Monday, September 10th, 2018

 

Wall Street higher as tax cut hopes keep trade war fears at bay

NEW YORK, Sept 10 — US stock indexes were higher today, boosted by the consumer discretionary sector and as hopes for a new round of tax cuts overshadowed fears of an escalation in the Sino-US trade war. Republicans in the US House of…


EU, US make first push for closer ties after trade detente

BRUSSELS, Sept 10 — European Union trade chief Cecilia Malmstrom met her US counterpart for the first time today since President Donald Trump dropped his threat to impose tariffs on EU cars, saying they had discussed how to achieve concrete…


Bitcoin rises above US$6,300 as New York approves dollar-linked digital currencies

NEW YORK, Sept 10 — Bitcoin briefly climbed above US$6,300 (RM26,140) today after New York state’s Department of Financial Services approved Gemini Trust Company’s and Paxos Trust Company’s dollar-linked digital currencies, the first…


Sterling inches higher but Brexit overshadows robust GDP

LONDON, Sept 10 — Sterling traded modestly higher against the dollar and euro today as Brexit concerns overshadowed data showing the British economy posting its fastest growth in almost a year. The British currency had last week posted its biggest…


Spotlight on Alibaba CEO Zhang as Jack Ma starts retirement countdown

BEIJING, Sept 10 — Unlike his charismatic boss, Jack Ma, Alibaba chief executive Daniel Zhang isn’t usually one to grab the limelight, let alone make kung fu movies with superstars or dance in public. Little is known outside the company about…


World shares face longest losing streak since January 2016

LONDON, Sept 10 — World shares were flirting with their longest run of declines since early 2016 today, hit by rising anxiety about the US-China trade war and another interest rate increase by the Federal Reserve later this month. Europe defended…


Asian markets sink on fresh trade fears after Trump remarks

HONG KONG, Sept 10 — Hong Kong and Shanghai led a broad sell-off across most Asian markets today after Donald Trump threatened to impose tariffs on all Chinese imports, ramping up fears of an all-out trade war between the world’s top two…


China vows to respond if US takes new steps on trade

BEIJING, Sept 10 — China will respond if the United States takes any new steps on trade, the foreign ministry said today, after President Donald Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. On…


VW faces first big German court date over ‘dieselgate’

FRANKFURT, Sept 10 — The first major German court case against Volkswagen over the “dieselgate” scandal that has shaken up the car industry gets under way today, as investors pursue the world’s largest automaker for billions in compensation….


Jack Ma to step down in Sept 2019, Zhang to become Alibaba chairman

BEIJING, Sept 10 — Jack Ma, the charismatic co-founder and chairman of China's largest e-commerce firm Alibaba Group Holding Ltd, has begun making arrangements to step down as part of a long-term transition plan, the company said today. Ma will…