Business & Finance News
The United States will raise tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent effective on Friday, according to a notice posted to the Federal Register on Wednesday.
The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
U.S. stocks opened lower for the third straight day on Wednesday, as worries persisted over the outcome of U.S.-China trade negotiations.
Australia’s anti-trust regulator blocked a A$15 billion ($11 billion) merger between TPG Telecom and Vodafone’s Australian joint venture on competition grounds on Wednesday, knocking shares in the firms involved.
U.S. President Donald Trump said on Wednesday he would be happy to keep tariffs on Chinese imports in place, adding that China is mistaken if it hopes to negotiate trade later with a Democratic presidential administration.
The United States will raise tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports effective Friday, according to a notice posted to the Federal Register on Wednesday.
Wall Street was set to extend a two-day losing streak on Wednesday, as investors fretted over the outcome of a crucial round of U.S.-China trade negotiations.
Sharp Corp will re-enter the U.S. TV market later this year, the Japanese electronics company said on Wednesday, adding it had effectively regained the license for its own TV brand sold to China’s Hisense Group four years ago.
Uber drivers in London and New York started a day of strikes on Wednesday to protest the disparity between gig-economy conditions and the sums that investors are likely to make in Friday’s blockbuster stock market debut.
Thomson Reuters Corp on Wednesday reported stronger-than-expected quarterly profit, helped by strong demand for information it sells to legal professionals, and reaffirmed its forecast for the rest of this year and 2020.
Nomura analysts see a high likelihood further negotiations between the United States and China will be needed before a final trade deal is reached, dragging out a dispute between the world’s two biggest economies that has kept investors on edge.
Wendy’s Co reported better-than-expected quarterly revenue and profit on Wednesday, as the U.S. burger chain benefited from higher royalty fees and the launch of its premium burgers that come with avocado, bacon and barbecue chicken.
World shares tumbled towards five-week lows on Wednesday as renewed trade tensions and concern over the strength of the global economy drove investors to the safety of bonds and the Japanese yen, with the latter hitting a six-week high against the dollar.
U.S. stock index futures fell on Wednesday, ahead of a crucial round of trade negotiations between the United States and China this week.
Tesla Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production.
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