Donald Trump threatened a 20 per cent tariff on all car imports from the European Union if EU “tariffs and trade barriers” are not removed. Europe’s autos…


Trump threatens 20pc tariff on all imported EU cars

WASHINGTON, June 22 — US President Donald Trump threatened today to impose a 20 per cent tariff on cars imported from the European Union, after the bloc’s additional tariffs on dozens of American products took effect. “Based on the Tariffs and…


Stock markets shrug off opening salvos in trade war

LONDON, June 22 — World stock market rose today, seemingly unworried by a global trade war that got underway when Brussels slapped retaliatory tariffs on the United States. Oil prices continued to rise after the Organisation of the Petroleum…


Energy, financials push Wall St higher; tech weighs

NEW YORK, June 22 — Energy and bank stocks led the S&P and Dow higher today, though a decline in technology shares capped gains and pushed the Nasdaq slightly lower. The benchmark Brent crude jumped 1.9 per cent to US$74.48 (RM298) a barrel,…


Bitcoin approaches year low as Japan cracks down on venues

HONG KONG, June 22 — Bitcoin approached its lowest price for the year after Japanese regulators hit six of the country’s biggest cryptocurrency trading venues with business-improvement orders. The crackdown surprised investors, ending what was…


Oil up over 2pc as Opec raises output modestly

LONDON, June 22 — Oil prices rose sharply today as Opec agreed a modest increase in output to compensate for losses in production at a time of rising global demand. Benchmark Brent crude jumped US$2.29 a barrel, or 3.1 per cent, to a high of…


EU backs bigger war chest for failing banks but split on budget, debt

LUXEMBOURG, June 22 — European Union finance ministers agreed today to double a war chest for dealing with failing banks and boost powers of the euro zone bailout fund, but were split over whether to have a mechanism to restructure government debt…


Opec agrees modest hike in oil supply after Iran softens stance

VIENNA, June 22 — Opec agreed today on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply…


The toll of Trump’s trade war: Damage to more than just Daimler

MUNICH, June 22 — Over the past three decades, the global auto industry has gotten, well, more global. Manufacturers built scores of factories outside their home countries to reduce exposure to currency swings, take advantage of cheaper labour and…


GM building Chevy Blazer in Mexico risks provoking Trump’s ire

NEW YORK, June 22 — Just as US President Donald Trump is threatening tariffs on imported autos, General Motors Co plans to resurrect the Chevrolet Blazer, this time as a sleeker sport utility vehicle — made in Mexico. The new mid-size model —…