Business

'Counter-sanctions possible, trade war between EU & US would be very bad' - German economy minister
'Counter-sanctions possible, trade war between EU & US would be very bad' - German economy minister
New sanctions against Russia approved by the US House of Representatives on Tuesday could result in counter-sanctions, warns the German economy minister, adding that a trade war between the EU and the US would be "very bad."

Business snaps

  • Stocks extend record run; dollar steadies after Fed fall

    Stocks on world markets rose to record highs on upbeat corporate earnings Thursday, while US Treasury yields and the dollar climbed, as investors assessed the Federal Reserve’s statement that it is closer to paring its balance sheet. MSCI’s 47-country All World share index was at a record peak, while U.S. stocks hit all-time highs as well. Asian stocks had jumped to their highest in almost a decade. The Dow Jones Industrial Average was up 54.94 points, or 0.25 percent, to 21,765.95, the S&P 500 gained 3.83 points, or 0.15 percent, to 2,481.66 and the Nasdaq Composite added 31.33 points, or 0.49 percent, to 6,454.08. The euro on Thursday fell 0.5 percent against the dollar, slipping back below $1.17. The dollar rose 0.3 percent against the yen to 111.50 yen. (Reuters)

  • Germany recalls Porsche Cayenne models over illegal emissions software

    German Transport Minister Alexander Dobrindt on Thursday announced a recall of Porsche 3-liter Cayenne cars after finding illegal emissions controlling software in the vehicles. Dobrindt told reporters he was withdrawing certification for the vehicles, and Porsche would bear 100 percent of the cost of the recalls. Volkswagen CFO Frank Witter had no immediate comment on an earnings call. (Reuters)

  • Swiss franc hits lowest since 2015 cap shock

    The Swiss franc’s fall to its weakest since the collapse of an official cap in 2015 dominated major currency markets on Thursday, and the dollar recovered from a fall to 2-1/2 year lows. The franc had already fallen almost 2 percent this week. It sank by as much as another 1 percent against the dollar and the euro in morning trade in Europe, while other major currency pairs were broadly steady. By 1020 GMT, the franc had steadied a little to trade 0.6 percent weaker at 1.1231 francs per euro. It lost 0.9 percent to 0.9587 francs per dollar. By late morning in Europe, the dollar had gained 0.2 percent on the day at $1.1713 per euro, having hit a low of $1.1777 in Asian trading. (Reuters)

  • Sterling hits 10-month high as dollar dips on Fed

    Sterling hit a 10-month high against a broadly weaker dollar on Thursday, after the US Federal Reserve left policy unchanged and appeared less confident about inflation picking up, which investors took as a sign rates could be kept low for longer. With the dollar skidding across the board, the pound took advantage, hitting as high as $1.3157, its highest since mid-September. By 0810 GMT on Thursday it had eased back to $1.3138, up 0.1 percent on the day, but that still left it around 1 percent stronger than before the Fed. As the euro has rallied, the pound has fallen to eight-month lows in recent weeks. It was slightly higher on Thursday but still less than a cent away from that low, at 89.18 pence per euro. (Reuters)

  • Hong Kong shares end at fresh 2-year high led by tech stocks

    Hong Kong shares gained for a fourth straight session on Thursday as investors took heart from Wall Street, where shares climbed to record highs after the US Federal Reserve kept interest rates unchanged and on strong corporate earnings. The benchmark Hang Seng Index ended 0.7 percent higher at 27,131.17, a new 2-year high, helped by gains in technology and financial shares. The Hang Seng China Enterprises Index was up 0.3 percent at 10,858.19. Technology sector heavyweight Tencent Holdings’ 2.5 percent rise single-handedly pushed the sector up. (Reuters)

  • S. Korea’s economy expands 2.7% in Q2

    The Bank of Korea says South Korea’s economy grew at a 2.7 percent annual pace during the April-June quarter. The central bank said Thursday that Asia’s fourth-largest economy saw lower exports but a big jump in capital spending and improved consumer spending supported growth. The economy grew 2.9 percent in the previous quarter. On a quarterly basis, the economy grew 0.6 percent from the January-March period. Earlier this week, the government upgraded its forecasts for growth in this year to 3 percent, citing strong exports led by semiconductor companies that sharply increased capital spending. (AP)

  • Boris Johnson lends support to Australia-UK free trade deal

    British Foreign Secretary Boris Johnson said on Thursday that he supports a proposed free trade agreement between the UK and Australia, as his country looks to strengthen its relationships with allies ahead of Britain’s departure from the EU. Johnson and his Australian counterpart, Foreign Minister Julie Bishop, announced the two nations would boost their trade, intelligence-sharing and military ties following an annual meeting in Sydney. “We are going to widen our horizons and work even more closely,” Johnson said. “We have today reaffirmed our shared goal of concluding a free trade agreement as soon as possible after we leave the EU.” (AP)

Shows

  • Breaking It Down: Dark web, NORAD, and self-driving cars
    Boom Bust
    The Boom Bust cycle is as old as Western banking itself. Each day at 4:30 pm EST Lindsay France...
    Breaking It Down: Dark web, NORAD, and self-driving cars
    It’s time for Boom Bust! Simone Del Rosario is filling in for Lindsay France and she’s got the headlines! The Czech central bank signals a hike while gold prices slide for a third day in a row. Special guest Peter Schiff breaks down the...
  • Episode 1102
    Keiser Report
    Markets! Finance! Scandal! Keiser Report is a no holds barred look at the shocking scandals...
    Episode 1102
    Max and Stacy talk to JP Sottile of Newsvandal.com as part of the Keiser Report’s annual Summer Solutions series, to discuss whether or not MAGAnomics will help make America Great Again. They discuss trade deals and automation: which has...

RT asks

China chasing away US spy plane is a sign of: