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Health shares prop up Wall Street as banks dip ahead of expected rate hike

Health stocks helped Wall Street edge higher on Wednesday, although banks slipped ahead of a widely expected interest rate hike by the U.S. Federal Reserve.

Source: Reuters: Business News | 27 Sep 2018 | 2:38 am(NZT)

U.S. new home sales rebound in August, but trend softening

Sales of new U.S. single-family homes rebounded in August after two straight monthly declines, but the underlying trend still pointed to a weakening housing market against the backdrop of rising mortgage rates and higher home prices.

Source: Reuters: Business News | 27 Sep 2018 | 2:34 am(NZT)

Rupert Murdoch's Fox to sell Sky stake to Comcast

Rupert Murdoch's Fox said on Wednesday it would sell its 39 percent stake in Sky to Comcast , the U.S cable giant that outbid it in an auction to take control of the European pay-TV group on Saturday.

Source: Reuters: Business News | 27 Sep 2018 | 2:33 am(NZT)

Exclusive: With six months to go before Brexit, 630 finance jobs have left - Reuters survey

As few as 630 UK-based finance jobs have been shifted or created overseas with just six months to go before Brexit, a far lower total than banks said could move after Britain's surprise vote to leave the European Union, according to a new Reuters survey.

Source: Reuters: Business News | 27 Sep 2018 | 2:27 am(NZT)

Ford expands partnership talks with VW and Mahindra to cut costs

With its stock trading near a 6-year low late last month, Ford Motor Co CEO Jim Hackett gathered the automaker's top 300 executives near its headquarters in Michigan for a global leadership meeting.

Source: Reuters: Business News | 27 Sep 2018 | 2:26 am(NZT)

Ford CEO says metal tariffs cost company $1 billion

Ford Motor Co Chief Executive Officer James Hackett said on Wednesday that metal tariffs cost the carmaker $1 billion.

Source: Reuters: Business News | 27 Sep 2018 | 2:26 am(NZT)

UK faces permanent debate over financial rules after Brexit: lawmaker

Britain faces a permanent debate over whether to copy or diverge from European Union financial rules after Brexit, a top UK lawmaker said on Wednesday in comments likely to prolong uncertainty for banks.

Source: Reuters: Business News | 27 Sep 2018 | 2:25 am(NZT)

Boohoo sales boost after summer of cycling shorts

Sales have more than doubled at Boohoo brands PrettyLittleThing and NastyGal after a resurgence of 90s trends.

Source: BBC News - Business | 27 Sep 2018 | 1:30 am(NZT)

SurveyMonkey Goes Public, and Demand Is High: What to Watch Today

The parent company of the online pollster priced its initial public offering above expectations. Expect Wall Street investors to want a piece.

Source: NYT > Business Day | 27 Sep 2018 | 1:07 am(NZT)

Cheaper Battery Is Unveiled as a Step to a Carbon-Free Grid

The entrepreneur Patrick Soon-Shiong says his company’s tests of zinc-based storage for solar and wind energy show the potential for large-scale use.

Source: NYT > Business Day | 27 Sep 2018 | 12:00 am(NZT)

Mercedes-Benz owner Daimler gets first non-German boss

Dieter Zetsche will be replaced by Ola Kaellenius, a Swede who runs Daimler's research division.

Source: BBC News - Business | 26 Sep 2018 | 11:48 pm(NZT)

'Distracted boyfriend' advert ruled sexist

A Swedish company broke gender discrimination rules by using a popular meme in an advert.

Source: BBC News - Business | 26 Sep 2018 | 11:40 pm(NZT)

Barclays admits PPI compensation error

Barclays has apologised for giving wrong information to tens of thousands of customers over PPI claims.

Source: BBC News - Business | 26 Sep 2018 | 11:28 pm(NZT)

DealBook Briefing: Trump Rails Against Globalism

President Trump defended his administration’s trade wars on the most international of stages at the U.N. General Assembly, and his peers pushed back.

Source: NYT > Business Day | 26 Sep 2018 | 11:04 pm(NZT)

Mobile phone charges 'unacceptable' says Ofcom

The regulator says it's had enough of operators who continue to charge people for phones they already own

Source: BBC News - Business | 26 Sep 2018 | 10:56 pm(NZT)

'Pothole epidemic' and cold winter hits AA profits

Bad road conditions and extreme weather conditions in the UK are behind a 65% slump in profits for the AA.

Source: BBC News - Business | 26 Sep 2018 | 9:58 pm(NZT)

Trump at UN: Who does business with Iran?

President Trump was highly critical of Iran in a speech at the UN

Source: BBC News - Business | 26 Sep 2018 | 9:13 pm(NZT)

Nafta’s Fate Hinges on a Four-Letter Word: Milk

Canada’s dairy protections have become a key sticking point in Nafta and a potential roadblock to a trilateral deal with the United States and Mexico.

