BEIJING (Reuters) – China will exempt Tesla Inc’s (TSLA.O) electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on Friday, a concession made amidst trade tensions with the United States. Tesla sees China as o... More »
NEW DELHI (Reuters) – Amazon.com (AMZN.O) defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant’s website. New e-commerce foreign investment rules that took e... More »
BEIJING (Reuters) – China’s foreign ministry reiterated on Tuesday that it had not heard of any recent telephone call between the United States and China on trade, and said it hopes Washington can stop its wrong actions and create conditions for talks. Ministr... More »
BERLIN (Reuters) – Germany’s economy contracted on weaker exports in the second quarter, detailed data showed on Tuesday, highlighting the Achilles heel of Europe’s largest economy due to escalating trade disputes and waning foreign demand. The Federal Statist... More »
SYDNEY (Reuters) – Australia’s central bank would consider unconventional monetary options if the cash rate was cut to 0.5%, Deputy Governor Guy Debelle said on Tuesday, though he hoped such heavy policy adjustments would not be needed. Debelle said the Reserv... More »
PARIS (Reuters) – French consumer confidence levels in August held at their highest levels in a year and a half, official data showed on Tuesday, while a measure of confidence within French industry rose slightly. The INSEE national statistics office said cons... More »
BEIJING (Reuters) – The spread between seaborne iron ore heading to China and iron ore at China’s ports has widened to the highest in at least two years, following an increase in shipments from Australia and Brazil as disrupted mines gradually come back on tra... More »
TOKYO (Reuters) – Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China after positive comments by Beijing, calming nerves after a round of tit-for-tat tariff hikes had sent markets reeling. Brent crude LCOc1 was up by ... More »
PARIS (Reuters) – French manufacturing companies have lowered their investment plans from only a few months ago, according to a quarterly survey from the INSEE statistics agency on Tuesday. Manufacturers plan on increasing investments in 2019 by 6%, down from ... More »
LONDON (Reuters) – Britain will make a decision on whether to allow China’s Huawei equipment to be used in its 5G networks in the autumn, the digital minister Nicky Morgan said. “We will make the right decision for the UK. I would hope we could do something by... More »
ALGIERS (Reuters) – On the face of it, Algeria’s state-dominated economy has weathered six months of turmoil well, with flightloads of public sector workers heading abroad for holidays even as protesters who ousted the veteran president in April now target his... More »
TOKYO (Reuters) – Asian stocks rose in step with their global peers on Tuesday while safe-haven bonds retreated, after U.S. President Donald Trump softened his tone against China and predicted the two countries would be able to reach a trade deal. In early Eur... More »
SHANGHAI (Reuters) – Contract chipmaker GlobalFoundries has sued larger rival Taiwan Semiconductor Manufacturing Co (TSMC) for patent infringement, seeking to stop the defendant’s customers including Apple from importing affected products to the United States ... More »
(Reuters) – Papa John’s International Inc (PZZA.O) is set to name Rob Lynch as the pizza chain’s new chief executive officer, Bloomberg reported late on Monday, barely 19 months after Steve Ritchie took over as top executive following a bitter board dispute. L... More »
NORMAN, Okla./BOSTON (Reuters) – An Oklahoma judge on Monday ordered Johnson & Johnson (JNJ.N) to pay $572.1 million to the state for its part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum that was substantially less than ... More »
SAO PAULO/RIO DE JANEIRO (Reuters) – Brazil’s planned privatization of eight Petroleo Brasileiro SA (PETR4.SA) refineries has lured several of the world’s largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. ... More »
(Reuters) – An Oklahoma judge on Monday ruled that Johnson & Johnson (JNJ.N) was liable for its part in fueling the opioid epidemic and ordered the drugmaker to pay $572 million following a trial in a lawsuit brought by the state’s attorney general. J&J said i... More »
BIARRITZ, France (Reuters) – France and the United States reached a deal to end a standoff over a French tax on big internet companies, though U.S. President Donald Trump declined to say whether his threat of a retaliatory wine tax was off the table as a resul... More »
BIARITTZ, France (Reuters) – France and the United States have reached a deal to end a standoff over a French tax on big internet companies, French President Emmanuel Macron said on Monday. U.S. President Donald Trump had threatened to hit back with tariff act... More »
