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Banks lead US stock slide, extending market’s losing streak

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Banks led a broad slide in U.S. stocks Monday as an early rally faded, giving the benchmark S&P 500 index its fourth straight loss. Health care and energy stocks also helped pull the market lower, outweighing gains by technology and consumer-focused stocks. Crude oil prices eked out a small gain after spending most of the day in the red. The latest losses came as traders geared up for a busy week of company earnings reports that should help answer how Corporate America is coping with rising interest rates, inflation andRead More


Dow, S&P fall as earnings season picks up, tech boosts Nasdaq

NEW YORK, Oct 22 — The S&P 500 and the Dow fell in choppy trading yesterday as energy and financial stocks lost ground and caution grew ahead of a slew of earnings reports this week. Technology sector gains limited losses on the S&P 500…


China denounces Pompeo’s ‘malicious’ Latam comments

SHANGHAI: Chinese state media sharply criticised US Secretary of State Mike Pompeo yesterday after he made comments in Latin America warning about the hidden risks of seeking Chinese investment amid a growing battle for influence in the region. Pompeo was on a Latin America tour at the end of last week, meeting heads of state […]


New trade pact leaves most US industry at mercy of Mexico

NEW YORK/MEXICO CITY: The new North American trade agreement ends key legal protections for many US businesses operating in Mexico, leaving their operations exposed to a risk they had avoided under the old trade deal: Mexico’s court system. For thousands of US firms, the change could add complications and uncertainty to doing business south of […]


New trade pact leaves most US industry at mercy of Mexico’s courts

NEW YORK, Oct 22 — The new North American trade agreement ends key legal protections for many US businesses operating in Mexico, leaving their operations exposed to a risk they had avoided under the old trade deal: Mexico’s court system. For…


BoE reiterates confidence in preparations for the Brexit

Fundamental outlook THE Bank of England (BoE) reiterated its confidence its preparations against the impact of the Brexit. US building permit and existing home sales recorded a decline. China maintained that its GDP growth is still on track. US building permit rose 1.24 million in September, lower than the revised 1.24 million gains recorded in […]


Europe, Asia back free trade in face of Trump’s ‘America first’

BRUSSELS, Oct 20 — More than 50 European and Asian leaders backed free trade and the fight against climate change yesterday in a veiled swipe at US President Donald Trump and his increasingly protectionist approach. As disputes fester with…


US asks for WTO panel over metals tariff retaliation

WASHINGTON/OSLO: The United States is requesting that a World Trade Organisation dispute resolution panel get involved in a clash over international retaliation over US tariffs on steel and aluminium, according to a US official familiar with the matter. The requests, filed on Thursday, cover tariffs by China, the European Union, Canada and Mexico, which followed […]


Merkel calls for free trade as EU, Asia meet

BRUSSELS, Oct 19 — German Chancellor Angela Merkel issued a rallying call for free trade today as EU and Asian leaders met to unite in defiance of US President Donald Trump’s “America first” approach. As disputes fester with Washington, the…


Volvo lorry sales keep on truckin’ in US

STOCKHOLM, Oct 19 — With the US economy continuing to fire on all pistons sales by Swedish lorry maker Volvo Group rose by nearly a third in North America in the latest quarter. With overall sales up by a fifth, Volvo Group’s net profit leapt by…