As investors come to terms with the impending end of easy monetary policy, a new threat looms: The heavy supply of U.S. Treasurys could bump up bond yields and place greater pressure on stock prices. Stock markets globally came under heavy selling earlier this month after signs of higher inflation […]
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The world’s fourth largest iron ore producer wants to drive production costs even lower
After its production costs hit a record low in the last quarter, Fortescue Metals wants to drive costs even lower this financial year, according to the CEO of the Australian iron ore producer. Speaking to CNBC on “Street Signs,” Elizabeth Gaines, CEO of Fortescue Metals, talked about the strategies that […]
The job is not over: Europe’s largest bank on efforts to strengthen its business
After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment […]
Final version of mega Pacific trade deal dumps rules the US wanted
The final version of a landmark deal aimed at cutting trade barriers in some of the Asia-Pacific’s fastest-growing economies was released on Wednesday, signalling the pact was a step closer to reality even without its star member the United States. More than 20 provisions have been suspended or changed in […]
General Motors is proposing a $2.8 billion investment to save its ailing South Korean unit
General Motors (GM) has proposed a $2.8 billion fresh investment in South Korea over the next 10 years as part of its plan to restructure its embattled Korean unit, according to a South Korean senior government official. The official with direct knowledge of the matter added that the U.S. car […]
Donald Trump Jr. praises ‘spirit of the Indian people,’ looks forward to signing new deals
One key element distinguishes the world’s largest democracy from other emerging markets, according to Donald Trump Jr., the American president’s eldest son. “Honestly for me, there’s something about the spirit of the Indian people that’s unique here to other parts of the emerging world,” he told CNBC’s Indian partner TV18 […]
Asia markets carve out slight gains as dollar steadies; BHP falls 5%
Asian markets were relatively subdued early on Wednesday. Regional indexes notched slight gains despite the softer lead stateside, with more convincing gains seen in Taiwan. Japan’s benchmark Nikkei 225 index gained 0.36 percent after falling more than 1 percent in the last session. Manufacturing stocks traded slightly higher early on, […]
Asia markets mixed amid choppy trade as dollar steadies
Asian markets were mixed on Wednesday, with choppy trade seen in Japan and South Korea as stock indexes hovered around the flat line. More convincing gains were seen in Taiwan and Hong Kong markets. Japan’s benchmark Nikkei 225 index shed 0.13 percent after giving up gains seen earlier after choppy […]
Secret meeting between Pence and North Koreans was canceled abruptly
A secret meeting between Vice President Mike Pence and North Korean leaders at the Olympics was canceled abruptly earlier this month, The Washington Post reported Tuesday. The Post said Pence, who led the U.S. delegation at the opening ceremonies to the Olympics Feb. 9, “agreed to a secret meeting” at […]
Secret meeting between Pence and North Koreans was cancelled abruptly
A secret meeting between Vice President Mike Pence and North Korean leaders at the Olympics was cancelled abruptly earlier this month, The Washington Post reported Tuesday. The Post said Pence, who led the U.S. delegation at the opening ceremonies to the Olympics Feb. 9, “agreed to a secret meeting” at […]