U.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies. Ross will visit China from June 2 to June 4, the official Xinhua news agency reported on Friday, adding that Vice Premier Liu He, China’s chief negotiator in the […]
Read moreAthleisure manufacturer Lululemon reports quarterly earnings next Thursday, and the options market is implying a relatively tame move on earnings after a mammoth run in recent months. Shares of Lululemon, up 118 percent in one year and 35 percent in 2018, is among a number of specialty retailers on a tear this year. Shares of […]
Read moreGold prices just had their best day in more than a month as renewed tensions with North Korea pushed investors into less risky assets. Trying times call for the safety trade, says one market watcher. “It makes sense to hold it as a pure play because of all the geopolitical risk that’s out there. It’s […]
Read moreThe Meghan Markle effect has spread to yellow gold jewelry, helping boost United States sales in the first quarter of 2018 with further gains expected, jewelers said. The first three months of the year were the strongest first quarter for gold jewelry demand in the United States since 2009, according to the World Gold Council. […]
Read moreSeveral major U.S. media websites were blocked to Europeans on Friday as the European Union’s new data protection law kicked in. The websites of the Los Angeles Times, Chicago Tribune, New York Daily News and other publications owned by Tronc were down, showing the message: “Unfortunately, our website is currently unavailable in most European countries. […]
Read moreChina’s top social media app WeChat has removed “sugar daddy” dating website SeekingArrangement from its platform, after a recent surge in the popularity of the U.S.-founded service attracted scrutiny from state media. A money-for-love dating platform, launched in the United States in 2006, SeekingArrangement puts young women in touch with rich older men. “At SA, […]
Read moreAutodesk forecast second-quarter profit on Thursday below Wall Street expectations, sending the AutoCAD software maker’s shares down nearly 4 percent in extended trading. The company’s forecast overshadowed a beat on both first-quarter revenue and profit. Autodesk forecast second-quarter adjusted profit between 13 cents and 16 cents per share. Analysts on average were expecting a profit […]
Read moreCurrency, United States Finance
Turkey's leadership scrambles to regain investor confidence in its monetary policy
Turkey may have made a long overdue move to raise interest rates in an attempt to rescue its plummeting national currency, but investors are still in doubt over the independence of its central bank ahead of national elections in June. On Friday, aiming to allay market fears over its monetary policy and rising inflation, Turkish […]
Read moreThe CEO of Italy’s largest utility firm says he’s been left stunned by the tactics deployed by Spain’s Iberdrola, amid a bitter feud over Brazil’s largest power distributor. Europe’s top two utilities, Enel and Iberdrola, are in the midst of a fierce battle to secure the assets of Brazil’s Electropaulo. The South American grid operator […]
Read moreRussian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the U.S. government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing his stake in En+, the group which […]
Read more