The United States has held off on a threat to expand a 16-year old trade fight with the European Union over trade subsidies. US trade representative Robert Lighthizer confirmed the Trump administration would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods imposed last year, including Scotch Whisky, following a World […]
FRANKFURT/DUESSELDORF (Reuters) – Struggling conglomerate Thyssenkrupp (TKAG.DE) on Thursday said its steel unit would rack up 1 billion euros ($1.2 billion) in operating losses this year, raising pressure to fix or sell the division. The expected loss at Thyssenkrupp Steel Europe, the continent’s No.2 player after ArcelorMittal (MT.AS), comes as the sector suffers from cheap […]
FRANKFURT (Reuters) – Exchange operator Deutsche Boerse (DB1Gn.DE) will remove Wirecard (WDIG.DE), the payments company that folded after an accounting scandal, from the DAX index of Germany’s leading blue-chip stocks this month following an index rule change. The exchange operator on Wednesday said it had opted for new rules – which were proposed last month […]
JOHANNESBURG/MUMBAI – As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. \ Patel, who worked for a decade in India’s Surat where about 80% of the world’s diamonds are polished, joined the exodus of gem workers leaving […]
Ice cream maker Ben & Jerry’s has taken on Home Secretary Priti Patel over moves to stem the surge in migrant Channel crossings – and received a chilly response. The frosty exchange came after the company challenged the cabinet minister on Twitter and criticised the “lack of humanity” shown to those making the perilous journey. […]
(Reuters) – Futures tracking the S&P 500 index hit a record high on Tuesday as investors shrugged off simmering U.S.-China tensions to bet on a stimulus-led economic recovery from the COVID-19 pandemic. At the current levels, the benchmark index is set to open about 12 points below its Feb. 19 record peak of 3,393.52. A […]
LONDON (Reuters) – The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s huge jobs protection scheme still in place. Led by a record plunge in self-employed workers, there […]
SINGAPORE (Reuters) – Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen. Brent crude LCOc1 added 22 cents, or 0.5%, to $45.21 a barrel, as of 0441 GMT. West Texas Intermediate U.S. crude CLc1 rose 32 cents, or 0.8%, to […]
SINGAPORE (Reuters) – Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen. Brent crude LCOc1 added 7 cents, or 0.2%, to $45.06 a barrel, as of 0027 GMT. West Texas Intermediate U.S. crude CLc1 rose 14 cents, or 0.3%, to […]
BOSTON (Reuters) – Asian stocks were set for a cautious start on Tuesday, following a mixed Wall Street session and as investors eyed stalled U.S. stimulus efforts and worsening strains between Washington and Beijing over Hong Kong. Australian S&P/ASX 200 futures YAPcm1 fell 0.05% in early trading. Japan’s Nikkei 225 futures NKc1 slipped 0.04%. Tokyo […]