WASHINGTON (Reuters) – U.S. tech companies would be forced to disclose if they allowed American adversaries, like Russia and China, to examine the inner workings of software sold to the U.S. military under proposed legislation, Senate staff told Reuters on Thursday. FILE PHOTO: A man holds a laptop computer as cyber code is projected on
(Reuters) – U.S. stocks dropped on Thursday after President Donald Trump canceled a planned summit with North Korean leader Kim Jong Un, while a slide in oil prices and bank stocks also weighed as investors grappled with fresh U.S. protectionist plans. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE)
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) said on Thursday it will reduce global staff levels to well below 90,000 from the current 97,000, as part of a broad restructuring to reduce costs and restore profitability. FILE PHOTO: The headquarters of the Deutsche Bank is pictured in Frankfurt, Germany, March 19, 2018. REUTERS/Ralph Orlowski/File Photo The
WASHINGTON (Reuters) – The Trump administration is considering a proposal to impose new tariffs on imported vehicles invoking a national security law that was used to impose tariffs on aluminum and steel, an administration official and three industry officials who had been briefed on the matter said. FILE PHOTO: U.S. President Donald Trump speaks at
(Reuters) – U.S. stocks fell on Wednesday after President Donald Trump injected a fresh dose of uncertainty into the outcome of U.S.-China trade talks by suggesting that any possible deal needed “a different structure.” FILE PHOTO: Traders work at the Citadel Securities post on the floor of the New York Stock Exchange (NYSE) in New
EAST PEORIA, Ill. (Reuters) – Orders for the mining machines and construction bulldozers made at this sprawling Caterpillar Inc. (CAT.N) factory in central Illinois have jumped, in general, three-fold over the past year. A worker uses a hydraulic press to squeeze sand into a mold that will be used to make parts at Kirsh Foundry
BRUSSELS (Reuters) – European Union proposals to open its markets wider to U.S. products, including cars, appear not to have persuaded Washington to lift the threat of import tariffs on EU steel and aluminium, the bloc’s trade chief said on Tuesday. Metal coils are seen at ArcelorMittal steel plant in Ghent, Belgium, May 22, 2018.
BEIJING (Reuters) – Washington neared a deal to lift its ban on U.S. firms supplying Chinese telecoms gear maker ZTE Corp, sources said on Tuesday, and Beijing announced tariff cuts on car imports, further easing trade tensions between the world’s two largest economies. The reprieve for ZTE, hit by a seven-year ban in April that
JOHANNESBURG/BRUSSELS/LONDON (Reuters) – Sitting outside the ramshackle Vimba Tavern in Johannesburg’s Alexandra township, Patrick Mashego swigs from a one-liter bottle of Carling Black Label, South Africa’s most popular beer. A woman serves a one litre bottle of AB Inbev’s Carling Balck Label beer at a bar in Cape Town, South Africa, May 11, 2018. Picture
(Reuters) – Influential U.S. magazine Consumer Reports will not recommend Tesla Inc’s (TSLA.O) Model 3 sedan, saying on Monday it braked slower than a full-sized pickup truck, taking the shine off a day of gains for shares in Elon Musk’s electric car company. The Tesla Model 3 is displayed during a media preview of the
LONDON (Reuters) – Luxury British carmaker Aston Martin remained in the black in the first quarter of 2018, although pretax profit fell due to a weaker dollar and investment on a series of model launches. FILE PHOTO: The Aston Martin Lagonda Vision Concept car is pictured during the 88th Geneva International Motor Show in Geneva,
MILAN (Reuters) – Italy must present the European Commission with a plan for its exit from lender Monte dei Paschi (BMPS.MI) by 2019, Chief Executive Marco Morelli told daily Corriere della Sera. FILE PHOTO: People stand in front of Monte dei Paschi bank headquarters, downtown Siena, Italy, October 27, 2017. Picture taken October 27, 2017.
(Reuters) – General Electric Co (GE.N) is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec Corp (WAB.N), a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. FILE PHOTO: The logo of General Electric Co. is pictured at the Global Operations
WASHINGTON (Reuters) – The United States and China have agreed to drop their tariff threats on billions of dollars worth of each country’s goods while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin (R) is seen as he and a U.S.
