The Trump administration on Tuesday delayed imposing a 10% import tariff on laptops, cell phones, video game consoles and some other products made in China that had been scheduled to start next month, in an abrupt pull-back from a hardline stance on Chinese trade.
The Trump administration on Tuesday released a 21-page list detailing an extensive array of Chinese imports for which it has decided to delay a new 10% tariff from Sept. 1 to Dec. 15, ranging from frozen fish to fireworks, sports equipment and baby gear.
U.S. stocks surged almost 2% on Tuesday as the Trump administration said it would delay 10% tariffs on some Chinese products, including laptops and cell phones, driving a 5% surge in shares in iPhone maker Apple Inc.
Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery expert and native Venezuelan to run a company facing legal attacks and working under U.S. sanctions against parent Petroleos de Venezuela (PDVSA).
Oil prices rose more than 3% on Tuesday after the United States said it will remove some products from its China tariff list, easing concerns over a global trade war that has pummeled the market in recent months.
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U.S. stocks turned sharply higher on Tuesday after the U.S. Trade Representative said additional tariffs on some Chinese goods, including cell phones and laptops, will be delayed to Dec. 15.
Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support.
U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions.
Wall Street was set to open lower on Tuesday, tracking a global shift out of riskier assets, as investors grappled with simmering geopolitical tensions and fears of a recession due to a drawn-out U.S.-China trade war.
Snap Inc said Tuesday it will launch a new version of its Spectacles sunglasses, which will have the capability of capturing photos and videos and uploading them directly to its unit Snapchat, as the technology company works to develop its augmented reality features.
Share markets fell for a third straight day on Tuesday as fears about a drawnout global trade war, protests in Hong Kong and a crash in Argentina’s peso currency kept investors huddled in bonds, gold, and the Japanese yen for safety.
CBS Corp and Viacom Inc have reached an agreement in principle, sources familiar with the matter told Reuters on Tuesday, reuniting media mogul Sumner Redstone’s U.S. entertainment empire after 13 years apart.
Exxon Mobil is considering an exit from the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects.
Amazon.com Inc is in late-stage talks to buy as much as 10% of India’s Future Retail Ltd , Bloomberg reported on Tuesday, citing people familiar with the matter.
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