Chinese tax collectors descend on companies as budget crunches loom
BEIJING — Chinese authorities are chasing unpaid taxes from companies and individuals dating back decades, as the government moves to plug massive budget shortfalls and address a mounting debt crisis. More than a dozen listed Chinese companies say they were…
US stock markets rally; S&P 500 sees best day since 2022
NEW YORK — U.S. stocks rallied Thursday in Wall Street’s latest sharp swerve after a better-than-expected report on unemployment eased worries about a slowing economy. The S&P 500 jumped 2.3% for its best day since 2022 and shaved off all…
Wall Street rallies to bounce back from its worst day in nearly 2 years, as Japanese stocks soar
New York — U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by…
Japan’s Nikkei 225 soars 10% and other world markets are mixed after the week’s rollercoaster start
Bangkok — Japan’s benchmark Nikkei 225 index soared more than 10% on Tuesday, rebounding after a rollercoaster start to the week that sent markets tumbling in Europe and on Wall Street. European markets were mostly lower, with Germany’s DAX down…
Official: Iran smuggles ‘5 to 6 million liters’ of oil into Pakistan daily
Islamabad — Pakistan’s military revealed Monday that millions of liters of Iranian oil are being smuggled into the country each day, but rejected long-standing allegations that it is also playing a role in the illegal trade. Lt. Gen. Ahmed Sharif…
World stocks plunge on fears of US economic slowdown
New York — Stock markets across the globe plunged Monday as investors sold stocks on worries that the U.S. economy, the world’s largest, might be slowing and possibly headed to a recession. In afternoon trading, all three major U.S. indexes…
EU should limit curbs on outbound investment, semiconductor group says
AMSTERDAM — Semiconductor industry group SEMI Europe called on the European Union on Monday to place as few restrictions as possible on outbound investment in foreign computer chip technology by companies based in the bloc. Proposals to screen outbound investment…
Wall Street week ahead: Flaring economic worries threaten US stocks rally
New York — Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt U.S. growth. Alarming economic data in recent days have deepened those…
Weak US jobs data pummels stock markets as a global sell-off whips back to Wall Street
New York — U.S. stocks are tumbling Friday on worries about whether the U.S. economy can hold up amid the countdown for a cut to interest rates by the Federal Reserve, as a sell-off for stocks whips all the way…
US job growth slows, unemployment rate increases
U.S. job growth in July slowed to an unexpected 114,000 jobs added in the wake of interest rate hikes by the Federal Reserve in 2022 and 2023. Job growth declined from the 179,000 jobs added in June, according to the…