Ford Motor Co has appointed Jason Luo, head of auto parts maker Key Safety Systems, to run its China operations, a move seen as signalling its resolve to revive sales in the world's biggest car market. The U.S. automaker hopes Luo, the first executive from mainland China to hold its top job there, will reprise his work at KSS, where he engineered a significant surge in China revenue.
World stocks steadied on Thursday after two turbulent weeks as geopolitical worries eased in Asia and caution prevailed on the day the annual Jackson Hole gathering of central bankers gets underway. The MSCI World index (.WORLDE), which fell to a five-week low on Monday, was down 0.05 percent. Gains by cyclical stocks helped Europe's benchmark STOXX 600 (.STOXX) index inch up 0.2 percent.
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The dollar steadied on Thursday after another politically-driven slide against the euro and yen, helped by nerves over what message Federal Reserve policymakers will send during meetings in Jackson Hole starting later in the day. The dollar's 14 percent decline against the euro this year has come courtesy of a collapse in expectations for tax cuts and other pro-growth moves by the Trump administration that weaken the case for further rises in Fed interest rates. Any harder signal on that issue from Fed chair Janet Yellen when she speaks on Friday would be liable to help the greenback.
The Islamist militant group Boko Haram burnt down a newly renovated hospital and several houses in Adamawa State, northeast Nigeria, on Tuesday night, a local government official said.
Asian stocks and the dollar edged up on Thursday, shaking off the risk aversion that gripped financial markets overnight after President Donald Trump threatened to shut down the U.S. government and end the North American Free Trade Agreement. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.45 percent. Japan's Nikkei pulled back 0.3 percent, with steelmakers slumping after the Nikkei business daily reported that Toyota Motor Corp was looking to cut the price of steel supplied to component makers in the October-March period.
