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Stocks down, and Dow drops 600 points, reversing gains from U.S.-China trade truce - Dotemirates
CBS News - Dotemirates
CBS News
04/12/2018

Stocks down, and Dow drops 600 points, reversing gains from U.S.-China trade truce

U.S. stocks tumbled in Tuesday trading, marching back much of the market's gain from the day before when Wall Street celebrated news of a truce in the U.S.-China trade fight.The celebration may have been premature, as experts warned that the two countries remain far apart in ironing out key disputes over tariffs as well as protection of technology secrets and intellectual property. The Dow Jones industrial average sank nearly 600 points, or 2 percent, to 25,245. The S&P 500 and Nasdaq composite indexes also both fell more than 2 percent Losses in banks, technology and industrial stocks outweighed gains elsewhere...

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Deccan Chronicle
13/08/2019

Silver touches all-time high mark of Rs 45,000; gold falls Rs 100

New Delhi: Silver prices on Tuesday soared Rs 2,000 to touch an all-time high mark of Rs 45,000 per kg, while gold declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association. Besides increased offtake by industrial units and coin makers, robust global trend mainly led to the rise in white metal, traders said. "At Rs 45,000, silver has touched its all time-high. Strong overseas trend led to the increase in silver price," Surendra Jain, vice president of All India Sarafa Association said. Globally, gold was trading higher at...
Business
Deccan Chronicle
13/08/2019

Amazon in advanced talks to buy 8-10 per cent stake in Future Retail

New Delhi: American e-commerce giant Amazon is in advanced stage of discussions with Future Retail Ltd for picking up 8-10 per cent stake in the Indian retail chain, according to sources. The deal with the Kishore Biyani-led company is expected to close in the next few weeks, sources close to the development said. When contacted, Amazon India said the company doesn't comment on speculation, while Future Retail declined to comment. The deal, if it goes through, will help Amazon further strengthen its foothold in the Indian market where it already operates an online marketplace. The discussions between the two players...
Business
Deccan Chronicle
13/08/2019

India, Russia to boost ties to achieve USD 30 bn bilateral trade by 2025

New Delhi: India and Russia have called for diversifying and deepening of economic ties in priority sectors to meet the bilateral trade target of USD 30 billion by 2025, the commerce ministry said on Tuesday. This was emphasised upon by Russia's Deputy Prime Minister Yuri Trutnev and Commerce and Industry Minister Piyush Goyal during a business session from August 11-13 in Vladivostok, Russia. A delegation including chief ministers of Haryana, Gujarat, Uttar Pradesh and Goa and about 140 Indian companies was led by Goyal at the session. He urged companies of both countries to discuss partnerships directly and come up...
Business
Arab News
13/08/2019

Saudi Aramco sets share sale stage with $47 billion profit

DUBAI: Saudi Aramco proved itself the most profitable company in history on Monday with financial figures that beat all its competitors by a long way. The Kingdom’s oil giant reported net income of $46.9 billion for the first half of 2019, way ahead of the $31.5 billion reported by the next biggest earner, Apple. Aramco’s profits are nearly 50 percent higher than those of the five largest Western oil companies combined. It was the first time Aramco — a private company owned by the Kingdom — had disclosed its financial strength in a formal results announcement, and followed the unprecedented...
Business
Deccan Chronicle
13/08/2019

Auto sales in India sees sharpest fall 19 yrs in July; 15,000 workers lose jobs

New Delhi: Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months as the sector reels under a prolonged slump, auto industry body SIAM reported on Tuesday. As per data released by the Society of Indian Automobile Manufacturers (SIAM), vehicle sales across categories, including passenger vehicles (PVs) and two-wheelers, stood at 18,25,148 units last month as against 22,45,223 units in July 2018. The previous biggest decline across overall domestic automobile sales was recorded in December 2000 when it fell 21.81 per cent....
Business
BBC
13/08/2019

Swarovski apologises to China for describing Hong Kong as country

Jewellery firm Swarovski has apologised to China for erroneously describing Hong Kong as a country on its website.Several firms have come under scrutiny recently for not adhering to China's territorial claims.Versace apologised at the weekend after an image on one of its T-shirts appeared to imply Hong Kong was an independent territory.It comes at a time of heightened tensions between China and Hong Kong.Mass unrest has rocked Hong Kong for several weeks as demonstrations, first aimed at an extradition bill, have evolved into a pro-democracy movement concerned about China's growing influence in the region. Austrian-owned Swarovski said in a post...
Business