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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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ABC News.AU
17/04/2019

Tesla CEO Elon Musk's massive gamble on China could be thwarted by local rivals

By China correspondent Bill Birtles in Shanghai Even by Elon Musk's standards, his Shanghai plan is ambitious: take 86 hectares of muddy farmland on the outskirts of the city's peninsula and start rolling out Chinese-made Tesla Model 3s within a year.Few industry insiders believe such a time frame from turning the first sod to delivering the first car is realistic, but there are few entrepreneurs like Elon Musk."China does not have a man like Musk," said Jia Xinguang, a veteran Beijing-based auto-analyst."It's quite surprising how quickly his company is developing here," he said. Elon Musk is not saying exactly how...
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BBC
17/04/2019

Climate change: Central banks warn of financial risks in open letter

The heads of two major central banks have written a stark warning about the financial risks of climate change.Bank of England governor Mark Carney and France's François Villeroy de Galhau set out the dangers to the global economy in an open letter."If some companies and industries fail to adjust to this new world, they will fail to exist," they wrote.The letter was co-signed by the chair of the climate-focused Network for Greening the Financial System (NGFS).The NGFS is a coalition of 34 central banks which was formed in 2017, with the Bank of England as a founding member. It released...
Business
Gulf Business
17/04/2019

UAE’s Air Arabia becomes first regional airline to add A321neo LR to its fleet

UAE’s Air Arabia becomes first regional airline to add A321neo LR to its fleet Aarti Nagraj Monday 15 April 2019Sharjah-based low-cost carrier Air Arabia has received its first Airbus A321neo Long Range (LR) aircraft, it announced on Monday.The aircraft flew nonstop from Airbus’s facility in Hamburg to Sharjah International Airport.Air Arabia is the first Middle Eastern airline to operate the A321neo LR and the delivery is the first of six aircraft that will join its fleet.“The addition of the A321neo LR will enable Air Arabia to expand to new medium-haul markets in addition to strengthening the existing routes with increased...
UAE
Khaleej Times
17/04/2019

Emirates celebrates Easter with special meals

Emirates is introducing seasonal treats to celebrate Easter on board and in select airport lounges worldwide. The Easter menu will be available to customers in all cabin classes from April 19-23 when travelling from Dubai to destinations in Europe, Australia, New Zealand, USA, Argentina, Brazil, South Africa, Ghana, and the Philippines. Emirates will also observe Orthodox Easter with special menus for customers travelling on flights from Dubai to Russia and Greece on April 28. On board, customers can look forward to handmade Easter buns using Emirates' signature recipe with spiced dough and orange peel, sultanas and currants; and children will...
Business
Arab News
17/04/2019

Five million lost jobs in India between 2016 and 2018

NEW DELHI: At least five million Indians lost their jobs between 2016 and 2018, and young urban men are being hit hardest, a Bengaluru-based private university said in a report on Tuesday.The report by the Azim Premji University comes as Indians are voting in a staggered general election, which is due to end on May 19, with Prime Minister Narendra Modi’s government keen to defend its economic record, including on jobs.“In addition to rising open unemployment among the higher educated, the less educated (and likely informal) workers have also seen job losses and reduced work opportunities since 2016,” said Amit...
Business
Arab News
17/04/2019

Palestinian economy in ‘crisis’ over Israel standoff: World Bank

JERUSALEM: The World Bank warned Wednesday of a deepening economic crisis in the occupied West Bank if the Palestinian Authority and Israel do not resolve a dispute over tax transfers.Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through its ports, and then transfers the money to the PA.In February, Israel decided to deduct around $10 million a month from the revenues — the sum the PA paid families of prisoners or prisoners themselves serving time in Israeli jails — prompting the Palestinians to refuse any funds at all.Israel sees...
Business