(This August 21 story corrects to make clear Kiva a nonprofit organisation, not charity, paragraph 1.) By Cooper Inveen (Reuters) – Kiva, a San Francisco-based tech nonprofit organization, is using blockchain to create an online ID database in Sierra Leone all... More »
BERLIN (Reuters) – Germany’s cartel office said on Monday it would appeal a regional court decision to suspend restrictions it had placed on Facebook’s data collection practices to the country’s highest court. A court in Duesseldorf had earlier suspended a Feb... More »
HOUSTON (Reuters) – A crew of veteran U.S. astronauts and aviators are training in Houston for a manned mission to the International Space Station aboard Boeing’s new Starliner spacecraft, which could also be used to take tourists into space on future missions... More »
(Reuters) – Bank of America Corp (BAC.N) Chief Executive Officer Brian Moynihan on Wednesday played down fears of a potential U.S. recession, saying strong consumer spending could keep the economy growing. “The underlying consumer is doing well and making more... More »
(Reuters) – Microsoft Corp (MSFT.O) said on Monday it will use chipmaker Nvidia Corp’s (NVDA.O) real-time ray tracing technology to provide the software company’s Minecraft video game players more realistic graphics on personal computers. Real-time ray tracing... More »
LONDON (Reuters) – Global equity markets rose on Monday on signs that major economies would look to prop up stalling growth with fresh stimulus measures, easing pressure on bonds and dampening demand for perceived safe-havens such as gold. Hopes of government ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump and top White House officials dismissed concerns that economic growth may be faltering, saying on Sunday they saw little risk of recession despite a volatile week on global bond markets, and insisting their tr... More »
MORRISTOWN, New Jersey (Reuters) – U.S. President Donald Trump on Sunday said he did not want the United States to do business with China’s Huawei even as the administration weighs whether to extend a grace period for the company. Reuters and other media outle... More »
LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
(Reuters) – European stock markets rose for the second session running on Monday, with Frankfurt shares leading a recovery from last week’s six-month lows as investors cheered signs of moves by Germany and China to counter slowing growth. Friday’s report that ... More »
LONDON (Reuters) – British working-age households are growing more cautious about making major purchases amid concerns about Brexit and a possible recession, a monthly consumer survey showed on Monday. The IHS Markit Household Finance Index dropped to a three-... More »
(Reuters) – President Donald Trump said on Sunday that he had spoken with Apple Inc’s Chief Executive Tim Cook about the impact of U.S. tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd. Trump said Cook “mad... More »
LONDON (Reuters) – Uber (UBER.N) appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Tra... More »
LONDON (Reuters) – The euro steadied on Monday after suffering its biggest weekly drop in nearly two months as risk appetite gradually returned to global markets after a week of turmoil. With hopes of fiscal stimulus from Germany growing and steps by China ove... More »
BERLIN (Reuters) – Online fashion retailer Zalando (ZALG.DE) has launched a pilot to deliver orders placed by customers in Paris on the website of Adidas (ADSGn.DE) as it extends moves to allow brands to use the logistics network it has built for its own ecomm... More »
BEIJING/SHANGHAI (Reuters) – China’s announcement of key interest rate reforms over the weekend has fueled expectations of an imminent reduction in corporate borrowing costs in the struggling economy, boosting share prices on Monday. The People’s Bank of China... More »
ROME (Reuters) – Italy’s ruling League party would seek tax cuts in the 2020 budget by raising the country’s deficit a little bit, its economics spokesman said on Monday. League chief Matteo Salvini pulled the plug last week on its coalition government with th... More »
ZURICH (Reuters) – Novartis (NOVN.S) plans to answer a U.S. senator who demanded details about data manipulation related to its gene therapy Zolgensma, amid scrutiny of the Swiss drugmaker’s decision to delay informing regulators until after the treatment’s ap... More »
LONDON (Reuters) – Bond yields in the euro zone were off record low levels on Monday, as a calmer tone settled in world markets and focus turned to the prospect of fiscal stimulus in Germany. Germany has the fiscal strength to counter any future economic crisi... More »
SINGAPORE (Reuters) – China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter t... More »
VIENNA (Reuters) – An unnamed Novartis executive sold 925,400 Swiss francs ($946,000) worth of shares less than three weeks before the U.S. Food and Drug Administration (FDA) announced data from tests of its gene therapy Zolgensma had been manipulated. Novarti... More »
SINGAPORE/WASHINGTON (Reuters) – The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with t... More »
HONG KONG (Reuters) – Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd (BABA.N) on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timeta... More »
(Reuters) – Amazon.com Inc on Friday defeated an appeal by the U.S. Internal Revenue Service in what the online retailer has called a $1.5 billion dispute over its tax treatment of transactions with a Luxembourg subsidiary. In a 3-0 decision, the 9th U.S. Circ... More »
(Reuters) – Airbnb Inc recorded $9.4 billion in total booking value in the first quarter, up 31% from the year-ago quarter, a source familiar with the matter said on Friday, a key number that could help pull in investors as the home-sharing company plans its f... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
ZURICH (Reuters) – ABB (ABBN.S) Chairman Peter Voser said he was convinced he had got the right man to transform the Swiss engineering group after it announced Sandvik (SAND.ST) boss Bjorn Rosengren would become its next chief executive. Rosengren will take ov... More »
SEOUL (Reuters) – South Korea said on Monday it plans to drop Japan from its “white list” of countries with fast-track trade status from September, a tit-for-tat move that deepens a diplomatic and trade rift between the two countries. The tighter trade regulat... More »
SHANGHAI (Reuters) – Worries that a prolonged Sino-U.S. trade war could tip the world and U.S. economies into recession weighed on Asian equities on Monday, offsetting a welcome a lift from Chinese shares and a stronger-than-expected daily fixing for the yuan.... More »
SYDNEY (Reuters) – The dollar remained on the defensive against the safe-haven yen on Monday as the Sino-U.S. trade dispute looked set to drag on with no settlement in sight, while holidays in Japan and Singapore made for very thin trading. Confusion still lin... More »
ZURICH (Reuters) – ABB’s (ABBN.S) largest shareholder Investor AB (INVEb.ST) is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday. “We welcome the appointment of B... More »
OSLO (Reuters) – Norway’s central bank is expected to keep interest rates on hold on Aug. 15 while signaling that a hike will likely follow later this year amid solid growth, above-target inflation and currency weakness, a Reuters poll of economists showed. De... More »
LONDON (Reuters) – 1/ READY FOR A SCARY EURO ZONE GDP SHOW? Fears of a major downturn in euro zone powerhouse Germany grew this week following “scary” industrial output figures for June and reports due over the coming week that will hold those concerns up to t... More »
WASHINGTON (Reuters) – It has become a jarring and frequent contradiction. President Donald Trump blames the Federal Reserve for putting the U.S. economy at risk while data shows an economy in “reasonably good” shape, as the head of the central bank recently s... More »
(Reuters) – Goldman Sachs Group Inc (GS.N) said on Sunday that fears of the U.S.-China trade war leading to a recession are increasing and that Goldman no longer expects a trade deal between the world’s two largest economies before the 2020 U.S. presidential e... More »
VIENNA (Reuters) – Austrian sensor specialist AMS (AMS.S) triggered a bidding war for Osram (OSRn.DE) on Sunday, saying it was ready to pay $3.8 billion for the German lighting group’s shares, 10% more than finance investors Bain Capital and Carlyle (CG.O) hav... More »
WASHINGTON (Reuters) – China is unlikely to face serious consequences from the Trump administration’s decision to label it a currency manipulator given the apparent lack of G7 and IMF support for the move, former and current U.S. and G7 officials said. The U.S... More »
(Reuters) – BlackRock Inc’s (BLK.N) new private equity fund Long Term Private Capital (LTPC) has completed its maiden investment, taking up an $875 million stake in Authentic Brands Group LLC, making it the largest investor in the U.S.-based entertainment comp... More »
LAS VEGAS (Reuters) – At a conference where hackers can try their hand at picking locks and discover cyber vulnerabilities in a makeshift hospital, they can also endeavor to break into the control units of cars and take over driving functions. Those efforts at... More »
MOSCOW (Reuters) – A Tesla Model 3 electric car caught fire after crashing into a parked tow truck on a Moscow motorway late on Saturday, with the Tesla driver saying he had failed to see the vehicle with which he collided. Asked in a video published on REN TV... More »
NEW YORK/FRANKFURT (Reuters) – Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11% high... More »
(Reuters) – Walmart Inc said on Friday it has asked employees at its stores in the United States to take down signs and playable demos of violent video games but made no changes to its policy on selling firearms. In an internal memo, Walmart also asked its emp... More »
