Asian shares rise after Wall Street gains on solid earnings
Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. (AP Photo/Koji Sasahara)TOKYO โ Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies. Asian shares have tracked moves on Wall Street lately, as much of the region's export-dependent economies depend on robust trade, slammed by the coronavirus pandemic. Technology, communication and financial stocks powered most of the gains on Wall Street. Netflix shares fell in after-hours trading after the streaming service reported third-quarter earnings and a tally of new subscribers that fell short of analysts' expectations.
Asian shares rise after Wall Street gains on solid earnings
Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. (AP Photo/Koji Sasahara)TOKYO โ Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies. Asian shares have tracked the moves on Wall Street lately, as much of the region's export-dependent economies depend on robust trade, slammed by the coronavirus pandemic. Technology, communication and financial stocks powered most of the gains on Wall Street. Insurer the Travelers Cos. gained 5.6% after its latest earnings topped Wall Street's estimates, thanks partly to lower-than-expected losses on claims.
Asian shares track Wall Street fall as virus aid hopes fade
Asian shares fell moderately Tuesday, echoing Wall Street's decline as hopes faded Washington will come through with badly needed aid for the economy before the U.S. presidential election. On Wall Street, the S&P 500 dropped 1.6%, its worst day in more than three weeks. The S&P 500 fell 56.89 points to 3,426.92. The index has gained 7% so far this month, outpacing the 1.9% gain for the broader S&P 500. The benchmark S&P 500 has notched a gain in each of the past three weeks.
US says it will block palm oil from large Malaysian producer
The United States will block shipments of palm oil from a major Malaysian producer that feeds into the supply chains of iconic U.S. food and cosmetic brands. โWe would also encourage U.S. consumers to ask questions about where their products come from.โMalaysia is the worldโs second largest producer of palm oil. Palm oil and its derivatives from FGV, and closely connected Malaysian state-owned Felda, makes its way into the supply chains of major multinationals. They include Nestle, LโOreal, and Unilever, according to the companiesโ most recently published supplier and palm oil mill lists. Under Wednesdayโs order, palm oil products or derivatives traceable to FGV will be detained at U.S. ports.
P&G extends Olympic sponsorship, focusing on equality drive
FILE - In this March 30, 2020, file photo, a man jogs past the Olympic rings in Tokyo. (AP Photo/Jae C. Hong, File)LONDON Procter & Gamble will use its Olympic and Paralympic sponsorship to campaign for racial equality after extending its backing of the games through 2028. We want to now extend that to be both a force for growth and a force for good for the next eight years.The Tokyo Olympics are now a year away after being postponed due to the coronavirus pandemic. Gestures such as taking a knee or raising a fist on a medal podium remain prohibited by the International Olympic Committee. Thats a big discussion the IOC is now having with the athletes, which I think is quite appropriate, Pritchard said.