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Dow, S&P higher on trade talk optimism, Nasdaq slips on tech weakness

NEW YORK, Aug 20 — The S&P 500 and Dow Industrials rose today on optimism around the upcoming Sino-US trade talks, but the Nasdaq fell as technology stocks retreated. The planned lower-level trade talks between the United States and China…


PepsiCo puts fizz into healthy drinks with US$3.2b SodaStream deal

LONDON, Aug 20 — PepsiCo will buy carbonated drink-machine maker SodaStream for US$3.2 billion (RM13.1 billion) as it battles Coca-Cola for an edge in the health-conscious beverage market. Founded in Britain in 1903, SodaStream was a coveted…


Chinese internet stock sell-off may shake faith in FANGs

An investor looks at an electronic board showing stock information at a brokerage house in Shenyang, Liaoning province August 16, 2013. Major brokerage Everbright Securities Co Ltd said in a filing to the Shanghai Stock Exchange that its trading system encountered problems Friday morning, following a dramatic 5 percent spike in domestic stock indexes that many suspected was the byproduct of a trading error. REUTERS/Stringer (CHINA - Tags: BUSINESS)

SAN FRANCISCO, Aug 20 — A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s near-decade long rally may be low on fuel….


Wall St rises on upbeat trade news

NEW YORK, Aug 18 — US stocks closed higher , with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners…


Uber narrows loss but is a long way from finding profit

SAN FRANCISCO: Uber Technologies Inc said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019. Under the leadership of Dara Khosrowshahi, who became chief executive in September, Uber has […]


Tesla shares fall on reports of SEC subpoena

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NEW YORK, Aug 16 — Shares of Tesla fell yesterday following reports US securities regulators have subpoenaed the electric car maker’s chief executive Elon Musk over his statements about taking the company private. Shares finished down 2.6 per…


New Zealand passes ban on foreign homebuyers into law

WELLINGTON: New Zealand’s parliament passed a law yesterday to ban many non-resident foreigners from buying existing homes, completing the Labour-led government’s election campaign pledge. Jacinda Ardern, New Zealand’s popular 38-year-old prime minister, campaigned before September’s election on a promise to clamp down on house price growth and reduce high rates of homelessness, in part by […]


Wall St dragged down by fall out from Turkey's plunging lira

NEW YORK, Aug 14 — US stocks dropped yesterday as global jitters from Turkey's plummeting currency spread to Wall Street, with the S&P 500 and the Dow falling for the fourth session in a row. Financial stocks bore the brunt of Turkey contagion…


Turkey's collapse sinks emerging markets on ‘Manic Monday’

LONDON, Aug 14 — Turkey’s market carnage rippled across emerging markets, sending both stocks and currencies to their lowest levels in a year. The lira led losses among global peers after the nation’s first steps to bolster the financial…


Empty shipyard and suicides as Hyundai Town grapples with grim future

ULSAN, Aug 13 — When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea’s annual average salary. But the…