Reuters US Business

By Bo Erickson and Ann Saphir WASHINGTON (Reuters) -A new task force in the Republican-controlled U.S. House of Representatives on Tuesday began an examination of the Federal Reserve’s role and goals, with Republicans raising questions about its track record on controlling inflation, and Democrats on watch for the impact of President Donald Trump’s freshly imposed …

Fed’s tools, goals under the microscope as US House task force gets underway Read More »

By Medha Singh and Kanchana Chakravarty (Reuters) -Shares of U.S. companies were under pressure after the latest escalation in Washington’s trade war, with new tariffs on Canada and Mexico expected to hit earnings in several sectors, including automobiles, aerospace, retail and housing. Economically sensitive stocks such as airlines and banks led declines on Wall Street’s …

Tariff-exposed stocks feel the squeeze as trade war heats up Read More »

By Amanda Stephenson CALGARY (Reuters) -Tariffs on Canadian oil would need to be in place for years before significantly altering the amount of crude the U.S. imports from its northern neighbour, the CEO of Canadian pipeline company Enbridge Inc. said on Tuesday. CEO Greg Ebel told reporters the energy systems of the two countries are …

Tariffs would need to be in place for years to alter US-Canada crude flows, Enbridge says Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Elliott Investment Management nominated seven directors to Phillips 66’s board, laying the groundwork to push for changes that include spinning off or selling its midstream business, two people familiar with the matter said. The activist investment firm last month disclosed a $2.5 billion stake in the oil refiner, …

Exclusive-Elliott nominates 7 directors at Phillips 66, ratchets up pressure Read More »

By Karl Plume CHICAGO (Reuters) – U.S. President Donald Trump slapped 25% tariffs on imports from Mexico and Canada on Tuesday and doubled duties on Chinese goods to 20%, triggering retaliation and threats of further countermeasures by the top importers of U.S. farm products. Ottawa responded with 25% tariffs on more than $20 billion in …

Factbox-US agricultural exports/imports threatened by Trump trade actions Read More »

By Yousef Saba DUBAI (Reuters) -Saudi oil giant Aramco signalled on Tuesday it will slash its dividend payouts by nearly a third this year, meaning fewer funds for the kingdom as it races to complete several mammoth projects and possibly faces a wider budget deficit. Aramco said it expected to declare total dividends of $85.4 …

Aramco signals sharply lower dividends as special payout shrinks Read More »

By David Gaffen (Reuters) -Business executives have been in a state of limbo over Donald Trump’s fluctuating plans to impose major tariffs since he took office in January. Tuesday’s announcement does not end that uncertainty. U.S. President Trump imposed 25% tariffs on the nation’s two largest trade partners, Canada and Mexico, a move that economists …

As Trump tariffs arrive, companies brace for more uncertainty Read More »

By Divya Rajagopal TORONTO (Reuters) – Canadian miner Teck has been developing plans to sell zinc to Asia instead of the U.S. to circumvent tariffs from President Donald Trump’s administration on Canadian imports, CEO Jonathan Price on Tuesday. Teck, which sells most of its refined zinc to the U.S., has been working on a contingency …

Miner Teck plans to sell to Asia to avoid US tariffs Read More »