MONEY

Shanghai Composite: surges on hopes of market support

Shanghai Composite: surges on hopes of market support

One of China’s leading stock indexes has seen its highest daily spike in more than two years following signs that the government will step in to support battered equity markets. The Shanghai Composite closed up 4.1%, its biggest one-day rise since March 2016. The moves extend a rally that began on Friday and after investor […]

Jamal Khashoggi: Branson halts $1bn Saudi investment talks

Jamal Khashoggi: Branson halts $1bn Saudi investment talks

Sir Richard Branson has halted talks over $1bn Saudi investment in Virgin space firms after the disappearance of Saudi journalist Jamal Khashoggi. Sir Richard has also suspended directorships in two tourism projects. Mr Khashoggi, a noted critic of the Saudi government, disappeared when visiting the Saudi consulate in Istanbul last week. Turkish police told US […]

Elon Musk sued for libel by British Thai cave rescuer

Elon Musk sued for libel by British Thai cave rescuer

A British cave diver is suing tech billionaire Elon Musk for defamation after his repeated claims the diver is a child abuser. Vernon Unsworth helped with the rescue of 12 Thai teenagers from a flooded cave in July. Mr Musk has made several accusations against Mr Unsworth without evidence, including that he was a “child […]

Argentina imposes austerity measures in bid to stabilise peso

Argentina imposes austerity measures in bid to stabilise peso

Argentina has announced austerity measures in a bid to tackle the “emergency” created by the country’s currency crisis. In a televised address, President Mauricio Macri said Argentina could not keep spending more than it earned. Taxes on exports of some grains and other products will rise and “about half” of the nation’s government ministries will […]

US-China trade war: China to respond ‘resolutely’

US-China trade war: China to respond ‘resolutely’

China will continue to hit back against the US if more tariffs are imposed, the country’s finance minster has said. In an interview with Reuters, Liu Kun said China would respond “resolutely” to the “unreasonable” US measures. On Thursday, the US imposed a second wave of tariffs on Chinese goodsworth $16bn (£12.4bn), and China immediately responded […]

PepsiCo buys Sodastream for $3.2bn

PepsiCo buys Sodastream for $3.2bn

PepsiCo has announced it is buying Sodastream for $3.2bn (£2.5bn). Israel-based Sodastream makes a machine and refillable cylinders allowing users to make their own carbonated drinks. The deal gives Pepsi a new way of reaching customers in their homes at a time when its signature sugary drinks are becoming less popular. It is also the […]

Why is Samsung’s Galaxy S9 flagship struggling?

Why is Samsung’s Galaxy S9 flagship struggling?

It wasn’t what Samsung or its investors were hoping for. The company’s electronics division has just posted a drop in its latest net profit – and it says “lower-than-expected sales” of its flagship Galaxy S9 smartphone were to blame. The handset launched in February to a mixed reception. Critics praised some of its new camera tricks, […]

Trade tensions pose a risk to global growth – G20 ministers

Trade tensions pose a risk to global growth – G20 ministers

The G20 group of finance ministers have said trade tensions could undermine the global economy. They called for greater dialogue to reduce the risk after a tense, two-day meeting in Argentina. The summit comes as the US ramped up trade tensions on Friday, saying it was ready to slap tariffs on all $500bn of imports from […]

Comcast backs down in fight for 21st Century Fox

Comcast backs down in fight for 21st Century Fox

Comcast has abandoned its pursuit of 21st Century Fox’s film and television assets, leaving Disney in pole position as the sole bidder. The US media giant said it will focus on its bid for Sky, which like Fox is controlled by Rupert Murdoch. Disney recently raised its offer for Fox’s entertainment assets to $71bn (£54bn), […]

China trade surplus with US hits record high in June

China trade surplus with US hits record high in June

China’s monthly trade surplus with the US hit a record high of nearly $29bn (£22bn) in June as exports to America remained strong. The figures come a week after the trade war between the two began, with the US imposing tariffs on $34bn of Chinese goods, and China retaliating. This week, Washington threatened to impose 10% […]

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