China's Baoshan Iron and Steel Co Ltd posted a 46 percent fall in net incom...
BEIJING - China’s Baoshan Iron and Steel Co Ltd posted a 46 percent fall in net income in the first quarter from a year ago, its first drop in profit since 2015, and said it expects lower revenue in 2019 citing China’s sluggish auto industry.
Revenue in the first quarter fell 3.1 percent from a year ago to 65.38 billion yuan, the company said. China’s automobile sales fell 11.3 percent in the first quarter from a year earlier, the China Association of Automobile Manufacturers said earlier this month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. may follow China with first quarter GDP upside surpriseA temporary government shutdown with no end in sight, rising trade conflicts and...
Read more »
Nestle upbeat after U.S. and China boost first-quarter growthNestle posted higher-than-expected sales growth in the first three months of the...
Read more »
China shows off new destroyer as Xi views naval paradeChina showed off the first of its new generation of guided missile destroyers on...
Read more »
The Nintendo Switch is coming to China, but will it sell in a console-hostile market?Despite the size of China’s gaming market, consoles have rarely sold well there. Prior to a ban on gaming consoles that ran from 2000 to 2015, Nintendo previously sold devices like the Nintendo 64 and 3DS XL in China under the brand “iQue.”
Read more »
A viral outbreak in China might make dinner more expensive for everyonePork prices in China may soar more than 70% by next year, as hog populations — ravaged by African swine fever — plunge to 'historically low' levels.
Read more »
China says its economic growth is improving, but analysts warn it still needs stimulusChina's stronger-than-expected growth claim may be tempting policymakers to pare back stimulus. Analysts say that would be a mistake.
Read more »
China and India will become asset management 'powerhouses,' top fund manager saysChina and India are poised to become 'real powerhouses' for the asset management industry, Standard Life Aberdeen Vice-Chairman Martin Gilbert told CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia.
Read more »
U.S. wins WTO ruling against China grain import quotasThe United States won a World Trade Organization (WTO) ruling on Thursday agains...
Read more »
To help counter China, U.S. turns to the Coast GuardThe deployment of the USCGC Bertholf highlights a shifting U.S. strategy going forward.
Read more »
Major banks raise China growth forecasts after surprise GDP numbers — some are still cautiousChina's better-than-expected first quarter GDP growth is spurring economists at Citi, Barclays and ING to raise their growth forecasts for this year, though other analysts are holding off for now.
Read more »
China reportedly uses satellites built and financed by US companies to connect military operationsChina makes use of nine satellites in orbit around the Earth, built by American companies, to boost government capabilities, the WSJ reported.
Read more »