Friday, June 29th, 2018

 

German data, not politics key for trade war watchers

DUBLIN, June 29 ― While German politics may dominate the headlines again in the coming week, the less attention grabbing release of industrial data could offer a better indication of the headwinds facing the European Union and its largest economy….


Dollar slips as EU migration deal boosts euro

NEW YORK, June 29 ― The dollar slipped to a three-day low against the euro today after European Union leaders reached an agreement on migration that eased pressure on German Chancellor Angela Merkel, but the greenback remained on track to log its…


Qualcomm extends NXP tender offer yet again

NEW YORK, June 29 ― US chipmaker Qualcomm Inc today extended the tender offer for its proposed US$44 billion (RM177.4 billion) deal to buy NXP Semiconductors NV for the 29th time as it awaits clearance from the Chinese government. Qualcomm, which…


Lawsuit targets 'hidden fees' in Wells Fargo finance programmes

NEW YORK, June 29 ― Wells Fargo & Co has been hit with a lawsuit by a Texas jewellery company accusing it of encouraging thousands of retailers nationwide to charge hidden fees to customers using financing programmes created by the bank. Filed…


China's ZTE shakes up board in bid for US ban lift

SHENZHEN, June 29 ― Chinese telecoms giant ZTE Corp announced a new board today in a radical management shakeup as part of a US$1.4 billion (RM5.64 billion) deal with the United States, moving it closer towards getting a devastating American…


Treasury chief Mnuchin slams report that Trump wants to exit WTO

WASHINGTON, June 29 ― US Treasury Secretary Steve Mnuchin said today a report by the Axios news website, that cited sources as saying President Donald Trump wanted the United States to withdraw from the World Trade Organization, was wrong….


Axios: Trump has repeatedly told aides he wants to quit the WTO

GENEVA June 29 ― President Donald Trump has repeatedly told top White House officials he wants the United States to withdraw from the World Trade Organization (WTO), a move that would be potentially calamitous for global commerce, the news website…


Spooked by Trump, Europe's Iranian oil purchases set to plummet

LONDON, June 29 ― European refiners are cutting purchases of Iranian oil faster than expected as the US prepares to reimpose sanctions on Iran, threatening a more severe impact than the last round of punitive measures in 2012 even though the EU…


Sapura Energy makes first-quarter loss of RM135.7m

KUALA LUMPUR, June 29 ― Malaysia's largest oil and gas services firm Sapura Energy Bhd today reported a loss in the first quarter, on the back of lower revenues from its engineering and construction, and drilling businesses. Sapura Energy made a…


US futures jump as Nike, financial stocks gains

NEW YORK, June 29 ― US stock index futures gained today, as Nike jumped after strong results and as bank stocks rose after clearing the Federal Reserve's stress tests. The futures, though, fell sharply before recovering after news website Axios…