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Updated: 1 hour 4 min ago

Global stocks tumble, yen rallies as Trump threatens to counter new China tariffs

Sat, 08/24/2019 - 02:30
Stocks, the dollar and oil prices fell on Friday while safe havens rose after U.S. President Donald Trump threatened to further escalate his trade war with China "this afternoon," following a new round of retaliatory tariffs from Beijing.

Wall Street plunges as U.S.-China trade war intensifies

Sat, 08/24/2019 - 02:28
Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures.

Fed's Clarida says global economy has worsened since July: CNBC

Sat, 08/24/2019 - 02:23
U.S. Federal Reserve Vice Chairman Richard Clarida said on Friday the global economic outlook has worsened since July.

Oil prices slide as U.S.-China trade war escalates

Sat, 08/24/2019 - 02:06
Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world's two largest economies.

Trump calls on U.S. firms to exit China as trade war escalates

Sat, 08/24/2019 - 01:59
President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

On-off trade tariffs wreak havoc on U.S. company planning

Sat, 08/24/2019 - 01:49
Win Cramer thought his company was out of the firing line in the escalating Sino-U.S. trade war after his "Made-in-China" wireless headphones, speakers and earbuds were taken off Washington's tariff list a year ago.

Sinclair completes purchase of divested Fox Regional Sports Networks

Sat, 08/24/2019 - 01:43
Sinclair Broadcast Group Inc on Friday completed a $9.6 billion deal to acquire Fox's 22 regional sports networks after the U.S. Justice Department gave its consent.

Corrected: Auto companies in India cut more jobs, halt production to tackle slowdown

Sat, 08/24/2019 - 01:39
(This Aug 22 story corrects paragraph 5 to remove the number of cuts at Denso and adds company response)

Responding to Trump, UPS and FedEx say they already fight illegal drug shipments

Sat, 08/24/2019 - 01:22
FedEx Corp and United Parcel Service Inc said on Friday they already work closely with law enforcement to stop illegal shipments from entering the country after U.S. President Donald Trump ordered delivery firms to refuse packages of the powerful painkiller fentanyl from China.

Fed's commitment to act upstaged by Trump's furore

Sat, 08/24/2019 - 01:21
Federal Reserve Chair Jerome Powell said the central bank would "act as appropriate" to keep the U.S. economy healthy, stopping short of committing to rapid-fire rate cuts and drawing fire from President Donald Trump.

World needs to end risky reliance on U.S. dollar: Bank of England's Carney

Sat, 08/24/2019 - 00:53
Bank of England Governor Mark Carney took aim at the U.S. dollar's "destabilising" role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency.

UK economy headed for stagnation in third quarter: Bank of England's Carney

Sat, 08/24/2019 - 00:41
Bank of England Governor Mark Carney said Britain's economy appeared to be on course to stagnate in the current quarter, and underlying growth still looked muted even when the effect of Brexit volatility was stripped out.

Qualcomm wins a pause in enforcement of FTC ruling

Sat, 08/24/2019 - 00:00
Qualcomm Inc won a partial stay against the enforcement of a sweeping antitrust ruling in a lawsuit brought by the U.S. Federal Trade Commission (FTC), according to a court filing on Friday.

U.S. trade group says 'unrealistic' for American retailers to exit China

Fri, 08/23/2019 - 23:48
The U.S. National Retail Federation (NRF) said on Friday it is "unrealistic" for American retailers to move out of China, the world's second-largest economy, as 95% of the world's consumers live outside the United States.

India Inc grows impatient as economy dips and Modi is distracted

Fri, 08/23/2019 - 23:45
When Prime Minister Narendra Modi was re-elected in May with a sweeping majority, Indian stock markets jumped to all-time highs as investors anticipated big bang pro-business reforms to revive a flagging economy.

For some, currency wars may not be fun or easy to win

Fri, 08/23/2019 - 23:39
It's a maxim for private investors: Don't fight the Fed.

Merck Canada says new drug price regulations are unconstitutional

Fri, 08/23/2019 - 23:37
Merck Canada and a group of pharmaceutical companies are challenging the constitutionality of new regulations meant to lower patented drug prices, the company said in a statement on Friday, in a late bid to derail reforms that would hurt pharmaceutical companies' earnings.

Trump presses U.S. companies to close China operations

Fri, 08/23/2019 - 23:30
President Donald Trump said on Friday he was ordering U.S. companies to look at ways to close their operations in China and make more of their products in the United States instead, sending U.S. markets down sharply in a new rhetorical strike at Beijing as trade tensions mounted.

India rolls back tax hike on investors; outlines steps to boost sentiment

Fri, 08/23/2019 - 22:57
India is rolling back recent tax hikes on foreign and domestic equity investors and is accelerating a capital infusion of $10 billion into state-run banks, the finance minister said late on Friday, in an attempt to boost market sentiment and revive the slowing economy.

China strikes back at U.S. with new tariffs on $75 billion in goods

Fri, 08/23/2019 - 22:33
China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world's top two economies.