Trade war ramps up as US threatens $200b in Chinese goods

The United States and China have fired the next shots in their escalating trade war, with Washington threatening to impose fresh tariffs on another $200 billion in Chinese goods and Beijing vowing to retaliate.
11 July 2018, 18:00 PM

China's exports seen solid as trade war heats up

China's exports growth is expected to have cooled only slightly in June, possibly further boosting a trade surplus with the United States in a test for Beijing as it tries to weather a volley of US tariffs on its goods that many fear could harm its economy.
11 July 2018, 18:00 PM

After Tesla deal, Shanghai to speed up cancellation of foreign ownership limits

Shanghai will accelerate efforts to cancel restrictions on foreign investment in the auto manufacturing sector, a government official said on Wednesday, a day after Tesla said it would build a wholly owned auto plant in the city.
11 July 2018, 18:00 PM

Shell curbs North Sea oil production as strikes bite

Oil major Royal Dutch Shell said Tuesday it had suspended production on its North Sea field of Knarr after staff working the Norwegian continental shelf went on strike, adding to supply worries in the world's oil market.
10 July 2018, 18:00 PM

SoftBank tightens grip on Yahoo Japan via $2b deal with Altaba

SoftBank Group is increasing its stake in Yahoo Japan through a $2 billion, three-way deal with US firm Altaba to deepen ties with the internet heavyweight ahead of an IPO of its telecoms unit.
10 July 2018, 18:00 PM

Frito-Lay unit sales power PepsiCo's profit, revenue beat

PepsiCo Inc reported second-quarter revenue and profit that topped Wall Street estimates as higher sales in its Frito-Lay unit in North America helped offset sluggish demand for beverages.
10 July 2018, 18:00 PM

German investor mood slumps on trade war fears

Confidence among investors in Germany plunged sharply in July, the ZEW economic institute said Tuesday, reaching its lowest level since August 2012 over signs that a trade war was far from abating.
10 July 2018, 18:00 PM

Japan's Takeda gains US approval for $62b Shire buy

Takeda Pharmaceutical Co Ltd on Tuesday said it has received US approval for its $62 billion acquisition of London-listed Shire Plc, taking the Japanese firm one step closer to its goal of becoming a global top 10 drugmaker.
10 July 2018, 18:00 PM

Starbucks to phase out plastic straws by 2020

Global coffee giant Starbucks announced Monday it is to eliminate all plastic straws from its 28,000 stores by 2020, becoming the latest corporate giant to take steps to combat pollution from disposable plastic.
10 July 2018, 18:00 PM

Runner to distribute Bajaj spare parts

Bajaj Auto has signed an agreement with Runner Trade Park Ltd, a sister concern of Runner Group, for the distribution of spare parts of its motorcycles and three-wheelers in Bangladesh.
10 July 2018, 18:00 PM

Gold touches two-week peak

Gold extended its recovery on Monday, touching the strongest in nearly two weeks as the dollar weakened, the Chinese yuan rebounded and some investors reversed their bearish gold bets. Spot gold was up 0.7 percent at $1,262.86 an ounce by 0945 GMT, its highest since June 26.
9 July 2018, 18:00 PM

Cairn says Indian tax office sold $216m of Vedanta shares

Cairn Energy said on Monday it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company in a dispute over retrospective tax dues.
9 July 2018, 18:00 PM

Oil prices climb for US sanctions on Iran

Oil prices rose on Monday as increased global demand and US efforts to shut out Iranian output using sanctions outweighed drilling data suggesting US shale production would climb.
9 July 2018, 18:00 PM

China tells banks to cut lending rates for small businesses

China's financial regulator has told banks to “significantly cut” lending rates for small firms in the third quarter in comparison with the first quarter, two people with direct knowledge of the matter told Reuters on Monday.
9 July 2018, 18:00 PM

Citigroup, with limited options, hopes to lure deposits digitally

Citigroup Inc is facing a unique dilemma among the four largest US banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.
9 July 2018, 18:00 PM

Could Saudi Arabia replace all the barrels lost from Iran sanctions?

The United States wants to eliminate all Iran's crude oil exports from November, and is relying on Saudi Arabia and other Opec and non-Opec members to fill the gap in supplies.
9 July 2018, 18:00 PM

Amazon to bring 1,700 jobs to Italy in 2018

Amazon will bring 1,700 new jobs to Italy by the end of the year, the online commerce giant announced Monday, bringing its number of employees working in the country's groaning economy to 5,200.
9 July 2018, 18:00 PM

Nissan admits falsifying emissions data on cars made in Japan

Nissan admitted Monday that data on exhaust emissions and fuel economy had been deliberately "altered", dealing a blow to the Japanese car giant's efforts to recover trust after an inspection scandal last year.
9 July 2018, 18:00 PM

US adds 213,000 jobs in June

Employment in the world's largest economy continued its brisk pace in June but the unemployment rate jumped as more people joined the job hunt, according to a government report Friday.
7 July 2018, 18:00 PM

Canada says joblessness rose slightly in June

Canada's unemployment rate rose slightly last month to six percent of the active population, the national statistical institute announced Friday. That was slightly higher than analysts' predictions of a 5.8 percent rate.
7 July 2018, 18:00 PM