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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...

Don’t disregard Africa, 78 U.S. ex-envoys tell Trump.

Seventy-eight former United States Ambassadors to 48 African countries have expressed a deep concern over reports of President Donald Trump’s recent remarks about the continent. The U.S. president’s negative characterisation of Africa on January 11, especially his ‘shithole’ comments, have elicited condemnations, not only from Africa but also from world leaders. French President Emmanuel Macron said he shared the ‘outrage’ and described it as ‘disparaging.’ South Africa and Nigeria were among the first to join a chorus of countries condemning Trump for his inflammatory remarks on immigration. Africa experts warned that the ensuing cacophony threatened America’s interest across the continent. Both countries have summoned U.S. diplomats to clarify their president’s vulgar remarks even as African ambassadors at the United Nations met with the U.S. ambassador to the U.N, Nikki Haley on Thursday. Haley did not apologise but reportedly told the African envoys that the conti...

Tsunami warnings as powerful quake hits off Alaska.

A powerful earthquake of magnitude 7.9 struck off the coast of Alaska early Tuesday, prompting tsunami warnings or watches as far away as California. The quake struck at 0931 GMT in the Gulf of Alaska, 280 kilometers (175 miles) southeast of the town of Kodiak, the US Geological Survey said, revising a preliminary estimate of 8.2 magnitude. The epicenter was 10 kilometers under the seabed. Tsunami warnings were issued for south and southeast Alaska and the west coast of Canada, the National Tsunami Warning Center said. Less-ominous tsunami watches were issued for the US west coast — the entire coasts of California and Oregon and part of Washington state — and Hawaii out in the Pacific. Heather Rand, who was 360 miles away in Anchorage, told CNN it felt like the longest earthquake she had ever experienced. “It was a very long, slow build up. Creepy, more than anything. Definitely the longest, and I was born here,” Rand said, adding the only damage was cracks in the ...

Juventus deny Balotelli move.

Juventus general manager Giuseppe Marotta has dismissed reports that the Serie A champions are interested in signing Italian striker Mario Balotelli as “a hoax”. There were reports that a five-year deal was in the offing for the former Manchester City striker, who has hit top form for Nice this season with 17 goals. “Beyond our affection, esteem and liking for this boy it’s a fantasy football story,” Marotta told Mediaset Premium on Monday. “His is a profile we don’t need.” Balotelli won six trophies with Inter Milan including the Champions League before moving to Manchester City in 2010, followed by two spells at AC Milan either side of an unsuccessful stint at Liverpool. The 27-year-old left Liverpool on a free transfer in August 2016 to join Nice, who are sixth in the French league this season. Marotta confirmed the reigning six-time league champions’ interest in Liverpool’s German international Emre Can, whose contract expires in June. “We know his contrac...

Cautious Bank of Japan leaves monetary policy unchanged.

Japan’s central bank on Tuesday kept its ultra-loose monetary policy in place, tamping down investor expectations of a move towards an exit from crisis-era stimulus in line with the trend in other major economies. The decision came as inflation remains stubbornly low in Japan, even as the world’s number three economy has enjoyed seven straight quarters of growth. Governor Haruhiko Kuroda gave few clues about any timeline for pulling back the bank’s huge asset-buying programme, shrugging off market expectations. Given continuing weak inflation, “we are not in a situation where we can discuss the timing of so-called exit policy”, Kuroda told reporters after the bank’s decision. The Bank of Japan’s massive monetary easing programme is a cornerstone of Prime Minister Shinzo Abe’s “Abenomics” campaign to kickstart the economy after years of torpid growth. On Tuesday, the BoJ said it would continue to purchase 10-year government bonds so that long-term interest rates wo...

Hotel evacuated, stations closed after London gas leak.

Almost 1,500 people were evacuated from a hotel and night club in central London overnight and two train stations were closed following a gas leak, authorities said Tuesday.   “A ruptured gas main was discovered using detection equipment and high levels of natural gas were detected in the atmosphere,” a London Fire Brigade spokesman said. “As a precaution, approximately 1,450 people have been evacuated. They are from a hotel and a night club.” Charing Cross and Waterloo East train stations, which brings commuters into the capital, were also closed, while Tube trains were not stopping at Charing Cross. The Strand, a major road running from Trafalgar Square to Waterloo Bridge, was also closed and people were asked to avoid the area. The Fire Brigade said they did not yet know the cause of the gas leak, but engineers were attending. A spokesman for the Cadent Gas company said: “We are working with the...