Stock markets mixed amid doubts on US-China trade deal – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. The waiting game continues for the US-China trade deal. Chinese state media described the latest discussions, held by phone over the weekend, as “constructive,” but a report from CNBC suggested yesterday that the mood in Beijing […]

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Hong Kong stocks rebound despite latest violence – business live | Business

8.23am GMT08:23 Here in London, there is little corporate news this morning. There is a warning from IQE, which makes semiconductor wafers for chips used in Apple products and for Asian customers in Taiwan and Singapore. It has warned on annual revenues for the second time in less than five months, sending its shares down […]

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Stronger-than-expected US jobs data boost stock markets – as it happened | Business

Tentative signs of renewed vigour are appearing in the US manufacturing sector, with the survey’s production gauge having now risen for three successive months to suggest that the soft patch bottomed out in July. Growth of new orders hit a six-month high, fuelled in part by a renewed increase in exports, prompting producers to take […]

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Hong Kong protests drag economy into recession – business live | Business

Kong’s main tourist strip, Ashfaqur Rahman’s tailor shop usually is a mainstay for tourists dropping in to peruse neatly stacked rolls of fabric and get measured for custom-made suits. Not anymore. Business has dried up since anti-government protests began in early June in the Asian financial center. On Thursday, the government said Hong Kong’s economy […]

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German consumer morale slides; Brexit jitters weigh on markets – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. The storm clouds over Germany’s economy have darkened again this morning, with consumer morale hitting a three-year low. The Nuremberg-based GfK institute has reported that Germans are more pessimistic about the economic outlook, making them more […]

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Trump’s weaponisation of the dollar could threaten its dominance | Jeffrey Frankel | Business

The language of international monetary policy has turned militaristic. The phrase “currency war” has been popular for a decade and the US government’s more recent “weaponisation” of the dollar is generating controversy. But ironically, a martial approach could end up threatening the US currency’s global dominance. This is a good time to gauge the relative […]

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Thomas Cook’s former bosses told to take responsibility for its failure – business live | Business

Success may have many parents, but the failure of the world’s oldest holiday firm is certainly an orphan, if you believe Thomas Cook’s former bosses. Manny Fontenla-Novoa, who ran the company from 2003-2011, was categorical that he’s not to blame, telling MPs that his merger with rival operator MyTravel made sense. There’s one problem with […]

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From barter to cash: How East Africa’s currencies have evolved

From barter to cash: How East Africa’s currencies have evolved

By JOHN KAMAUMore by this Author As Kenyans celebrate Mashujaa Day, one of the major shifts this month has been on the demonetisation of the Sh1,000 currency and the introduction of a new note. We have taken a long journey since the introduction of the Maria Theresa Thaler by the Arabs trading with East Africa […]

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How the wheels came off Facebook’s Libra project | Technology

When Facebook announced plans to launch a digital currency earlier this summer, it added a full-blown revolution in global finance to its typically-vaulting Silicon Valley mission statement: to create a digital currency alongside its efforts to bring the world closer together through networks. Over the past month, that mission has gone badly awry. The Libra […]

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UK inflation sticks at 2016 low, as London house prices keep falling – business live | Business

UK inflation sticks at 2016 low, as London house prices keep falling – business live | Business

11.34am BST11:34 ONS Head of Inflation Mike Hardie sums up this morning’s data: “Inflation remained unchanged into September at its lowest rate since late 2016. Motor fuel and second-hand car prices fell, but were offset by price increases for furniture, household appliances and hotel rooms. “Annual growth in UK house prices showed a moderate pick-up […]

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