DONGGUAN, China/HONG KONG (Reuters) – Huawei Technologies unveiled on Friday its proprietary operating system for smartphones and other devices, as U.S. trade restrictions imposed in May threaten to cut the Chinese firm’s access to U.S. technologies such as An... More »
(Reuters) – Shares of Uber Inc fell 10% in early trading on Friday after the ride-hailing service missed most Wall Street targets in its quarterly earnings report, in sharp contrast to upbeat numbers from U.S. rival Lyft Inc a day earlier. None of the Wall Str... More »
ORLANDO, Fla. (Reuters) – Elon Musk’s SpaceX is expanding its facilities in Florida to make room for the space company’s forthcoming super heavy-lift launch vehicle dubbed Starship, according to a draft of the plans seen by Reuters on Friday. Starship, a 384-f... More »
BEIJING (Reuters) – Chinese state media said on Sunday the United States has shipped several million tonnes of soybeans to China since the two countries’ leaders met in June, although U.S. government data shows that the volume was much less. The U.S.-China tra... More »
LONDON (Reuters) – Britain’s Financial Conduct Authority reminded consumers on Monday that they have only one month left to check if they were mis-sold loan insurance. Britain’s banks have already paid out more than 35 billion pounds ($43.2 billion) in compens... More »
TOKYO (Reuters) – Japanese Economy Minister Toshimitsu Motegi said on Monday he will hold ministerial-level talks with U.S. Trade Representative Robert Lighthizer on Aug. 1 and 2 in Washington D.C. Motegi made the comment at a news conference after a meeting o... More »
(Reuters) – European shares recovered from early losses on Monday, fueled by a surge in the London Stock Exchange Group on its potential deal to buy financial data firm Refinitiv, while investors waited anxiously for an expected U.S. interest rate cut. Shares ... More »
LONDON, (Reuters) – Britain’s housing market picked up modestly in June with a stronger-than-expected rise in mortgage approvals, but consumer lending growth slowed to a fresh five-year low, Bank of England figures showed on Monday. Brexit worries have weighed... More »
WASHINGTON (Reuters) – The U.S. Justice Department said it was greenlighting T-Mobile US Inc’s request to acquire rival Sprint Corp after the companies agreed to divest Sprint’s prepaid businesses including Boost Mobile to Dish Network Corp in an effort to cre... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said his administration would not grant Apple Inc any relief for tariffs on parts made in China for its Mac Pro computer and later added he thought the firm would build a plant in Texas. “Apple will ... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may in... More »
BEIJING (Reuters) – China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure. While more upbeat June factory output and retail sales o... More »
LONDON (Reuters) – Bitcoin slumped more than 10% over the weekend to a two-week low as fears of a crackdown of cryptocurrencies grew on mounting scrutiny of Facebook’s planned Libra digital coin. Bitcoin fell 11.1% from Friday to $9,855 early on Monday, its lo... More »
MANCHESTER, England (Reuters) – Mathematician Alan Turing, who helped Britain win World War Two with his code-cracking but committed suicide after being convicted for homosexuality, will appear on the Bank of England’s next 50-pound banknote, the BoE said on M... More »
NEW YORK (Reuters) – Amazon.com Inc’s Prime Day is now a major marketing opportunity and shopping event in the annual calendar for other U.S. retail companies, rivaling the Thanksgiving holiday’s Black Friday as a driver of sales. Walmart Inc, Target Corp and ... More »
LONDON (Reuters) – British retailer Sports Direct (SPD.L) has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in Decem... More »
MILAN (Reuters) – China’s Huawei Technologies will invest $3.1 billion in Italy over the next three years, the chief executive of the telecoms giant’s Italian unit, Thomas Miao, said on Monday. Speaking at an event in Milan, Miao said Huawei would add 1,000 jo... More »
SINGAPORE (Reuters) – Singapore Exchange’s (SGXL.SI) regulatory unit is proposing imposing price limits for daily stock auctions to prevent incidents such as the $41 billion flash crash in January that briefly roiled shares in conglomerate Jardine Matheson (JA... More »
HONG KONG/NEW YORK/BRUSSELS (Reuters) – Scepticism over AB InBev’s high valuations doomed Budweiser APAC’s IPO of up to $9.8 billion – poised to be the world’s biggest this year – investors and bankers said, putting would-be floats on notice that careful prici... More »
JOHANNESBURG (Reuters) – Zimbabwe’s annual inflation almost doubled to a new 10-year high of 175.66% in June, data showed on Monday, stirring memories of years of economic chaos. Prices of basic goods from sugar to cooking oil to building material soared durin... More »
