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Updated: 11 hours 56 min ago

As Fed seeks policy advice, officials visit a struggling New Jersey city

Sat, 05/18/2019 - 03:06
Two top Federal Reserve officials went to Camden, New Jersey, on Friday, taking a different reading of the pulse of the U.S. economy by visiting what is by one measure the country's lowest-income city, as the central bank seeks advice on how to do a better job.

Huawei and suppliers make plans to face U.S. trade blacklist - Nikkei

Sat, 05/18/2019 - 02:09
China's Huawei Technologies Co Ltd is asking its top Asian chipmakers to maintain deliveries after Washington decided to curb the telecom giant's access to American technology, the Nikkei reported on Friday, citing sources familiar with the matter.

Tensions with China help U.S. see importance of North American trade -Mexican official

Sat, 05/18/2019 - 02:04
Tense U.S.-China relations are helping the United States understand the importance of a North American trade bloc, a senior Mexican diplomat said on Friday, after negotiating a deal that ended steel tariffs in the region.

U.S. lifts tariffs on Canadian, Mexican metals in boost for trade pact

Sat, 05/18/2019 - 02:02
The United States struck deals on Friday to lift tariffs on steel and aluminium imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact.

Wynn Resorts in talks to sell $2.6 billion Massachusetts casino to MGM

Sat, 05/18/2019 - 01:44
Wynn Resorts Ltd is in talks to sell its nearly finished $2.6 billion casino outside of Boston to rival MGM Resorts International, the two companies said on Friday.

Fed's Harker in no rush on rates, worried about low inflation expectations

Sat, 05/18/2019 - 01:37
A top Federal Reserve official on Friday said he is worried that falling inflation expectations could make it harder for the U.S. central bank to do its job but that he still sees "at most" one rate hike this year.

Lions Gate offered to sell Starz to CBS for $5.5 billion - sources

Sat, 05/18/2019 - 01:36
Lions Gates Entertainment offered to sell cable channel Starz to CBS Corp for $5.5 billion after rebuffing a lower offer, two sources familiar with the matter told Reuters.

Corrected: Take Five: From yuan to U.S. stores, it's all about trade

Sat, 05/18/2019 - 01:30
The Sino-U.S. trade war is getting more acrimonious. After China responded to U.S. tariff increases with additional levies of its own, Washington blacklisted telecoms giant Huawei, prompting Chinese state social media to ramp up the war of words. All that's taken the yuan past 6.9 per dollar, despite authorities' efforts to snuff out speculation by adjusting daily exchange rate fixings and draining cash from markets.

Corporations, events face boycott threats over U.S. abortion laws

Sat, 05/18/2019 - 01:24
Companies operating in Alabama and Georgia, ranging from Toyota to Netflix, as well as an Alabama music festival faced boycott threats on Friday after the states passed near-total bans on abortion.

Tariffs could lead to markdowns in retail shares

Sat, 05/18/2019 - 01:18
U.S. retailer stocks have moved from buoyant to bruised this year and the intensification of the U.S.-China trade war makes them especially vulnerable because consumer products would be targeted in the next round of threatened tariff increases.

Trump declares some auto imports pose national security threat

Sat, 05/18/2019 - 01:14
U.S. President Donald Trump on Friday declared that some imported vehicles and parts pose a national security threat but delayed a decision for as long as six months on whether to impose tariffs to allow for more time for trade talks with the European Union and Japan.

Wall Street falls as trade anxieties spike

Sat, 05/18/2019 - 00:50
Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years.

Exclusive: FBI targets Johnson & Johnson, Siemens, GE, Philips in Brazil graft case - Sources

Sat, 05/18/2019 - 00:03
The U.S. FBI is investigating corporate giants Johnson & Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters.

IMF's Lagarde says U.S.-China trade war could be risk for world economic outlook

Fri, 05/17/2019 - 23:55
The trade war between the United States and China could be a risk to the world economic outlook if it is not resolved, International Monetary Fund Managing Director Christine Lagarde told Reuters on Friday during a visit to Uzbekistan.

Global markets: Fresh trade uncertainty rattles stocks, hits yuan

Fri, 05/17/2019 - 23:38
A major global stocks index fell on Friday and the Chinese yuan weakened as financial markets were again jostled by uncertainty over global trade tensions.

In China's heartland, once-flush shoppers turn cautious

Fri, 05/17/2019 - 11:27
Dressed in a smart black pantsuit behind the wheel of her pearl-white Audi, Zhao Na has come a long way from her roots in rural Henan province, in central China.

China's central bank won't let yuan weaken past seven to the dollar: sources

Fri, 05/17/2019 - 11:24
China's central bank will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank's thinking said.

Exclusive: Kazakhstan to seek damages from Transneft for tainted oil loaded in Ust-Luga

Fri, 05/17/2019 - 11:22
Kazakh oil flowing via Russia to be loaded on tankers at the Baltic Sea port of Ust-Luga has been contaminated and Kazakhstan plans to seek compensation from Russian pipeline monopoly Transneft, a senior Kazakh energy official said.

Chinese firms' missing $6 billion tests regulators' resolve

Fri, 05/17/2019 - 11:11
Cash is considered among the hardest assets for a company to fake, which is why the disappearance of a combined $6.1 billion from two Chinese companies has dumbfounded investors and forced regulators to take action.

Nissan says Saikawa retained as CEO, putting focus on Renault ties

Fri, 05/17/2019 - 11:10
Nissan Motor Co said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault pushed for a change in the Japanese automaker's leadership.