Business & Finance News
China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters, in a move that could be aimed at curbing outflows of dollars and bolstering its yuan currency as economic growth slows.
Wall Street main indexes slumped more than 2.5% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
China made no concessions to the United States after President Donald Trump postponed threatened tariffs on some Chinese imports until mid-December, senior U.S. officials said on Wednesday, adding that talks aimed at resolving the trade fight would continue and markets should be patient.
China is asking that it and the United States remove all additional tariffs in line with a consensus reached between the two sides in Osaka, Japan, at the G20 summit at the end of June, the editor in chief of China’s Global Times newspaper wrote on Wednesday.
Oil prices sank roughly 5% on Wednesday after disappointing economic data from China and Europe revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Macy’s Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Oil prices sank more than 4% on Wednesday after global demand fears were revived by weak economic data from China and Europe and an unexpected build in U.S. crude inventories.
Ford Motor Co said on Wednesday it was extending warranty on clutch and related hardware in 560,000 Focus and Fiesta cars that were reported to have had problems with their six-speed transmission.
Equity markets tanked and oil prices fell sharply on Wednesday after a closely watched bond indicator pointed to the growing risk of a U.S. recession that was heightened by data showing Germany’s economy in contraction and China’s worsening.
Wall Street main indexes slid more than 2% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Macy’s Inc slashed its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said.
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Federal Communications Commission chairman Ajit Pai on Wednesday circulated a draft order that would grant approval to the $26 billion tie-up of T-Mobile Us Incand Sprint Corp.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