Source: NYT > Business Day | 26 Sep 2018 | 9:00 pm(NZT)

What to Watch From the Fed: An Interest Rate Increase and the Path Forward

Investors have priced in a fourth consecutive quarterly rate increase. All that’s left on Wednesday is the Federal Reserve’s official announcement.

Source: NYT > Business Day | 26 Sep 2018 | 9:00 pm(NZT)

India’s Supreme Court Limits Aadhaar, a Sweeping ID Program

Judges upheld the biometric identification system but rebuked the government for requiring the fingerprint ID for virtually everything in daily life.

Source: NYT > Business Day | 26 Sep 2018 | 6:43 pm(NZT)

Square Feet: Capital of Laos Seeks Stronger Ties to China

Hoping that China’s Belt and Road Initiative will improve connectivity with its neighbor, Laos is preparing for a new wave of Chinese investment in its property sector.

Source: NYT > Business Day | 26 Sep 2018 | 4:24 pm(NZT)

China shows faster pace of economic restructuring, analysts say

China’s economic restructuring is picking up pace, with its manufacturing sector showing signs of a shift to higher value-added areas – a credit positive, according to analysts. China has been cutting excess capacity in heavy industry in recent years to revive profitability in the sector and reduce high debt levels, while encouraging factories to shift to higher-value production such as robotics and aerospace under its “Made in China 2025” initiative. “If such...

Source: South China Morning Post - Economy feed | 5 Jun 2018 | 6:19 pm(NZT)

China should seize the day and push on with tough economic reforms, says IMF

Now is the right time for Beijing to make important economic reforms – including shutting state-owned “zombie enterprises” and cleaning up local government budgets – the International Monetary Fund’s chief China representative has said. Alfred Schipke argued that the authorities were well-placed to act because the rebalancing of the economy was well on track and the government had adequate protections against external shocks. In its annual check of China’s...

Source: South China Morning Post - Economy feed | 5 Jun 2018 | 12:30 pm(NZT)

Is it time Beijing ditched ‘Made in China 2025’ and stopped upsetting the rest of the world?

Beijing should stop touting “Made in China 2025” as a development strategy and instead present it as simply a guideline for upgrading its manufacturing sector if it wants to ease growing concerns about its global ambitions, a Chinese academic said. Zhong Wei, a professor at Beijing Normal University, said the government should, in public at least, play down the significance of the scheme, which is seen in the United States and Europe as indisputable evidence of China’s aim to...

Source: South China Morning Post - Economy feed | 5 Jun 2018 | 1:30 am(NZT)

Cutting corporate debt will drag China’s economic growth down to 4.5 per cent, says Fitch

Beijing’s campaign to tackle the scourge of corporate debt will reduce China’s economic growth by more than one percentage point annually in the medium term, according to Fitch Ratings. The global ratings agency said measures taken by the government to bring down borrowing levels will inevitably dent business investment and take annual GDP growth down to about 4.5 per cent, well below the official target of 6.5 per cent. “China’s corporate debt challenges remain a key...

Source: South China Morning Post - Economy feed | 4 Jun 2018 | 9:31 pm(NZT)

China ‘regrets’ EU’s allegation of intellectual property theft lodged with World Trade Organisation

China voiced regret over the European Union’s decision to lodge an intellectual property rights complaint at the World Trade Organisation, just as Beijing is embroiled in a similar dispute with Washington. The EU brought the challenge to the WTO on Friday, accusing Beijing of unfairly requiring foreign firms to hand over their technology to Chinese companies to do business in China. US ignored Beijing’s gains in intellectual property protection, Chinese watchdog says “China...

Source: South China Morning Post - Economy feed | 4 Jun 2018 | 8:01 pm(NZT)

Property stocks climb after China’s central bank tweaks monetary policy

Shares of Chinese property firms climbed on Monday after the People’s Bank of China (PBOC) said it would broaden the range of collateral it accepts as part of its medium-term lending facility (MLF), making another slight tweak to its monetary policy. Introduced to PBOC’s monetary policy toolkit in September 2014, MLFs are loans given by the central bank to commercial lenders in exchange for collateral. The loans come in three tenors: three, six and 12 months. In addition to the use...

Source: South China Morning Post - Economy feed | 4 Jun 2018 | 6:58 pm(NZT)

Curbing China’s corporate debt could hit economic growth, report warns

China’s annual economic growth rate could fall by one percentage point over the medium term if business investment is hit by a sharp slowdown in debt growth as the government cracks down on lending risks, Fitch Ratings said. In a report published on Sunday, Fitch described the risks to growth that emerge from a scenario in which corporate debt growth slows significantly. “It is hard to put a precise time frame on when China will start to see the deleveraging of the real...

Source: South China Morning Post - Economy feed | 4 Jun 2018 | 4:15 pm(NZT)

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