Asian stocks were subdued on Thursday ahead of key Chinese data that could provide more clues on how heavily the U.S.-Sino trade war is weighing on the economy, while oil prices were supported by supply concerns after attacks on tankers in the Gulf of Oman.
Fears of a global recession are on the rise as the U.S.-China trade war re-escalated in May, sending investors to the safety of U.S Treasuries, the Japanese yen and gold.
The judge hearing a complaint from state attorneys general seeking to stop T-Mobile US Inc from buying Sprint Corp for $26 billion will hold a pre-trial hearing next week.
Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices as attacks on tankers in the Gulf of Oman stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world’s main sea lanes.
An executive of China’s Huawei, which has been banned from working with U.S. tech firms, said on Thursday that the telecoms giant is in the process of potentially launching its “Hongmeng” operating system (OS) to replace the U.S. Android OS.
Alphabet Inc’s Google is trying to plug a surge of public scrutiny around the world by overhauling how its policy office operates, with increased emphasis on having policy staffers and top company executives alike building relationships with governments, people familiar with the matter said this week.
Chewy Inc said on Thursday it priced its initial public offering at $22 per share, above its target, and sold more stock than originally planned, valuing the online pet products retailer at $8.77 billion.
An executive of Huawei Technologies Co Ltd said on Thursday that the Chinese telecoms giant is in the process of potentially launching its “Hongmeng” operating system (OS) to replace the U.S. Android OS.
Democratic presidential hopeful Joe Biden on Thursday took umbrage with e-commerce giant Amazon.com Inc’s $0 federal tax bill in 2018 and said no company making billions in profits should pay a lower tax rate than firefighters and teachers.
U.S. President Donald Trump met with Apple CEO Tim Cook on Thursday to discuss trade, U.S. investment, immigration and privacy, a White House spokesman said.
The Trump administration is expanding efforts to block the use of Chinese technology in advanced vehicles, denying additional requests by Tesla Inc for tariff relief on key components of its electric vehicles, and rejecting ride-hailing company Uber’s petition to waive tariffs on electric scooters and at least 50 separate requests by General Motors Co.
Walmart Inc, Target Corp and more than 600 other companies urged U.S. President Donald Trump in a letter on Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers.
U.S. stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman.
The U.S. Trade Representative’s Office rejected Uber Technologies Inc’s request for relief from 25% tariffs imposed on Chinese-made electric bicycles, according to a May 29 letter.
Oil futures rose on Thursday after attacks on two tankers off the coast of Iran, while the U.S. Treasury yield curve steepened and stocks rose following economic data seen as strengthening the case for the Federal Reserve to cut interest rates this year.
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