'You prepare for war': how one U.S. firm tried escaping Trump's China tariffs
Today, 00:06
By Anne Marie Roantree HONG KONG (Reuters) - When Larry Sloven heard last year that U.S. tariffs threatened his China electronics business, he knew that setting up shop elsewhere would be a slog rather than an adventure. The 70-year-old had spent half his life building supply chains in southern China to produce goods for big-box U.S. retailers. But he had never reshuffled one on short notice, with tariffs hanging over his head. "It is the ..
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U.S.-China trade war 'very worrying': Australia central bank chief
Today, 00:03
SYDNEY (Reuters) - Heightened tensions between the United States and China represent the biggest risk to global economic stability, Reserve Bank of Australia (RBA) Governor Philip Lowe said in a private meeting late on Tuesday. Lowe said the U.S.-China trade war was hurting global investment, wages and economic growth, the Sydney Morning Herald (SMH) reported, citing sources who attended the business event. "I do not have a clear idea of what ..
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Italy president begins talks to seek way out of government crisis
Yesterday, 23:12
By Angelo Amante and Gavin Jones ROME (Reuters) - Italian President Sergio Mattarella begins two days of talks with parties on Wednesday to seek a way out of a political crisis that will lead to formation of the country's 67th government since World War Two or early elections. Prime Minister Giuseppe Conte resigned on Tuesday after launching a blistering attack on his own interior minister, Matteo Salvini, accusing him of sinking the ..
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PES layoffs accelerate as Philadelphia refinery closes
Yesterday, 23:09
By Laila Kearney (Reuters) - Refiner Philadelphia Energy Solutions is laying off the majority of its unionized workforce on Tuesday and Wednesday, the union's president said, ahead of an initial layoff deadline. PES began dismissing a small number of union workers last Thursday, before an earlier-stated Aug. 25 termination date, as the company idles its fire-damaged refinery after filing for bankruptcy. Union employees are expected to be ..
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China Is Cracking Down on Inflated Bond Trading Numbers
Yesterday, 23:06
(Bloomberg) -- China is cracking down on banks and brokers that it suspects of inflating bond trading volumes in an effort to win more business, according to traders familiar with the matter. A subsidiary of the central bank is monitoring large transactions on the X-Bond system for signs of abnormal trading, the two traders said, asking not to be named as they’re not authorized to speak to media. The checks started after turnover on a China ..
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Oil Rises to One-Week High as Traders Brace for Storage Drawdown
Yesterday, 23:03
(Bloomberg) -- Oil rebounded to close above $56 a barrel after a volatile session as traders look ahead to a key government tally of stockpiles in the world’s biggest economy. Futures fell as much as 1.7% earlier Tuesday after U.S. Secretary of State Mike Pompeo told CNBC that Huawei Technologies Co. and other Chinese companies pose national security threats to the U.S. They gained before the close amid analyst forecasts that U.S. crude ..
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American Airlines to pay $22.1 million U.S. fine over mail delivery times: Justice Department
Yesterday, 22:39
By David Shepardson WASHINGTON (Reuters) - American Airlines Group Inc (O:AAL), the largest U.S. airline, will pay $22.1 million to settle claims it falsely reported the times it transferred possession of U.S. mail to foreign postal administrations or other intended recipients, the U.S. Justice Department said on Tuesday. The United States Postal Service contracted with American to take possession of receptacles of U.S. mail at six locations and ..
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Day Ahead: Top 3 Things to Watch
Yesterday, 22:36
Investing.com - Here's a preview of the top 3 things that could rock markets tomorrow. 1. Fed Minutes, Housing Activity in Focus Monetary policy comes into focus tomorrow as the Federal Reserve releases the minutes of its July meeting at 2 PM ET (18:00 GMT). With expectations running high that the U.S. central bank is likely to cut rates at its meeting next month, the minutes will likely be parsed for further insight into policymakers’ ..
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Imports of Chinese steel racks injure U.S. industry: U.S. ITC
Yesterday, 22:33
WASHINGTON (Reuters) - Subsidized steel rack imports from China have materially harmed U.S. industry, the U.S. International Trade Commission found on Tuesday, locking in the Trump administration's duties on such products in the worsening U.S.-China trade war. The ITC said it would release a full report on the issue by Sept. 27. The commission published no details on the value of U.S. producers' shipments of steel racks, saying that ..
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Best Budget Fix for Israel's Finance Minister? Invest, Don't Tax
Yesterday, 22:30
(Bloomberg) -- Spending to grow its economy may be Israel’s solution to budgetary woes, according to Finance Minister Moshe Kahlon. Speaking in an interview, Kahlon outlined measures to counter a widening deficit that could include privatization of major Israeli companies, building roads, and job training for Arabs and religious Jews who have traditionally had less of a role in the workforce. As the fallout of trade disputes spreads, stimulus is ..
