Federal Reserve Chair Jerome Powell, who last week cut U.S. interest rates as an insurance policy against the effects of “simmering” trade tensions, may need to buy more coverage after the United States late on Monday designated China a currency manipulator.
China’s offshore yuan hit a record low on Tuesday, fuelling fresh selling in global financial markets, after the United States branded Beijing a “currency manipulator” in a rapidly escalating trade war between the world’s two biggest economies.
Formally declaring China a currency manipulator may scratch a long-term itch for U.S. President Donald Trump, but the move provides few new tools that have not already been employed in two years of trade negotiations with Beijing.
Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the U.S.-China trade war.
Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the U.S.-China trade war.
Japan’s Fair Trade Commission is investigating Apple Inc over its pressure on Japanese parts makers and whether it abused its position of power in violation of antimonopoly rules, the Mainichi newspaper reported on Tuesday.
Valero Energy Corp shut a hydrocracking unit (HCU) and sulfur recovery unit (SRU) at its 335,000-barrel-per-day (bpd) Port Arthur, Texas, refinery on Monday, said sources familiar with plant operations.
It’s 10 o’clock at night, and Benjamin Arnold’s day is just beginning. The former Goldman Sachs trader is gearing up to trade equities in Asia from his small office thousands of miles away in Park City, Utah.
William Ackman’s Pershing Square Capital Management has sold its positions in Automatic Data Processing Inc and United Technologies Corp and built a new position in a company whose name has not been disclosed, a source familiar with the matter said on Monday.
Automotive supplier Bosch expects sales to stagnate this year, its chief executive told a German newspaper, blaming the worsening outlook in the car industry that has also hurt the company’s rivals.
S&P 500 futures dropped 1.2% late on Monday after the U.S. Treasury Department labeled China as a currency manipulator.
Two Democratic senators asked U.S. Defense Secretary Mark Esper on Monday if “outside” influence caused him to delay awarding a $10 billion cloud computing contract, after President Donald Trump suggested Amazon.com Inc should not win it.
Automotive supplier Bosch expects sales to stagnate this year, its chief executive told a German newspaper, blaming the worsening outlook in the car industry that has also hurt the company’s rivals.
The summer sell-off is finally here – and not all U.S. investors are rattled by it.
William Ackman’s Pershing Square Capital Management has sold its positions in Automatic Data Processing and United Technologies and built a new position in a company whose name has not been disclosed, a source familiar with the matter said on Monday.
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