Excess global debt is a major concern for J.P. Morgan‘s international chairman. Speaking at the World Economic Forum in Davos, Jacob Frenkel said: “My main concern is problems arise, always, when you are overly optimistic (and) when you take too much debt.” “This was the main lessons from all the […]
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Stripe is giving up on bitcoin as a payment method
Stripe, which four years ago said it would become the first major online payments platform to accept bitcoin for payments, is ditching the idea. The company said Tuesday that the cryptocurrency had almost become a victim of its own popularity — the time needed to complete a transaction has increased, […]
A weaker dollar is good for the US, Treasury Secretary Mnuchin says
Treasury Secretary Steven Mnuchin said the U.S. is open for business and welcomed a weaker dollar, saying that it would benefit the country. Speaking at a press conference at the World Economic Forum in Davos Wednesday, he made a bid for investment into the U.S., saying the government was committed […]
US Commerce Secretary Ross concedes “potential for retribution and retaliation” from China following recent US tariffs
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The Latest: Mnuchin says US committed to free trade
DAVOS, Switzerland – The Latest on the World Economic Forum in Davos (all times local): Continue Reading Below 9:45 a.m. U.S. Treasury Secretary Steven Mnuchin says his country is “absolutely” committed to free and fair trade, two days after President Donald Trump signed off on new tariffs on imported solar-energy […]
Japan Airlines chief, credited with helping steer recovery, to step down
Japan Transocean Air (JTA), Japan Airlines (JAL) group, Boeing 737-400 painted in special livery takes off from the Tokyo International Airport, commonly known as Haneda Airport, in Tokyo, Japan January 10, 2018. REUTERS/Toru Hanai January 24, 2018 TOKYO (Reuters) – Japan Airlines Co <9201.T> (JAL) said President Yoshiharu Ueki, who […]
Philippine police to wear body cameras in war on drugs
FILE PHOTO: Philippine National Police (PNP) Director General Ronald Dela Rosa gestures during a news conference at the PNP headquarters in Quezon city, Metro Manila, Philippines January 23, 2017. REUTERS/Czar Dancel/File Photo January 24, 2018 MANILA (Reuters) – Philippine police will soon have to wear body cameras during anti-narcotics operations […]
Exclusive: China’s state-owned firms to face more mergers, bankruptcies
FILE PHOTO: Chinese national flags flutter near a steel factory in Wu’an, Hebei province, China, February 23, 2017. REUTERS/Thomas Peter/File Photo January 24, 2018 By Soyoung Kim and Paritosh Bansal DAVOS, Switzerland (Reuters) – China’s state-owned enterprises will face more mergers and bankruptcies as the government overhauls the lumbering state […]
US Treasury Secretary Mnuchin says US ‘absolutely’ believes in free and fair trade
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Saudi Aramco will list in Hong Kong eventually, says the city’s stock exchange chief
The potential to reach the vast Chinese investing public will eventually bring Saudi Aramco to list in Hong Kong, even if the oil giant skips over the special administrative region for its first public offering, said Charles Li, chief executive of Hong Kong Exchanges and Clearing. “A deal in Hong […]