Business News Beijing

  • JPMorgan, the nation's biggest bank, lowered its outlook for net interest income to "about $57.5 billion" in 2019 from the $58- plus billion it estimated in February. "We're not as dynamically correlated to rate changes," Goldman Sachs Chief Financial Officer Stephen Scherr told analysts, noting the bank holds fewer deposits "than the big commercial banks."

  • WASHINGTON, July 16- President Donald Trump said on Tuesday the United States still has a long way to go to conclude a trade deal with China but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so.

  • JPMorgan, the world's biggest bank, lowered its outlook for net interest income to "about $57.5 billion" in 2019 from the $58- plus billion it estimated in February. In late morning trading, shares of JPMorgan were up 1% at $115.10; Goldman Sachs Group Inc- the least rate-sensitive of the three banks- climbed 1.3% to $214.37, and Wells Fargo fell 1.7% to $45.89.

  • PARIS, July 16- The International Monetary Fund must continue to adapt to rising economic powers such as China and new financial technologies to remain relevant in its next 75 years, the fund's acting managing director said on Monday. David Lipton, speaking at a conference in Paris marking the 75th anniversary of the Bretton Woods institutions, said the IMF,...

  • July 16- JPMorgan Chase& Co reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks. Trading volumes have been lower at large U.S. banks as a tit-for-tat tariff war between Beijing and Washington has kept investors on edge. Chief Executive Officer Jamie...

  • Trading volumes have been lower at large U.S. banks as a tit-for-tat tariff war between Beijing and Washington kept investors on edge. "We continue to see positive momentum with the U.S. consumer healthy confidence levels, solid job creation and rising wages which are reflected in our Consumer& Community Banking results," Chief executive Officer Jamie Dimon...

  • BEIJING, July 16- China on Tuesday rebuffed a suggestion from U.S. "As for United States' so-called' because China's economy is slowing so China urgently hopes to reach an agreement with the U.S. side', this is totally misleading," he added. Both China and the United States wanted to reach a trade deal, not China alone, Geng said.

  • LONDON, July 16- Global stocks struggled to cling to recent gains on Tuesday and the dollar lingered with markets awaiting U.S. data and a slew of corporate and bank earnings for a fresh readout on the health of the world's largest economy. European markets struggled for direction with the pan-region Stoxx 600 nudging a touch lower, reflecting key indexes in...

  • *China H1 fiscal spending up 10.7% y/y, revenue +3.4%. BEIJING, July 16- China's local governments sharply accelerated their bond issuance in June as they looked to ramp up infrastructure spending to support economic growth that slowed to a 27- year low. Beijing is counting on a recovery in infrastructure investment to help stabilise the world's...

  • MSCI's emerging market index tracking equities was marginally higher, lifted by gains in Asian heavyweights Hong Kong, South Korea and Taiwan. Mainland China shares however, closed lower as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S. trade war, even as Beijing ramped up stimulus efforts.

  • BEIJING, July 16- China on Tuesday rebuffed a suggestion from U.S. Official data on Monday showed China's economic growth cooled to 6.2% in the second quarter, the weakest annual pace in at least 27 years, amid trade pressure from the United States. "As for United States' so-called' because China's economy is slowing so China urgently hopes to reach an agreement with...

  • SINGAPORE, July 16- Nickel prices on Tuesday jumped to their highest in 11 months as some funds pushed up their purchase of the metal pegged to benefit from the burgeoning electric vehicle industry. Shanghai nickel also touched an 11- month high of 109,710 yuan a tonne during Asian trading hours before paring some of the gains, and ended up 4.1% at 109,460 yuan a...

  • SHANGHAI, July 16- China shares ended down on Tuesday after three sessions of gains as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S. trade war, even as fresh data highlighted Beijing's efforts to boost spending. **Data on Monday showed China's economic growth slowed to 6.2% in the second quarter, its...

  • *Toyota, Honda outperform on report China shifts to hybrid cars. TOKYO, July 16- Japan's Nikkei fell on Tuesday as investors worried about slowing economic growth in China, but automakers outperformed on a media report that China will rely more on hybrid vehicles. There are worries Japan's economy will remain underpowered, and slow further, as the U.S.- China row...

  • **China's blue-chip CSI300 index was down 0.34%, with its financial sector sub-index lower by 0.17%, the consumer staples sector down 1.27%, the real estate index up 1.4% and the healthcare sub-index down 0.7%. China's economy grew by 6.2% in the second quarter of 2019, its slowest quarterly pace on record. **China's fiscal spending increased 10.7% in the first six...

  • A Chinese national flag flies in front of a building under construction in the central business district of Beijing, China.

    China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the slowing economy.

  • SINGAPORE, July 16- London copper prices were almost unchanged on Tuesday, hovering around a two-week high hit in the previous session after top consumer China reported positive industrial output and investment data. Three-month copper on the London Metal Exchange was almost flat at $5,985 a tonne, as of 0346 GMT, while the most-traded copper contract on the...

  • BEIJING, July 15- China's government and Chinese companies will cut business ties with U.S. firms selling arms to Taiwan, China's Foreign Ministry said on Monday, declining to give details of the sanctions in a move likely to worsen already poor ties with Washington. China claims self-ruled and democratic Taiwan as its own and has never renounced the use of force...

  • *Toyota, Honda outperform on report China shifts to hybrid cars. TOKYO, July 16- Japan's Nikkei fell on Tuesday as slowing economic growth in China hurt investor sentiment, but automakers outperformed on a media report that China will rely more on hybrid vehicles. Japan's economy expanded an annualized 2.1% in the first quarter but many analysts predict growth...

  • President Donald Trump on Monday seized on slowing economic growth in China as evidence that U.S. tariffs were having "a major effect" and warned that Washington could pile on more pressure as bilateral trade talks sputtered along. "This is why China wants to make a deal with the U.S., and wishes it had not broken the original deal in the first place," Trump tweeted.