Fiat Chrysler and PSA of France said December 18 that they had agreed to the terms of a merger that would create the world’s fourth largest automaker. The companies said they had signed a binding agreement formalizing the merger, announced in October. The accord brings Fiat Chrysler and PSA, the maker...
The Australian dollar marked time on December 18 ahead of monthly employment data release while its New Zealand cousin suffered from a steep drop in the prices of dairy, the country’s top export. Trading in major currencies was generally slow as investors headed into the holiday season awaiting further details...
WULONGQIAO, China A devastating disease spreading from China has wiped out roughly one-quarter of the world’s pigs, reshaping farming and hitting the diets and pocketbooks of consumers around the globe. China’s unsuccessful efforts to stop the disease may have hastened the spread — creating problems that could bedevil Beijing and global...
WASHINGTON Trump administration officials predicted big gains for the economy from a newly announced trade deal with China, but the economic losses sustained during a bruising 19-month trade war will not be easy to make up. In a televised interview December 15, President Donald Trump’s top trade negotiator praised the progress...
Ana Swanson and Alan Rappeport (New York Times) The United States and China have settled on final terms of a phase one trade deal, moving both countries closer to signing a pact that President Donald Trump originally announced in October, four people familiar with the negotiations said. Trump met with his...
TOKYO (Reuters) Oil prices fell December 9 after data showing China’s overall exports of goods and services shrank for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-U.S. trade war. Brent futures were down 33 cents, or 0.5 percent,...
(Reuters) Australian shares fell early last week, with banking stocks leading losses, as investors waited to see if Washington will proceed with new tariffs on China that could change the course of their months-long trade war. The S&P/ASX 200 index snapped a three-session rally to end 0.3 percent, or 23.1 points,...
Hideyuki Sano(Reuters) TOKYO The dollar held firm December 9 after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war. The dollar index stood almost flat at 97.704 in early Asian trade, after rising 0.3...
Joyce Lee(Reuters) SEOUL The founder of the defunct Daewoo Group, Kim Woo-choong, has died after watching the conglomerate he built into a symbol of South Korea’s manufacturing prowess become one of its biggest corporate failures, crushed by debt. Kim, who died December 9 at 83 after battling chronic illness, had led what...
Ana Swanson(New York Times) WASHINGTON The U.S. has spent two years chipping away at the World Trade Organization, criticizing it as unfair, starving it of personnel and disregarding its authority, as President Donald Trump seeks to upend the global trade system. The Trump administration is expected to go one step further and...