By Chibuike Oguh NEW YORK (Reuters) -The dollar was on track for a weekly gain against major currencies, including the Swiss franc, yen and euro on Friday, after a U.S.-UK trade deal increased optimism about upcoming U.S.-China talks. Financial markets headed into the weekend with the focus squarely on trade negotiations between Washington and Beijing …
Dollar set for weekly gain amid US trade deal optimism Read More »
(Reuters) – Sony Pictures said on Friday it had entered into a multi-year contract extension with its motion picture group’s chairman and CEO, Tom Rothman. Rothman joined the studio in 2013 as chairman of TriStar Pictures, before being named chairman of the motion picture group in February 2015. His contract was extended in 2021, with the …
Sony Pictures extends Rothman’s contract as CEO of its motion picture group Read More »
By Dhwani Pandya, Praveen Paramasivam, Ruma Paul and Manoj Kumar TIRUPPUR, India/DHAKA, Bangladesh (Reuters) -In a garment hub in south India, R.K. Sivasubramaniam is fielding requests from Walmart and Costco who want to sidestep higher U.S. tariffs faced by rival Asian suppliers, Bangladesh and China. But rows of idle sewing lines at his factory lay …
Walmart turns to India to avoid high tariffs, but garment workers scarce Read More »
TOKYO (Reuters) – Panasonic Holdings said on Friday it will cut 10,000 staff and expects to book restructuring costs of 130 billion yen ($896.06 million) this business year as part of an overhaul of the company. The electronics manufacturer will make the staff cuts mainly in the current business year, with half of them planned …
Panasonic to cut 10,000 jobs, expects $900 million in restructuring costs Read More »
SANTIAGO (Reuters) -Chinese metals group Tsingshan said on Friday it remains interested in opportunities to invest in Chile’s downstream lithium sector, following reports that it had scrapped plans for a lithium cathode plant in the Andean country. Reuters reported this week that Tsingshan and Chinese automaker BYD were backing out of plans to build major …
China’s Tsingshan ‘has not given up’ on Chile lithium plans despite plant retreat Read More »
(Reuters) -A U.S. senator introduced a bill on Friday that would direct the Commerce Department to require location verification mechanisms for export-controlled AI chips, in an effort to curb China’s access to advanced semiconductor technology. Called the “Chip Security Act,” the bill calls for AI chips under export regulations, and products containing those chips, to …
BEIJING (Reuters) – China’s commerce minister met with the head of Russia’s ministry of economic development in Moscow on Thursday, according to a Chinese ministry statement on Friday. The two officials had in-depth exchanges on economic, trade and investment cooperation as well as responding to U.S. reciprocal tariffs, the statement said. China recently decided to …
China’s commerce minister meets with head of Russia’s economic development ministry Read More »
By Doina Chiacu (Reuters) – U.S. President Donald Trump said on Friday that 80% tariffs on Chinese goods “seems right,” making his first suggestion of a specific alternative to the 145% levies he has imposed on China ahead of weekend talks to contain a trade war between the world’s two biggest economies. U.S. Treasury Secretary …
Ahead of key China talks, Trump says 80% tariff ‘seems right’ Read More »
(Reuters) -Delta Air Lines and Korean Air Lines will acquire an aggregate 25% stake in Canada’s WestJet Airlines for $550 million from private equity firm Onex Corp, the U.S. carrier said on Friday. The deal, where Delta will invest $330 million for a 15% stake in WestJet and Korean Air will invest $220 million for …
Delta, Korean Air to buy 25% stake in Canada’s WestJet Read More »
LONDON (Reuters) -Britain on Friday announced a 1 billion pound ($1.33 billion)funding deal for a new AESC gigafactory which will manufacture electric vehicle batteries. Japanese-headquartered battery maker AESC will build the facility in Sunderland, northern England. The government said it would provide batteries for up to 100,000 EVs per year – a six-fold increase on …
Britain announces 1 billion pound AESC gigafactory funding deal Read More »
