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font size Foxconn is known for assembling iPhones and is a major supplier to Apple. AFP via Getty Images Foxconn And which makes apple iPhones posted a decline in profits in the second quarter, but managed to beat expectations. Foxconn (Ticker: 2317.Taiwan), formally known as Hon Hai Precision Industry, said profits fell 1% in the … Read more
font size US Steel rejected an unsolicited buyout offer from rival Cleveland Cliffs. Sean Gallup / Getty Images Stock futures rose on Monday as markets faltered in August, adding to this year’s rally. The focus on Wall Street this week will be the minutes of the Federal Reserve’s latest policy meeting and earnings reports from … Read more
BEIJING (AP) – Asian stock markets fell on Monday after robust inflation in the United States revived fears that the Federal Reserve could raise interest rates again. Hong Kong’s main market index fell 2.4%. Shanghai, Tokyo and Sydney also fell behind. Oil prices sank. Wall Street’s benchmark S&P 500 fell 0.1% on Friday after government … Read more
(Bloomberg) — A crisis is brewing at Country Garden Holdings, formerly the largest Chinese developer, after units halted trading on domestic bonds and stocks plunged in the wake of a Morgan Stanley downgrade. Most Read from Bloomberg The developer, whose problems threaten worse repercussions than struggling peer China Evergrande Group given it has four times … Read more
(Bloomberg) — A Chinese stock index is close to erasing all the gains it made since a key political meeting in late July, as the economy struggles to gain momentum and optimism about stimulus wanes. Most Read from Bloomberg The CSI 300 Index is down 1.3% as of the midday break after falling 3.4% last … Read more
BEIJING (AP) – Asian stock markets fell on Monday after mixed US economic data revived fears that the Federal Reserve could raise interest rates again. Hong Kong’s main market index fell 2.3% and Shanghai, Tokyo and Sydney also fell. Oil prices fell. Wall Street’s benchmark S&P 500 fell 0.1% on Friday after government data showed … Read more
(Bloomberg) — Chinese stock selling deepened Monday as a slump in the country’s real estate dampened market sentiment while weak economic data weighed on the yuan. Most Read from Bloomberg A gauge of Asian stocks is set for its lowest close since June as stocks fell across the region. Stocks fell in mainland China while … Read more
by Selina Lee HONG KONG (Reuters) – U.S. bank Citigroup said on Monday it had completed the sale and relocation of its consumer business in Taiwan to Singapore’s DBS Group. The retail businesses that have been relocated now include the retail banking, credit card, mortgage and unsecured lending businesses, as well as the relocation of … Read more
Dow Jones futures fell Sunday night, along with S&P 500 futures and Nasdaq futures. Tesla (TSLA) lowered the prices of the models in China while US Steel rejected a purchase offer. X The stock market rally had a mixed week, but action was negative overall, with renewed Treasury yields and mixed earnings weighing on growth. … Read more
(Bloomberg) — U.S. Steel rejected a takeover bid from rival Cleveland-Cliffs Inc. which promised to create one of the world’s largest steelmakers, and would begin to review its strategic options instead. Most Read from Bloomberg US Steel, an American industry icon with roots dating back more than a century, on Sunday announced a formal process … Read more