Business & Finance News
Russia suffered a $1 billion shortfall in export revenues in the first two weeks of May after the discovery of contaminated oil disrupted pipeline flows to Europe, a Reuters calculation showed.
U.S. President Donald Trump on Monday rejected a New York Times report that raised questions about multiple Deutsche Bank transactions involving entities controlled by him and his son-in-law Jared Kushner.
Stock markets weakened on Monday as concerns mounted about an escalating fallout from a U.S. crackdown on China’s Huawei Technologies.
Spain’s Telefonica is reviewing a U.S. order which hit Chinese telecoms giant Huawei with severe sanctions, to see if it will affect its customers, a spokeswoman for the group said on Monday.
Trading companies Vitol and Unipec are sending around 700,000 tonnes of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data.
Shares in Deutsche Bank set a new low on Monday, just days before investors gather for their annual general meeting.
China accused the United States on Monday of harboring “extravagant expectations” for a trade deal, underlining the gulf between the two sides as U.S. action against China’s technology giant Huawei began hitting the global tech sector.
Huawei said on Monday it would continue to provide security updates and services for its smartphones and tablets after being barred from Google updates to its Android operating system.
Huawei said it would continue to provide security updates and services for its smartphones and tablets after Google said it would comply with an order barring the Chinese company from updates to its Android operating system.
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1 billion).
European stocks slipped on Monday as concerns about an escalating fallout from a U.S. crackdown on China’s Huawei Technologies offset a slightly more positive tone on trade.
European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
China’s official Xinhua news agency condemned the spreading of “false news” on Monday after some websites published a year-old alert announcing a ceasefire in the Sino-U.S. trade dispute.
Asian shares clawed back some of last week’s losses as investors cheered apparent election wins for conservative incumbents in Australia and India, while broader global trade worries eased after Washington offered to lift some tariffs in North America.
Cases of European firms forced to transfer technology in China are increasing despite Beijing saying the problem does not exist, a European business lobby said, adding that its outlook on the country’s regulatory environment is “bleak”.
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