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U.S. Pork Industry Sees $25 Billion China Market Without Tariffs

(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. U.S. pork producers see a potential $24.5 billion market in China within 10 years if the Trump administration can gain unrestricted trade access after the Asian country’s hog herd has been devastated by disease.The National Pork Producers Council released the forecast on Tuesday as they pressed the Trump administration to emphasize access for pork products in ongoing talks with Beijing for a partial trade agreement.The spread of African swine fever has ravaged China’s hog herd and by September had driven …read more […]

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Europe must wean itself off global payment card schemes, ECB says

A European Central Bank board member has said Europe must overcome its reliance on international payment providers – but that it is not the central bank’s job to come to the rescue and crowd out private sector initiatives. More than two-thirds of non-cash payments are made with overseas cards as most competing European providers tend to be focused domestically or regionally, Benoit Coeure told a conference on Tuesday. “Europe is at risk of losing its economic edge,” Coeure said. …read more […]

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UPDATE 3-Russia hopes to agree new S-400 missile deal with Turkey next year

MOSCOW/ISTANBUL, Nov 26 (Reuters) – Russia hopes to seal a deal to supply Turkey with more S-400 missile systems in the first half of next year, the head of Russian state arms exporter Rosoboronexport, Alexander Mikheev, said in an interview with RIA news agency published on Tuesday. Such a move could further sour ties between Turkey and the United States, which has suspended Ankara from the F-35 stealth fighter jet programme, in which it was a producer and buyer, to punish it for buying S-400 batteries earlier this year. Washington has also warned of possible U.S. sanctions, saying …read more […]

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How LVMH's whirlwind courtship sealed $16 billion Tiffany deal

LONDON/PARIS (Reuters) – Tiffany was codenamed “Tea” and LVMH was “Latte” in the whirlwind talks that led to the U.S. jeweller being taken over by the French luxury group for more than $16 billion, in a homage to famed film “Breakfast at Tiffany’s”. The monikers were an attempt to ensure secrecy about a deal that LVMH wanted to seal swiftly before its competitors could intervene, according to two sources involved in the talks. LVMH’s bid approach was discussed by executives at the two companies in mid October, soon before the French firm launched a big factory in Johnson …read more […]

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Hyundai Motor to invest $1.55 billion in first Indonesia car plant

South Korea’s Hyundai Motor said on Tuesday it has signed a preliminary deal to build a new factory in Indonesia, which would be its first car plant in Southeast Asia and a crack at Japanese rivals that dominate the market. The deal comes as Hyundai and affiliate Kia Motors struggle with a prolonged sales downturn in China, where they suspended two factories this year. Hyundai Motor said it will invest about $1.55 billion in the Indonesia auto manufacturing plant from now until 2030, including product development and operation costs. …read more […]

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European shares calm as investors seek any signs of trade deal progress

European shares were little changed on Tuesday after a strong start to the week, as investors sought concrete signs of any progress in trade talks between the United States and China. The pan-European STOXX 600 index was flat at 0803 GMT, after gaining more than 1% on Monday following a report that the two sides were close to a trade agreement. China’s Commerce Ministry said on Tuesday that top trade negotiators from both countries had reached a consensus on “resolving relevant problems” on a phone call, but gave no indication on the timing of a deal. …read more […]