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Trump says Phase 1 China trade pact on track for November

WASHINGTON, Oct 22 — US President Donald Trump yesterday said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month. Trump remains upbeat on the chances Beijing and Washington will…


World stocks climb on hopes for progress in trade; sterling edges up

NEW YORK, Oct 21 — Shares on world stock indexes mostly rose today, as hopes for resolving the US-China trade war pushed investors toward riskier assets, while the pound was near a 5-1/2-month high. The British parliament’s speaker refused to…


Dollar skids as Brexit optimism lifts pound and euro

NEW YORK, Oct 21 — The dollar was crawling toward its worst month since January 2018 today as intermittent waves of Brexit optimism pushed the pound to a 5-1/2 month high and kept the euro’s bumper October intact. Although Prime Minister Boris…


Boeing may face billions more in losses as MAX crisis deepens, say analysts

NEW YORK, Oct 21 — Boeing Co may have to book billions of dollars in additional charges, two brokerages said today, following latest developments around the planemaker’s grounded 737 MAX jet that calls into question the timing of the…


Credit Suisse: Rich Chinese outnumber wealthy Americans for first time

ZURICH, Oct 21 — The number of rich Chinese has surpassed the count of wealthy Americans for the first time as both countries keep churning out millionaires, a study by Credit Suisse showed. The Swiss bank’s annual wealth survey released today…


Wall Street learns the high cost of sexist comments

NEW YORK, Oct 21 — The #MeToo movement recently reached dramatically into the world of high finance, as one prominent Wall Street figure learned after losing the management of at least US$1 billion in assets over his disparaging remarks about…


AirAsia sees inflight Wi-Fi as next income source

KUALA LUMPUR, Oct 20 — AirAsia has been exemplary in using digital and disruptive technologies in increasing its ancillary income, including the introduction of inflight Wi-Fi, which is expected to create a US$130 billion (RM544.2 billion) global…


China’s central banker says yuan level ‘appropriate’, trade tensions risk to global economy

WASHINGTON, Oct 20 — China’s top central banker said yesterday that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China’s yuan at an…


IMF chief says building ‘peer pressure’ to follow trade rules

WASHINGTON, Oct 20 — With trade tensions undermining confidence and global growth, economic leaders are increasingly pushing each other to fix the shortcomings that fueled the disputes, IMF chief Kristalina Georgieva said yesterday. As the United…


At IMF, US urges action to spur global economy; avoids talk of trade war

WASHINGTON, Oct 19 — Washington called yesterday for action from other major world powers to spur economic growth, avoiding mention of the US-China trade war and blaming the current global slowdown on excess savings, flagging investment in China…