Business NEWS

The ongoing trade war between the United States and China is harming both economies, the UN said Tuesday, with a sharp drop in exports and higher prices for consumers.

TOKYO - Cash is king in Japan, and more so for the country’s fast-aging population who are still deeply reluctant to give it up.

NEW YORK (AP) — McDonald's chief executive officer has been pushed out of the company after violating company policy by engaging in a consensual relationship with an employee, the corporation said Sunday.

China’s President Xi Jinping said on Sunday that the country will promote the globalization of Shanghai’s financial markets through the Belt and Road Initiative, and the city should strive to master the core links of the industry chains.

French President Emmanuel Macron will seek to make China deliver on promises to grant more access to foreign companies, eyeing agribusiness and finance, advisers said ahead of his arrival in Shanghai for a giant import fair.

The signing of the world's largest trade pact will likely be kicked back to 2020, according to a draft statement by Southeast Asian leaders, delaying a deal craved by China to offset a painful tariff war with the US.

DUBAI - Italy is set to ban flights by Iran’s Mahan Air, an Iranian industry official said on Saturday, as the United States seeks action against the airline accused by the West of transporting military equipment and personnel to Middle East war zones.

Airbnb's boss announced Saturday that the online platform, which offers private homes for rent for short periods, is banning "party houses" after a deadly shooting at a Halloween event in California.

The Philippine Stock Exchange (PSE) reported a 30.83 percent jump in net income to ₱485.07 million for the first nine months of 2019 from the ₱370.75 million earned in the same period last year despite lower revenues.

BEIJING - Profits at China’s industrial firms contracted for the second straight month in September as producer prices continued their slide, highlighting the toll a slowing economy and protracted US trade war are having taken on corporate balance sheets.

Beijing’s new $63 billion Daxing airport began its first scheduled international flights on Sunday as it ramped up operations to help relieve pressure on the city’s existing Capital airport.

WASHINGTON - US and Chinese officials are “close to finalizing” some parts of a trade agreement after high-level telephone discussions on Friday, the US Trade Representative’s office said, adding that deputy-level talks would proceed “continuously.”

The Duterte administration’s economic managers are confident that the national government will hit its spending program this year despite by the setback caused by the delayed passage of the budget and the election ban.

FRANKFURT - Mario Draghi may be the man who saved the euro but his last news conference as President of the European Central Bank on Thursday is unlikely to be the grand finale he was hoping for.