LONDON (Reuters) - Global stock markets and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world’s second-largest economy and sparked fears of a sharper slowdown in global growth. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville Data from China showed imports fell 7.6 percent year-on-year in December while analysts had predicted a 5 percent rise. Exports dropped 4.4 percent, confounding expectations for a 3 percent gain. For an interactive version of the following chart, click here tmsnrt.rs/2SRopIf. The data reinforced fears U.S. tariffs on Chinese goods were starting to hit China’s cooling economy, while softening demand has been felt around the world with sales of goods ranging from iPhones to automobiles slowing, prompting profit warnings from Apple among others. Adding to the gloom were weak industrial output … [Read more...] about China trade shock hits global stocks, commodities
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SINGAPORE/HONG KONG (Reuters) - Citigroup Inc <C.N> has agreed to sell its stake in its Citi Orient Securities joint venture to its Chinese partner, paving the way for the U.S. bank to set up its own brokerage in the world's second-largest economy. In December, Citigroup Global Markets Asia Ltd informed Orient Securities Co <600958.SS> <3958.HK> that the bank intended to sell all of its shareholding, the Chinese company said in an exchange filing on Tuesday. Orient said its board gave the green light for the acquisition of Citi's stake, adding that the deal will be subject to approval from China's securities regulator and state asset regulator. The transaction paves the way for Citi to set up a majority-owned securities joint venture in China, and a person familiar with the matter said that the bank was expected to finalise a new partner for that by end of the year. "On the back of recent regulatory changes, Citi wants to pursue ownership of a domestic JV with a … [Read more...] about Citigroup to end Chinese securities JV to set up majority-owned venture
By Georgi Kantchev The Wall Street Journal Mike Bird Mon., Dec. 3, 2018 U.S. stocks were poised to open sharply higher on Monday and global markets rallied after a cease-fire in the trade spat between the U.S. and China boosted investor sentiment following a rocky stretch for risk assets. Futures pointed to opening gains of 1.5% for the S&P 500 and 1.8% for the Dow Jones Industrial Average. In Europe, the Stoxx Europe 600 rose 1.3%, led by gains in autos and resources stocks. Asian markets finished sharply higher and the Chinese yuan gained against the dollar. Oil prices also climbed sharply, with Brent crude, the global price benchmark, jumping 3.7% to $61.62 (U.S.) a barrel after Russia and Saudi Arabia agreed to extend efforts by the Organization of the Petroleum Exporting Countries to curb production and Canada’s oil-rich province of Alberta also ordered a limit on output. On the trade front, President Trump and Chinese President Xi Jinping … [Read more...] about Global markets rally after Trump-Xi cease-fire eases trade worries
Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement DealBook Supported by Oct. 12, 2018 Good Friday morning. Thasunda Duckett of JPMorgan Chase, Nancy Dubuc of Vice Media, Damien Hooper-Campbell of eBay and John Hope Bryant of Operation Hope will all be speaking at our “Playing for the Long Term” conference on Nov. 1 at Jazz at Lincoln Center in Manhattan. Register to attend . (Was this email forwarded to you? Sign up here .) A glimmer of hope after another day of market declines Wall Street tumbled again on Thursday. Broad selling left every sector of the S. &P. 500 down, with the index falling 2.1 percent. That followed Wednesday’s 3.3 percent loss, which was the bench mark’s biggest decline in eight months. As DealBook’s Peter Eavis pointed out, the plunge seems out of sync with the strong economy. But the good news, he … [Read more...] about DealBook Briefing: Will U.S. Markets Stop Plunging?
Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement DealBook Supported by Oct. 4, 2018 Good Thursday morning. (Was this email forwarded to you? Sign up here .) Here’s this year’s lineup This morning, we’re announcing some of the speakers for our seventh annual “Playing for the Long Term” conference, which will take place on Nov. 1 at Jazz at Lincoln Center in Manhattan. You can register to participate here. Andrew will host a series of conversations with some of the biggest newsmakers at the intersection of business and policy. Among them: • Sundar Pichai of Google • Lloyd Blankfein of Goldman Sachs • Lachlan Murdoch of Fox • Ken Frazier of Merck • Mary Barra of General Motors • Peter Thiel of Palantir and Founders Fund (he’s also a director at Facebook) • Evan Spiegel of Snap • … [Read more...] about DealBook Briefing: Meet Our 2018 Conference Speakers