Business

IMF downgrades outlook for world economy, citing trade wars

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The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis, primarily because of widening global conflicts. The IMF's latest World Economic Outlook released Tuesday foresees a slight rebound in 2020 but warns of… Read

Business

No choice but to invest in oil, Shell CEO says

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Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an interview with Reuters, Ben van Beurden expressed concern that some shareholders could abandon… Read

Business

Struggling WeWork mulls bailout deals with SoftBank, JP Morgan

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Under-pressure start-up WeWork is considering two huge bailout plans including a cash injection that could see Japanese investment titan SoftBank take control of the firm, according to reports. The office-sharing giant had been on course for a massive initial public offering until last month when questions began to be asked… Read

Business

China Sept exports fall 3.2%; imports down 8.5%

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China's exports fell at a faster pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-U.S. trade war drags on. The downbeat data is likely to reinforce expectations that Beijing needs to… Read

Business

Under-pressure Australian banks face fresh inquiry

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Australia on Monday announced the country's consumer watchdog would investigate mortgage pricing after the country's largest banks refused to pass on recent interest rate cuts in full. The central bank's official cash rate has been lowered three times this year amid fears about the flagging domestic economy and now stands… Read

Business

Nissan to start building new Juke car at UK plant as Brexit looms

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Nissan says it will begin making the next-generation Juke vehicle at Britain’s biggest car plant on Monday, just before a possible no-deal Brexit which the industry has warned could bring production to a halt. Nissan decided in 2015, before the 2016 referendum was even held, to make the latest version… Read

Business

Property investors turn to Southeast Asia amid Hong Kong unrest

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From luxury Singapore apartments to Malaysian seafront condos, Hong Kong investors are shifting cash into Southeast Asian property, demoralised by increasingly violent protests as well as the China-U.S. trade war. Millions have taken to the streets during four months of pro-democracy demonstrations in the southern Chinese city, hammering tourism while… Read

Business

Companies welcome U.S.-China trade truce, warn disputes remain

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Companies have welcomed a U.S.-Chinese trade truce as a possible step toward breaking a deadlock in a 15-month-old tariff war, while economists caution there was little progress toward settling core disputes including technology that threaten global growth. President Donald Trump said Washington will suspend a tariff hike planned for Tuesday… Read

Business

Boeing, FAA both faulted in certification of the 737 Max

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A panel of international aviation regulators found that Boeing withheld key information about the 737 Max from pilots and regulators, and the Federal Aviation Administration lacked the expertise to understand an automated flight system implicated in two deadly crashes of Max jets. In its report issued Friday, the panel made… Read

Business

Japanese firms see 'Abenomics' sputtering, tax hike hurting economy: poll

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Japanese companies overwhelmingly think the nation's longest postwar expansion is peaking, with two-thirds expecting a tax hike imposed this month by Prime Minister Shinzo Abe to hurt the economy, a Reuters poll showed on Friday. Almost all the firms in the monthly Reuters Corporate Survey said the world's third-biggest economy… Read

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