By Karen Brettell and Amanda Cooper (Reuters) – The dollar held onto earlier losses on Thursday after Federal Reserve Chair Jerome Powell failed to offer any strong clues that the U.S. central bank was likely to pause rate cuts in the near-term, after a widely expected 25 basis point reduction. Traders also closed out some …
Dollar drops as Fed cuts rates, traders unwind some Trump trades Read More »
LONDON (Reuters) – U.S. President Donald Trump’s pledge to impose a universal 10% tariff on imports and 60% on Chinese goods is likely only a starting point for negotiations, ratings agency S&P Global said in a note on Thursday. Tariffs are unlikely to be imposed at those levels, but were Trump to follow though, the …
Trump unlikely to impose full tariff plan – S&P Global Read More »
(Reuters) – Steven Madden executives said on Thursday the company was working quickly to shift product sourcing out of China to other countries after Donald Trump’s U.S. presidential election victory. In February, Trump said if he came to power, he would impose tariffs on China again, which could exceed 60%, putting a lot of strain …
Steven Madden to cut sourcing from China on tariff worries under Trump Read More »
(Reuters) – A manufacturer of Philips, Sharp and Sony televisions listed in China has halted work at its Russian factory near St Petersburg due to payment problems with foreign suppliers for spare parts, the plant told Reuters on Thursday. Russia is grappling with payment issues due to Western sanctions over its February 2022 invasion of …
China-listed TV maker halts work at Russian factory over payment issues Read More »
(Reuters) -Qualcomm shares rose 4% on Thursday after the chip designer’s strong quarterly revenue forecast fanned investor optimism about a China-led recovery in the smartphone market. The company, the biggest supplier of smartphone chips, will add around $8 billion to its market value, if the gains hold. It forecast both first-quarter sales and adjusted profit …
Qualcomm advances on smartphone market revival, Chinese handset launches Read More »
By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) -Japan’s Nippon Steel hopes to close its $15 billion deal to buy US Steel by year-end before Republican Donald Trump retakes the White House in January, a senior executive said, as the acquisition is core to its future growth. Nippon Steel, Japan’s top steelmaker and the fourth …
Nippon Steel seeks to close US Steel deal before Trump returns to White House Read More »
ROME (Reuters) – Italy’s government plans to cut funds previously set aside to support the country’s automotive industry to avoid funding cars made in China, the economy minister said on Thursday. As part of next year’s budget, Rome wants to divert 4.6 billion euros ($4.96 billion) out of the 5.8 billion euros earmarked for the …
Italy cuts automotive industry support to avoid funding cars made in China Read More »
By Brenda Goh SHANGHAI (Reuters) – Audi on Thursday unveiled a new electric vehicle brand in China whose cars will sport just the name AUDI and not its signature four-ring logo, a move aimed at attracting younger customers in the world’s largest auto market. The premium marque owned by Germany’s Volkswagen partnered with Chinese automaker …
Audi unveils new EV brand in China without four ring logo Read More »
(Reuters) -Concerns over a wider conflict in the Middle East have prompted international airlines to suspend flights to the region or to avoid affected air space. Below are some of the airlines that have cancelled services to and from the region: AEGEAN AIRLINES The Greek airline has cancelled flights to and from Beirut until Dec. …
Factbox-Airlines suspend flights as Middle East tensions rise Read More »
By Neha Arora and Manvi Pant NEW DELHI (Reuters) – India’s steel imports from China were “unfairly priced” and prolonged shipments could hurt investment plans of the domestic steel industry, the chief executive of Tata Steel told Reuters on Thursday. “It’s not that Chinese steel is more competitive…they just are able to keep selling steel …
