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China restrained in trade tariffs and won't accept U.S. “blackmail” – state media

BEIJING/SINGAPORE (Reuters) – China’s state media said on Saturday the government’s retaliatory tariffs on $60 billion of U.S. goods showed rational restraint and accused the United States of blackmail. Late on Friday, China’s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, with the extra levies ranging from 5 to 25 percent on a total value of goods less than half of that proposed by U.S. President Donald Trump’s administration. …read more […]

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State media says China's response to latest U.S. tariffs restrained, rational

BEIJING/SINGAPORE (Reuters) – China’s state media said on Saturday the government’s retaliatory tariffs on $60 billion in U.S. goods showed rational restraint, although in an opinion piece it still admonished the United States for blackmail and bullyboy tactics. Late on Friday, China’s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, with the extra levies ranging from 5 to 25 percent on a total value of goods less than half of that proposed by U.S. President Donald Trump’s administration. …read more […]

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Trading Ideas

Is Snap Stock a Buy Before Its Second-Quarter Earnings?

Social media company Snap (NYSE:SNAP) is set to report highly anticipated second-quarter numbers after the bell on Tuesday, Aug. 7. Over the past few months, SNAP stock has traded largely sideways, bouncing around $13 for most of June and July. This is just the calm before the storm that will ensue after Snap reports second-quarter earnings. …read more […]

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U.S. court allows release of bench transcripts in AT&T merger fight

An appeals court that is hearing the U.S. Justice Department’s fight with AT&T (T.N) over its merger with Time Warner agreed on Friday to allow the release of transcripts of bench conferences that the public was unable to listen in on during the trial in a lower court. The U.S. Court of Appeals for the D.C. Circuit said in an order on Friday that the government would be allowed to release transcripts of the conversations that generally occurred between Judge Richard Leon, who tried the case, and one or more lawyers from the Justice Department, AT&T and Time Warner. …read more […]

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Business News

Wells Fargo faces tax credit probes, new problems with mortgage borrowers

Wells Fargo & Co is facing government probes into its use of low-income housing tax credits, and has also set aside $8 million to compensate borrowers who were incorrectly denied mortgage modifications under a federal assistance program, the bank said in a regulatory filing on Friday.

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