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Modi stacks Indian central bank board with allies to turn heat up on governor

Modi stacks Indian central bank board with allies to turn heat up on governor

Modi’s ruling Bharatiya Janata Party (BJP) is keen to stimulate the economy and sees the RBI’s hawkish stance as a barrier. (AFP pic) NEW DELHI: As Prime Minister Narendra Modi’s government turns up the heat on the Reserve Bank of India (RBI) governor to do its bidding ahead of next year’s general election it is […]

November 18, 2018 | By | Reply More
APEC’s future in doubt after costly summit failure

APEC’s future in doubt after costly summit failure

For the first time ever, the leaders failed to produce a joint summit declaration. (AFP pic) PORT MORESBY: With Donald Trump and Vladimir Putin absent and leaders unable even to agree on a joint statement, some critics are questioning whether the annual APEC summit is still worth the effort. “Expectations are low and probably won’t […]

November 18, 2018 | By | Reply More
EU set to tighten rules on foreign investment to fend off China

EU set to tighten rules on foreign investment to fend off China

European Union (EU) flags fly outside the headquarters of the European Commission, in Brussels, Belgium. (Bloomberg pic) STRASBOURG: The European Union is hammering out the first bloc-wide rules to prevent foreign investments from threatening national security, as Chinese acquisitions foster political unease. Negotiators representing EU governments and the European Parliament may agree on draft legislation […]

November 18, 2018 | By | Reply More
JPMorgan says tech, oil and high-yield are catchups not canaries

JPMorgan says tech, oil and high-yield are catchups not canaries

Signage is displayed at a JPMorgan Chase & Co. bank branch. (Bloomberg pic) NEW YORK: Technology stocks, oil and US high-yield credit haven’t been having the best of times. But according to JPMorgan Chase & Co., these aren’t worst of times either. “The high-volatility declines in technology stocks, oil and US high-yield credit this month […]

November 18, 2018 | By | Reply More
Pence-Xi showdown at Apec shows US-China divide only widening

Pence-Xi showdown at Apec shows US-China divide only widening

US Vice President Mike Pence. (Bloomberg pic) WASHINGTON: US Vice President Mike Pence traded sharp barbs with Chinese leader Xi Jinping in back-to-back speeches at a regional summit, showing that neither country appears to be giving ground in an escalating trade war. Xi received applause Saturday when he told the Asia-Pacific Economic Cooperation summit in […]

November 18, 2018 | By | Reply More
US seeks to counter China with Papua New Guinea power grid

US seeks to counter China with Papua New Guinea power grid

The US has been increasingly critical of China-backed infrastructure projects, saying many aren’t properly planned, financially sustainable and of questionable use. (Bloomberg pic) TOKYO: The US and its key Pacific allies on Sunday announced plans to build a US$1.7 billion electricity grid in Papua New Guinea, in the latest effort to counter China’s growing influence […]

November 18, 2018 | By | Reply More
Passive investing makes for end-of-day whirlwinds on Wall Street

Passive investing makes for end-of-day whirlwinds on Wall Street

With their rise, such funds have had a “gravitational effect,” with volume swelling around them. (AFP pic) NEW YORK: The rise of passive investing on Wall Street has concentrated stock market action in the final moments of the trading day — exacerbating steep, last-minute nosedives in stock values with increasing frequency. Analysts say the trend […]

November 18, 2018 | By | Reply More
At what cost? Debate swirls on ‘giveaways’ after Amazon HQ deal

At what cost? Debate swirls on ‘giveaways’ after Amazon HQ deal

Officials in both communities welcomed what they said would be a major economic boost from Amazon in creating jobs, new facilities and infrastructure, and that the plans would be positive for public coffers. (Bloomberg pic) WASHINGTON: As the winners of the biggest corporate prize in decades — the new Amazon headquarters — relished their victory, […]

November 18, 2018 | By | Reply More
J. Crew CEO James Brett steps down after 16 months in role

J. Crew CEO James Brett steps down after 16 months in role

Under Brett, the retailer posted positive comparable sales for two straight quarters after years of declines. (Bloomberg pic) NEW YORK: J. Crew Group Inc. CEO James Brett is stepping down after reaching an agreement with the clothing store chain’s board of directors, the company announced. His tenure as chief executive was brief. He replaced Mickey Drexler […]

November 18, 2018 | By | Reply More
Musk: SpaceX not planning to reuse Falcon 9, aims to speed ‘BFR’

Musk: SpaceX not planning to reuse Falcon 9, aims to speed ‘BFR’

SpaceX’s Falcon 9 rocket and Dragon spacecraft lift off from Launch Complex 40 at the Cape Canaveral Air Force Station in Florida, Sept 21, 2014. (Bloomberg pic) NEW YORK: “SpaceX is no longer planning to upgrade Falcon 9 second stage for reusability,” Tesla’s Elon Musk said in a tweet Saturday. Musk says he’s accelerating the […]

November 17, 2018 | By | Reply More