Business News
China says U.S. should not use IP to suppress other countries’ development
China’s foreign ministry said on Friday that the United States should not use intellectual property to suppress development in other countries.
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Business News
Oil futures edge lower, set for big weekly declines, on oversupply concerns
Oil prices fell on Friday as markets digested big swings earlier in the week that have left both major benchmarks facing a second weekly loss and largely shrugged off a warning about tightness in spare capacity.
Business News
Chinese hotel bumps up rates for Americans by 25 percent amid trade war: Global Times
A hotel in the Chinese city of Shenzhen plans to charge its U.S. guests an extra 25 percent amid a trade war between Beijing and Washington, according to the Global Times, a tabloid published by the ruling Communist Party’s People’s Daily.
Business News
Asian shares extend bounce but trade war caps gains
Asian shares extended their recovery on Friday, as investors shifted their focus to bullish expectations for Wall Street earnings and as a weaker yen supported Japanese stocks, though Sino-U.S. trade tensions have tempered exuberance.
Business News
Oil prices mixed, but set for big weekly falls
Oil prices were little changed on Friday as markets digested big swings earlier in the week that have left both major benchmarks facing a second weekly loss and largely shrugged off a warning about tightness in spare capacity.
Business News
China’s record trade surplus with U.S. risks further inflaming trade tensions
China’s trade surplus with the United States swelled to a record in June as its exports accelerated broadly, a result that could further inflame a bitter trade dispute with Washington.
Business News
Silicon Valley employees flex newfound political muscles
Employees at several of the world’s biggest technology companies have been exercising newfound political power where they work, pushing their bosses on business ethics with help from established and fledgling nonprofit groups.
Business News
Dollar buoyant near 10-day peak, bolstered by higher U.S. yields
The dollar was buoyant near a 10-day peak on Friday, supported by Treasury yields that edged higher on expectations the U.S. inflation rate will rise.
Business News
Asian shares extend rebound but trade fears dog China stocks
Most Asian share markets rose on Friday, heartened by gains on Wall Street fueled by expectations of strong U.S. earnings, but China’s markets wobbled as investors braced for the impact of broadening, tit-for-tat Chinese-U.S tariffs.
Business News
Apollo Global, CEO Leon Black sued by Caldera Holdings
Apollo Global Management and its Chief Executive Leon Black are being sued by Caldera Holdings, a venture founded by Imran Siddiqui, a former managing director at the buyout firm, a court filing on Thursday showed.
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Justice Department to appeal approval of AT&T acquisition of Time Warner
The U.S. Justice Department said on Thursday it would appeal a federal judge’s approval of AT&T Inc’s (T.N) $85.4 billion acquisition of Time Warner, raising the prospect barely a month after the deal closed that it could be undone. AT&T was sued by the Justice Department on antitrust grounds, saying that the deal would harm consumers, but U.S. District Judge Richard Leon last month approved the deal, allowing it to move forward following a lengthy trial. Leon ruled that the tie-up between AT&T’s wireless and satellite businesses with Time Warner’s movies and television shows was legal under antitrust …read more […]
Business News
Oil edges lower, set for big weekly decline
Oil prices edged lower on Friday and were set for a second weekly fall, as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production.
Business News
Chinese imports to U.S. ports start peaking early amid tariff threat
Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.
Business News
Dollar steady against peers; China trade data in focus
The dollar held firm near a 10-day high on Friday boosted by expectations U.S. inflation will pick up, although concerns about an escalation in U.S.-China trade tensions limited the greenback’s gains.
Business News
Apple launches $300 million green energy fund in China
Apple Inc will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country.