(Reuters) – Oklahoma’s attorney general is expected on Monday to urge a judge to find Johnson & Johnson responsible for flooding the market with painkillers and fueling the U.S. opioid epidemic, as the first trial in nationwide litigation over the drug crisis ... More »
(Reuters) – European shares trod water on Monday as worrying comments on Germany’s industrial and services sectors curbed optimism stemming from China’s encouraging factory output and retails sales data. Germany’s Economy ministry said its industrial activity ... More »
NEW DELHI/MUMBAI (Reuters) – The Indian government’s budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million rupees ($292,269) has rattled many foreign portfolio investors(FPIs). The realization that the new ta... More »
WASHINGTON (Reuters) – The U.S. may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior U.S. official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company coul... More »
(Reuters) – India’s slowing economic growth, water shortage and regulatory hurdles have taken its business sentiment in June to the lowest level since 2016, a survey by market research firm IHS Markit showed on Monday. The aggregate of private-sector companies... More »
BERLIN (Reuters) – More than 2,000 workers at seven Amazon (AMZN.O) sites across Germany have gone on strike over pay for at least two days, labor union Verdi said on Monday. The walkouts, under the motto ‘No more discount on our incomes”, started overnight an... More »
BEIJING (Reuters) – China’s pork output fell by less than expected in the first half as the country tackles a devastating disease outbreak, although official data showed conflicting figures on the size of the decline in the hog herd. China produced 24.7 millio... More »
SHANGHAI (Reuters) – China’s Xiaomi Corp (1810.HK) has taken a stake of roughly 6% in compatriot chip designer VeriSilicon Holdings Co Ltd, as the smartphone maker revamps its years-long pursuit of success in semiconductors which it sees as central to driving ... More »
SAO PAULO (Reuters) – Brazilian cotton producers in the state of Mato Grosso on Thursday sued Bayer AG (BAYGn.DE), seeking to cancel the chemical company’s patent protection for its Bollgard II RR Flex genetically modified cotton seed, according to a statement... More »
FRANKFURT/SYDNEY/HONG KONG (Reuters) – Deutsche Bank (DBKGn.DE) shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia. The... More »
TOKYO (Reuters) – The Bank of Japan on Monday cut its assessment on factory output for two of the country’s nine regions and warned that more companies were feeling pinched by the U.S.-China trade war than three months ago. But the central bank maintained its ... More »
(Reuters) – European shares declined on Monday on sobering expectations of an aggressive interest rate cut this month by the U.S. Federal Reserve, but the losses were limited by a 2.7% jump in Deutsche Bank after it announced job cuts and launched a major over... More »
SHANGHAI (Reuters) – China’s central bank could cut its benchmark policy rate for the first time in four years if the U.S. Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up support for the slowing econom... More »
ZURICH (Reuters) – Julius Baer (BAER.S) has appointed Philipp Rickenbacher as its new chief executive officer, the Swiss private bank said on Monday, opting for a company insider to drive the wealth manager’s future growth. His appointment is the latest leader... More »
SEOUL (Reuters) – South Korea’s President Moon Jae-in has urged Japan to withdraw export controls on high-tech materials bound for South Korea as a row over forced wartime labor threatened to disrupt global supplies of South Korean memory chips and smartphones... More »
BERLIN (Reuters) – German exports rebounded more strongly than expected in May but failed to fully recover from a slump a month earlier, data showed on Monday, as trade conflicts cool Europe’s largest economy in the second quarter. Exports grew by 1.1% on the ... More »
SYDNEY (Reuters) – Asian shares were a sea of red on Monday after strong U.S. job gains tempered expectations the Federal Reserve will deliver a large rate cut, while the Turkish lira hovered near two-week lows on worries about central bank independence. Share... More »
TOKYO (Reuters) – External demand is likely to rebound from its current soft patch in the latter half of this year, a senior Bank of Japan official overseeing the Kinki region in western Japan said on Monday. Domestic demand in the region, including capital ex... More »
(Reuters) – British Airways owner IAG said on Monday the UK Information Commissioner’s Office (ICO) intends to impose a penalty of 183.4 million pounds ($229.8 million) for the theft of customer data from the airline’s website last year. The airline revealed l... More »
