Month: May 2019

Italy’s Deputy Prime Minister and League leader Matteo Salvini said he would hail a takeover bid by Italy’s UniCredit for German rival Commerzbank.

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Oil edged higher to $73 a barrel on Friday, supported by a host of supply cuts and concern of further disruption to Middle East shipments as tensions rise, and was heading for a weekly gain.

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By Christoph Steitz, Tom Käckenhoff, Edward Taylor and Arno Schuetze

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Deere & Co on Friday reported a lower-than-expected quarterly profit and cut its full-year outlook, as an escalating trade war between the United States and China threatens to hit U.S. exports of key commodities, hurting farm incomes and demand for Deere’s equipment.

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U.S. stock index futures dipped on Friday, following three consecutive sessions of gains, as trade worries returned after a Chinese newspaper took a hard stance on the tariff dispute between the United States and China.

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A senior official of China’s ruling Communist Party said the trade dispute with the U.S. could reduce China’s growth pace this year by as much as 1 percentage point, the South China Morning Post reported on Friday, citing an unnamed source.

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Carrefour, Europe largest retailer, is exploring the sale of a minority stake in its loss-making business in China and has started sounding out potential buyers, people familiar with the matter said.

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The United States must show sincerity if it is to hold meaningful trade talks, China said on Friday, after U.S. President Donald Trump dramatically raised the stakes with a potentially devastating blow to Chinese tech giant Huawei.

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The FBI is investigating corporate giants Johnson & Johnson, Siemens, General Electric and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters.

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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 had earlier pushed for a change in the Japanese automaker’s leadership.

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Chip experts are calling out Huawei for its claims that it could ensure a steady supply chain without U.S. help, saying the technology the Chinese telecoms network gear maker buys from American companies would be “hard to replace”.

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Oil edged higher toward $73 a barrel on Friday, supported by real and threatened supply disruptions in the Middle East and heading for a weekly gain.

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World share markets suffered a fresh bout of risk aversion on Friday after tough words on trade from China, while bets on a new pro-Brexit leader in Britain whipped the pound towards its worst week since October.

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Once global regulators clear Boeing Co’s 737 MAX to fly again after deadly crashes, airlines which have put their fleets into mechanical hibernation since March will scramble to begin the biggest ungrounding effort in history.

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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.

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