WASHINGTON/KABUL (Reuters) – U.S. President Donald Trump’s decision to pull out of the Iran nuclear accord and re-impose sanctions on Tehran threatens to derail a project to help build Afghanistan’s economy, endangering a key goal of the U.S. strategy to end America’s longest war. An Afghan security guard stands while supply trucks carrying containers for
WASHINGTON (Reuters) – China has agreed to take measures to boost imports from the United States to reduce America’s trade deficit, the two countries said on Saturday, although without mentioning the $200 billion target the White House had touted earlier. FILE PHOTO: The YM Bamboo, a container ship operated by the China Ocean Shipping Company
WASHINGTON/BEIJING (Reuters) – China is “meeting many” Trump administration demands to cut its trade surplus with the United States, but a definitive deal to resolve deep trade differences could take a while to develop, White House economic adviser Larry Kudlow said on Friday. “China has come to trade,” Kudlow told reporters at the White House
WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump said on Friday he was determined to stop China from “taking our jobs, taking our money” as U.S. and Chinese negotiators met for a second day to try to avert a tariff war and find ways to boost U.S. exports to China. China earlier denied assertions from U.S.
NEW YORK (Reuters) – The S&P 500 ended lower on Friday after a choppy trading session as bank and chipmaker stocks weighed on the index and investors grappled with U.S.-China trade talks. All three major U.S. stock indexes posted a weekly loss as the markets reacted to reports from the U.S.-China trade summit, rising U.S.
PARIS/NEW YORK (Reuters) – Airbus’s hopes of winning an immediate respite from slow sales of its A330neo jetliner with an order from United Airlines are dwindling, leaving a gap in future production weeks before it is due to enter service, industry sources said on Friday. FILE PHOTO: Logo of Airbus is pictured at the Airbus
TOKYO (Reuters) – Asian stocks were steady on Friday amid caution over developments in U.S.-China trade negotiations, while the dollar perched near a five-month peak after the benchmark U.S. Treasury yield hit its highest in seven years. Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, February
WASHINGTON (Reuters) – President Donald Trump said on Thursday that China had become “very spoiled” on trade with the United States and cast doubt on the success of his efforts to rebalance the relationship with Beijing as high-stakes U.S.-China negotiations opened in Washington. Trump, speaking to reporters at the White House, said China had “ripped
(Reuters) – Some employees in a Wells Fargo & Co (WFC.N) unit that handles business banking improperly changed information on documents related to corporate customers, the Wall street Journal reported on Thursday, citing people familiar with the matter. FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto,
SINGAPORE/MUMBAI (Reuters) – Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016. FILE PHOTO: Motorists drives past an electronic board at a
WASHINGTON (Reuters) – U.S. industrial production increased solidly in April amid an acceleration in manufacturing and mining output, the latest indication that the economy was gathering momentum early in the second quarter. The upbeat report from the Federal Reserve on Wednesday came on the heels of data on Tuesday showing a pickup in consumer spending
FRANKFURT (Reuters) – The chairman of Deutsche Boerse’s (DB1Gn.DE) supervisory board said on Wednesday he would not insist on serving another full three-year term amid criticism that he is partly to blame for management missteps. FILE PHOTO: Theodor Weimer, new CEO of German stock exchange Deutsche Boerse AG, informs the media about the planned renovations
ZURICH (Reuters) – Novartis (NOVN.S) General Counsel Felix Ehrat will leave the Swiss drugmaker over his role in a $1.2 million contract it struck with the lawyer for U.S. President Donald Trump, saying on Wednesday the pact was legal but an error. FILE PHOTO: Swiss drugmaker Novartis’ logo is seen at the company’s plant in
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Tuesday said it has more than doubled its investment in generic drugmaker Teva Pharmaceutical Industries Ltd (TEVA.TA), and confirmed it has become Apple Inc’s (AAPL.O) second-largest shareholder. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual
LONDON (Reuters) – Facebook has failed to fully answer 39 questions from British lawmakers examining data privacy and fake news, a parliamentary committee said on Tuesday, adding that it would ask the social media giant once again for the missing details. FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of
LONDON (Reuters) – The shipping industry has long been criticized by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. FILE PHOTO: Workers carry a rope line to fasten a decommissioned ship at the Alang shipyard in the western Indian state of Gujarat, March 27, 2015.