NEW YORK: A profit warning and muted outlook from package delivery company FedEx Corp is prompting some high-profile fund managers to prepare for the trade war between the United States and China to last longer than many had originally anticipated. Shares of the shipping company, whose business is often seen
SHANGHAI/BEIJING: When China launched the expansion of the Shanghai free trade zone (FTZ) recently and announced six new FTZs in July, officials touted the efforts to attract foreign investment and deepen trade ties with neighbouring countries. Yet, for many businesses the FTZs have simply failed to live up to their
SHENZHEN, China/SHANGHAI: Tech giant Tencent Holdings Ltd plans to leverage its strengths in video games and social media to grab market share in China’s burgeoning cloud computing sector from incumbent Alibaba, the head of its cloud unit told Reuters. Tencent is best-known for its WeChat messaging app and a suite
NEW YORK: At an event hosted by Citigroup Inc this month, its dealmakers sat executives from major consumer-product companies alongside rivals trying to disrupt their businesses. The idea, bankers said, was to hatch partnerships between old companies that are replete with cash and searching for growth, and fledgling companies that
BUENOS AIRES/BEIJING: Cattle ranchers in Argentina, which recently edged out neighbour Brazil as the top exporter of beef to China, are hoping to build on that status by getting more local meatpacking plants approved by Beijing, industry officials and other sources told Reuters. An Argentine industry group is currently in
LONDON: A British demand for supermarkets to prepare for a potentially chaotic no-deal Brexit by stockpiling food is stoking anger in the industry, with bosses saying they should not be blamed if people can’t find everything they want on the shelves. With British politics spiralling towards an unpredictable endgame, makers
SANTIAGO: Chile is making a renewed push for battery technology investment in return for access to its lithium deposits, piquing interest from China, Japan and Europe as global firms look to tie up supply of the metal vital for the shift to electric vehicles. The South American country, the world’s
WASHINGTON: The number of Americans filing applications for unemployment benefits increased less than expected last week, pointing to strong labour market conditions that should continue to support an economy growing at a moderate pace. The steady economic growth pace was also underscored by other data on Thursday showing home resales
The palm oil industry was responsible for at least 39 percent of forest loss in biodiversity-rich Borneo island between 2000 and 2018, data from an Indonesia-based research firm shows. The Centre for International Forestry Research (Cifor) data, published this month via its Borneo Atlas tool, comes as a smoky haze
WASHINGTON: The United States is losing the race to extract and refine minerals used to make electric vehicles and should do more to spur domestic production, a bipartisan group of senators said on Tuesday. The push comes as China has grown to dominate the market for lithium, rare earths, cobalt
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