Asian markets squeezed out gains Tuesday, giving investors some relief from a recent sell-off fuelled by worries that US interest rates will go higher than feared following last week's blockbuster jobs report. He told Bloomberg News: "I would expect that that would translate into us raising interest rates more than I have projected right now."
Taiwanese tech titan TSMC reported Thursday a forecast-busting record net profit for the third quarter on skyrocketing demand for microchips used to power iPhones and artificial intelligence. TSMC said net profit for the three months to September soared 39.1 percent from a year ago to NT$452.3 billion (US$14.7 billion).
Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, will eliminate 16,000 jobs worldwide over the next two years, its new chief executive said on Thursday.
Asian equities edged up Thursday as investors weighed the latest volleys in the China-US trade war and expectations that the Federal Reserve will continue cutting interest rates this year. Bets on US rate cuts, a weaker dollar and worries about the latest China-US flare-up, have helped push gold to daily records and on Thursday it hit a peak of $4,234.70.
Business and Economy
Load more
Energy
Read more
Money
Read more
Industry
Read more
Technology
Read more
Economy
Read more
