EU report to lay out options for dev financing overhaul

A European Union review of how to deploy the bloc’s international lending firepower will be delivered to finance ministers next week, sources have told Reuters, with three options for a major overhaul of its current set-up.
6 October 2019, 18:00 PM

Slight retreat in gold prices adds to festive lure in India

A dip in prices earlier this week fuelled an uptick in physical gold demand in Singapore and India, with activity in the Indian market also gathering pace ahead of key festivals.
6 October 2019, 18:00 PM

BP to make Bernard Looney CEO as climate challenge looms

Bernard Looney, who will replace Bob Dudley as chief executive of BP when he retires next year, faces the tricky task of navigating the energy major through a rising tide of environmentalism and the move to a low-carbon economy.
6 October 2019, 18:00 PM

UAE telecom du sees no evidence of ‘security holes’ in Huawei’s 5G technology

United Arab Emirates (UAE) telecoms company du saw no evidence of security concerns about Huawei’s 5G technology, the company’s chief technological officer Saleem Albalooshi told Reuters on Sunday.
6 October 2019, 18:00 PM

Analysts cut Asian firms’ 2019 profit outlook on trade worries

Analysts have cut their earnings forecasts for Asian firms over the past month due to concerns over US-China trade tariffs and slowing global economic growth, Refinitiv data shows.
6 October 2019, 18:00 PM

SpiceJet could take more of Jet Airways’ 737 MAX planes: chairman

Indian low-cost carrier SpiceJet Ltd may consider taking some of the Boeing 737 MAX planes that were due to be delivered to now bankrupt Jet Airways but are still sitting in Seattle, its chairman said on Friday.
6 October 2019, 18:00 PM

PG&E says it has $34.45b in debt financing for reorganisation

PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion for a planned Chapter 11 bankruptcy reorganisation, countering a group of noteholders that has proposed its own reorganization plan for the California power producer.
6 October 2019, 18:00 PM

India’s services sector contracts in Sept

India’s dominant services sector slipped into contraction in September as new business orders fell for the first time since early 2018, according to a private survey which also found business optimism at its lowest in 2-1/2 years.
6 October 2019, 18:00 PM

China’s yuan to slip to new decade lows as trade war drags on

The Chinese yuan will slip by year-end to deeper lows last hit against the US dollar during the 2008 global financial crisis as the authorities nudge the partly managed currency down while the US-China trade war rumbles on, a Reuters poll showed.
5 October 2019, 18:00 PM

US agency reviews whether 2,000 Teslas should have been recalled

US regulators said on Friday they were reviewing whether Tesla Inc should have recalled 2,000 of its electric cars in May instead of issuing a software upgrade to fix a potential defect that could have resulted in battery fires.
5 October 2019, 18:00 PM

Antitrust probers in Congress ask Spotify to detail alleged Apple abuses

US lawmakers have requested information from Apple critic Spotify as part of an antitrust probe, according to two sources briefed on the investigation into allegations the iPhone maker engages in anti-competitive behavior to support its own apps.
5 October 2019, 18:00 PM

India clampdown hits Kashmir’s Silicon Valley

The coffee machines have been cold, computer screens blank and work stations empty for two months in Kashmir’s Silicon Valley as an Indian communications blockade on the troubled region takes a growing toll on business.
5 October 2019, 18:00 PM

US unemployment rate hits 3.5pc

The US unemployment rate dropped to near a 50-year low of 3.5 percent in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing.
5 October 2019, 18:00 PM

PayPal becomes first member to exit Facebook’s Libra Association

US payments processor PayPal Holdings Inc said on Friday it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group.
5 October 2019, 18:00 PM

Japan’s Uniqlo takes plunge in uncertain Indian retail market

Japanese clothing giant Uniqlo on Friday opened its first store in India, one of its largest worldwide, becoming the latest global retailer to plunge into the huge but tough developing market.
5 October 2019, 18:00 PM

As Fed policymakers comb data, few decisive signals on outlook

Federal Reserve policymakers on Friday signaled they are on high alert for signs that uncertainty over trade policy and slowing global growth are beginning to hold back the broader US economy, but so far they have flagged little in the data that is pointing one way or the other.
5 October 2019, 18:00 PM

Hong Kong’s wealthiest man donates $100m to local businesses

Hong Kong’s wealthiest man will donate more than US$100 million to local businesses, his foundation said Friday, as Asia’s once-calm financial hub was roiled by fresh protests.
5 October 2019, 18:00 PM

Dubai seeks investment to bolster flagging economy

With the highest tower in the world, grand commercial centres and artificial islands, Dubai projects an image of prosperity, even as the city-state races to court investors to bolster a flagging economy.
5 October 2019, 18:00 PM

India makes fifth rate cut, slashes growth forecast

INDIA’S central bank on Friday cut interest rates for the fifth time this year, putting them at a near-decade low, while it also slashed its growth forecasts as authorities struggle to kickstart Asia’s third-largest economy.
5 October 2019, 18:00 PM

US airlines grapple with ‘unfair tax’

US airlines are scrambling to digest a new 10 percent tariff on European-made Airbus planes that threaten additional havoc in a market already reeling from frozen deliveries of Boeing Co’s 737 MAX.
5 October 2019, 18:00 PM