LONDON (Reuters) – Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as the trade dispute between the United States and China escalated further.
Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as the trade dispute between the United States and China escalated further. The yuan also hit a five-month low overnight after U.S. President Donald Trump’s threat to impose a 10 percent tariff on another $200 billion of Chinese goods drew warnings from Beijing about $50 billion of retaliatory penalties on U.S. goods. Europe’s main equity benchmarks sank 1 to 1.5 percent in early trading and Wall Street futures were pointing to similar falls there later, while safe-haven government bonds and the Japanese yen …read more […]
VIENNA (Reuters) – Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world’s two biggest economies.
HONG KONG/SHANGHAI (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
MUNICH (Reuters) – Audi’s board of directors will resume talks on Tuesday to address a leadership crisis at Volkswagen’s most profitable brand, sources familiar with the matter said, following Audi chief Rupert Stadler’s arrest.
SHANGHAI/HONG KONG (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
ZURICH/LONDON (Reuters) – Swiss drugmaker Roche is paying $2.4 billion to buy the rest of Foundation Medicine (FMI) , raising its bet on the U.S. genomic profiling group’s ability to personalize cancer care.
(This version of the story has been refiled to add dropped word “boards” in paragraph one.)
TOKYO (Reuters) – Asian stocks sank on Tuesday and Shanghai shares tumbled to near two-year lows as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
President Donald Trump is searching for more China-made goods to tax. As the U.S. president threatens tariffs on an additional $200 billion in Chinese imports, he may find it difficult to spare electronic goods, clothing and textiles that account for half of all Chinese exports to the U.S. Last week, Trump’s $50 billion hit list of made-in-China goods largely focused on high-technology industries such as robotics, aerospace and cars. “They will focus on electronics,” said Fielding Chen at Bloomberg Economics. …read more […]
ZURICH (Reuters) – Swiss drugmaker Roche Holding AG has agreed to pay $137 per share to buy the rest of Foundation Medicine (FMI) , a $2.4 billion transaction that values the U.S. genomic profiling group at $5.3 billion, the partners said on Tuesday.
TOKYO (Reuters) – A sell-off in Chinese stocks drove Asian equities to a four-month low on Tuesday, as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
HOUSTON (Reuters) – Major U.S. energy companies including Plains All American Pipeline , Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico.
WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation, as the trade conflict between the world’s two biggest economies quickly escalated.
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