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Latest News

Trump says administration talking to Democrats about meaningful gun legislation
Yesterday, 20:24
WASHINGTON (Reuters) - President Donald Trump said on Tuesday that his administration was in discussions with Democrats to produce some sort of meaningful gun legislation following mass shootings in the United States in recent weeks. Trump, speaking to reporters at the start of a meeting with the Romanian president, declined to say whether he supported any of the gun legislation backed by Democrats in the U.S. House of Representatives. "We ..
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Trump says he will decide on foreign aid spending cuts within week
Yesterday, 20:21
WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that he was looking at various options for a budget package that could cut billions of dollars in foreign aid and that he would decide on the issue "sooner than a week." Defying Congress, Trump administration officials have said they are reviewing State Department and U.S. Agency for International Development spending with an eye to using a budget process known as "rescission" to ..
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Trump looking at possible U.S. payroll, capital gains tax cuts
Yesterday, 20:18
WASHINGTON (Reuters) - President Donald Trump on Tuesday said his administration was looking to cut U.S. taxes on wages and on profits from selling assets such as stocks, but that he was not talking about doing anything imminently. Speaking to reporters during a White House visit by Romanian President Klaus Iohannis, Trump said "I've been thinking about payroll taxes for a long time." The Washington Post has reported the ..
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House panel says 'time is of the essence' in Trump tax return fight
Yesterday, 20:15
By Jan Wolfe (Reuters) - A U.S. House of Representatives committee on Tuesday urged a federal judge to quickly resolve its bid to obtain President Donald Trump's tax returns, which the Trump administration has refused to turn over. In a filing in the U.S. District Court for the District of Columbia, the House Ways and Means Committee said "time is of the essence" in resolving the case it brought last month seeking to compel the ..
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Boeing hiring as it targets 737 MAX fights resuming 'early fourth quarter'
Yesterday, 20:12
By Eric M. Johnson SEATTLE (Reuters) - Boeing (NYSE:BA) Co said on Tuesday it plans to add extra staff and hire "a few hundred" temporary employees at an airport in Washington state where it is storing many grounded 737 MAX jetliners, a key step in its best-case plan for resuming deliveries to airline customers in October. The world's largest planemaker, burning cash as one of the worst crises in its history stretches into a sixth ..
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Spot Gold Recaptures $1,500 After 2-Day Lag as Longs Bet Again on Dovish Fed
Yesterday, 20:09
By Barani Krishnan Investing.com - Gold bullion reclaimed its stake in $1,500 territory on Tuesday after a two-day abeyance from that level as gold longs bet again on the yellow metal’s fortunes ahead of the Federal Reserve meeting next month. Spot gold, reflective of trades in bullion, was up $10.37, or 0.7%, at $1,506.34 per ounce by 3:00 PM ET (19:00 GMT). Bullion had fallen beneath $1,500 over the past two sessions as some investors ..
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Trump says Deputy Secretary of State Sullivan could be next envoy to Moscow
Yesterday, 20:06
WASHINGTON (Reuters) - U.S. Deputy Secretary of State John Sullivan "could very well be" the next U.S. ambassador to Russia, President Donald Trump said on Tuesday. If nominated, Sullivan would succeed Jon Huntsman who resigned earlier this month as Washington's envoy to Moscow amid speculation he plans to run for Utah governor. ..
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Trump says had to 'take China on,' regardless of short-term impact on U.S.
Yesterday, 20:03
WASHINGTON (Reuters) - President Donald Trump on Tuesday said the current U.S. standoff with China over trade was necessary, adding that China still wants to make a deal. "Somebody had to take China on,” he said to reporters during a White House visit by Romanian President Klaus Iohannis. "Whether it's good or bad short-term is irrelevant.” ..
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Bitcoin Flat After Failing to Break $11,000
Yesterday, 19:12
Investing.com -- Bitcoin struggled for direction on Tuesday, swinging between gains and losses after the popular crypto’s test of $11,000 was met with resistance. Bitcoin rose 0.33% to $10,754.20, not far from a session high of $10,993. Traders are anxiously waiting for the popular cryptocurrency to break decisively above $11,000, which they believe could be a catalyst for a prolonged move higher. Bitcoin and the broader crypto market are ..
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Latin America lacks ammunition to fight global economic slowdown
Yesterday, 19:09
By Jamie McGeever BRASILIA (Reuters) - As policymakers around the world scramble to prevent an economic slowdown from morphing into a global recession, Latin America's largest countries may find the growth-boosting arsenal at their disposal is worryingly scarce. In Brazil and Mexico, the region's biggest economies, weak budgetary positions are a fiscal straightjacket for governments. Meanwhile, central banks are wary of cutting ..
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