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...
Praveen Paramasivam (REUTERS) Lululemon Athletica Inc. forecast holiday quarter profit largely below analysts’ expectations as the athleisure pioneer invests heavily to launch new products to fend off intensifying competition. The company’s shares fell a little over 4 percent in extended trading. They have nearly doubled in value this year as a...
Alan Rappeport (New York TImes) WASHINGTON The Trump administration has formally objected to the World Bank’s plans to continue lending to China, the latest flashpoint in a long-running battle between the world’s largest economies. The objection comes at a delicate moment, as Washington and Beijing try to reach a Phase 1 trade...
Clyde Russell (Reuters) LAUNCESTON, Australia Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mild northern winter. However, there is one exception. South African coal export prices at Richards Bay have surged in recent months,...
MILAN, (Reuters) Italy’s biggest bank UniCredit said on Tuesday it would buy back its stock this year to improve returns for investors, and shed 9 percent of staff under a new plan to 2023 to cut costs by 1 billion euros ($1.1 billion) in Western Europe. Highlighting the challenge facing retail...