Business & Finance News
The United States and China slapped tit-for-tat duties on $34 billion worth of the other’s imports on Friday, with Beijing accusing Washington of triggering the “largest-scale trade war” ever in a sharp escalation of their months-long conflict.
No one will gain from a trade war, Chinese Premier Li Keqiang said on Friday, speaking hours after the United States and China slapped tit-for-tat duties on $34 billion worth of the other’s imports.
Shares in Germany’s troubled Deutsche Bank jumped by up to 6 percent on Friday following a magazine report that JPMorgan and Industrial and Commercial Bank of China (ICBC) may be interested in taking a stake.
Oil slipped toward $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, although oil supply disruptions lent support.
Switzerland’s second-biggest bank Credit Suisse has carved out a new role to lead its handling of sexual harassment claims and examine group-wide policies, its CEO told employees on Friday.
U.S. satellite group EchoStar urged Britain’s Inmarsat to open talks about a takeover approach worth $3.2 billion to shareholders just hours before a deadline for the American company to make a firm offer was due to expire.
Washington imposed tariffs on $34 billion of Chinese imports on Friday and Beijing has said it will retaliate with punitive measures on U.S. products worth a similar amount, including soybeans, pork and cotton.
At an abandoned train station in Buenos Aires’ working-class suburb of San Miguel, hundreds of Argentines gather with bags of clothes, rice, flour and sugar to trade.
Growing up in Germany, Mark Schneider was pushed to become fluent in English by his father, who believed it would give him an edge.
The dollar fell on Friday as U.S. tariffs on Chinese imports took effect, but a muted reaction in currency markets suggested the escalation had largely been priced in by investors focusing on a U.S. jobs report due later in the day.
The imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing a three-week peak, but concerns about the conflict escalating capped gains.
U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, with Beijing saying it had no choice but to respond in kind, as the two trading giants escalated a bitter row.
China’s Foreign Ministry said on Friday that Beijing has already begun implementing tariffs on some U.S. goods in retaliation for U.S. duties on $34 billion in Chinese imports, which took effect the same day.
China’s retaliatory tariffs on $34 billion worth of U.S. goods took effect at 12:01 p.m. in Beijing (0401 GMT) on Friday, the official Xinhua news agency said, citing the customs office.
BEIJING/WASHINGTON (Reuters) – U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, with Beijing saying it had no choice but to respond in kind, as the two trading giants escalated a bitter row.
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