European stocks headed for their longest run of losses in more than five years after weak German economic data, while the dollar strengthened as investors increased bets for further Federal Reserve policy tightening.
China’s top chipmaker, Semiconductor Manufacturing International Corp., warrants investigation as the company appears to have violated US sanctions by supplying components to Huawei Technologies Co., US lawmakers said.
Investors including Blackstone Inc. and Thomson Reuters Corp. sold about £2 billion worth of stock in London Stock Exchange Group, bringing the total amount offloaded since March to more than £7 billion. LSE also bought back around £750 million in shares, part of Chief Executive Officer David Schwimmer’s pledge to support an “orderly sell down” for the consortium. That’s as the exchange struggles to retain premium listings and win over new ones.
James Kuffner is leaving his post as chief executive officer of Toyota Motor Corp.’s automotive-technology unit, Woven by Toyota, as the world’s largest carmaker seeks to accelerate the introduction of battery-based electric vehicles.
Societe Generale SA has switched its Asia chip stock preference to South Korea over Taiwan, saying the likes of Samsung Electronics Co. are better geared to profit from the end of the semiconductor downcycle.
China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple Inc. in its biggest foreign market and global production base.
Chinese businesses slashed investment into the US to the lowest since the global financial crisis, Rhodium Group estimated, a further sign of decoupling between the world’s two largest economies.
Shares in Asia were broadly lower Thursday while the dollar strengthened further against major currencies as investors increased bets for further Federal Reserve policy tightening.
A Japanese rocket bound for the moon took off early Thursday, offering relief to a battered national space program following a string of weather delays, major setbacks and high-profile failures.
The US scrapped a test on Wednesday of what’s meant to be the Army’s first hypersonic missile in its arsenal, a setback as the US looks to catch up with China for a crucial weapon of the future.
