By Mei Mei Chu and Ella Cao BEIJING (Reuters) -China suspended on Tuesday the soybean import licences of three U.S. firms and halted imports of U.S. logs, stepping up its retaliation for additional U.S. tariffs on Chinese goods. Earlier in the day, China also imposed import levies covering $21 billion worth of U.S. agricultural and …
China targets US soybeans, lumber in stepped-up response to Trump tariffs Read More »
By Howard Schneider WASHINGTON (Reuters) – The smallest U.S. businesses shed jobs in February and average revenue fell, a sign of pressure in one vulnerable sector of the economy that preceded the Trump administration’s announcement of sweeping new import taxes that could make the outlook even cloudier. An index developed by software firm Intuit, which …
US small businesses cut jobs in February, Intuit data show Read More »
By Casey Hall SHANGHAI (Reuters) – As Starbucks tries to revive its faltering business in China, analysts say strategic partnerships and returning to its roots as a place where customers come for a coffee “experience” offer the best bet to beat intense competition and deflationary woes. The coffee giant is already under pressure globally with …
Analysis-Starbucks’s China comeback relies on right partner, brewing back the vibe Read More »
By Chibuike Oguh, Johann M Cherian and Sukriti Gupta NEW YORK (Reuters) – U.S. stocks ended lower on Tuesday, with the tech-heavy Nasdaq veering near correction territory, as trade tensions escalated following U.S. President Donald Trump’s new tariffs on Canada, Mexico and China. The 25% tariffs on imports from Mexico and Canada, along with doubled …
Nasdaq nears correction territory dragged down by trade tensions Read More »
(Reuters) -Discount retailer Ross Stores forecast annual sales and profit below estimates on Tuesday, joining its larger peers in indicating a dip in consumer demand due to rising inflationary pressures. U.S. consumer spending saw its first decline in nearly two years this January, with marked slumps in sales at furniture, clothing and electronic retailers. Forecasts …
Ross Stores forecasts annual sales, profit below estimates on weaker demand Read More »
By Stephen Nellis (Reuters) – GlobalFoundries Chief Executive Officer Thomas Caulfield said on Tuesday that U.S. tariffs on foreign-made chips could help U.S. chip manufacturers by boosting demand for domestically made chips. Caulfield told an investor conference hosted by Morgan Stanley the $52.7 billion CHIPS and Science Act and an investment tax credit on chip-making …
GlobalFoundries chief says tariffs could benefit US chipmakers Read More »
(Reuters) -Alphabet’s Google met with President Donald Trump’s government last week and urged them to back away from a push to break up the search engine company, according to a person familiar with the matter. The U.S. Department of Justice is currently pursuing two anti-monopoly cases against Google – one over search and another over …
Alphabet’s Google urges US government to avoid breaking up firm, source says Read More »
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) -Mexico’s peso rose against the dollar in a volatile session on Tuesday, as traders priced the effect of newly imposed U.S. tariffs of 25% on imports from Mexico. The peso strengthened late in the session after U.S. Commerce Secretary Howard Lutnick told Fox Business that President …
(Reuters) – Liz Martin, chief operating officer of engineering at Goldman Sachs global banking and markets business, is set to leave the Wall Street giant after 25 years at the firm, according to an internal memo seen by Reuters on Tuesday. She joined the investment bank in 2000 as an analyst and became a managing …
Goldman Sachs’ Liz Martin to depart after 25 years at the firm Read More »
(Reuters) -Canada’s TD Bank set CEO Raymond Chun’s 2024 salary at C$11.4 million ($7.88 million) and cut U.S. retail banking head Leo Salom’s pay amid the lender’s anti-money laundering (AML) issues, regulatory filings on Tuesday showed. The bank, earlier this year, expedited Chun’s appointment as CEO by more than two months, while also reducing outgoing …
TD Bank sets new CEO’s pay at $7.9 million, cuts US chief’s salary Read More »
