Friday, 5 Jun 2020

New York City to move iconic Wall Street Bull statue

London wakes up to winter wonderland

London woke up to a winter wonderland on Friday.

The city was treated to overnight snow squalls, with more than 10 centimetres accumulating by the morning, and forecasters say more is on the way.

Global News Radio 980 CFPL weather specialist John Wilson said the total snowfall amount varied, with cities such as Strathroy and Woodstock receiving much less of the white stuff.

“The wind’s set up just right from the north-northwest coming across a large fetch of Lake Huron right at London,” Wilson explained.

Russia says Iran's enrichment move does not threaten non-proliferation: Ifax

MOSCOW (Reuters) – Russia’s Foreign Ministry said on Friday that Iran’s latest move to scale back its commitments under the 2015 nuclear deal did not pose a threat to the non-proliferation regime, Interfax news agency reported.

Iran said on Thursday it had resumed uranium enrichment at its underground Fordow nuclear plant, stepping further away from its deal with world powers after the United States pulled out of it.

Saudi mall operator Arabian Centres hires banks for debut dollar bonds

DUBAI, Nov 8 (Reuters) – Saudi Arabian mall operator Arabian Centres Company has hired banks to arrange a debut issuance of a dollar sukuk, or Islamic bonds, a document showed on Friday.

The company has hired Goldman Sachs and HSBC to coordinate the deal. Credit Suisse, Emirates NBD Capital, Mashreqbank, Samba Capital and Warba Bank are also involved. It will start meeting investors in a global roadshow starting on Nov. 12.

U.S. consumer sentiment improves a bit in November

The numbers: The U.S. consumer sentiment survey rose slightly to 95.7 this month from 95.5 in October, the University of Michigan said Friday in a preliminary estimate.

Economists surveyed by MarketWatch had forecast a reading of 95.

What happened: According to the University of Michigan, a gauge of consumers’ views on current conditions declined to 110.9 in November from 113.2 in October, while a barometer of their expectations rose to 85.9 from 84.2.

Big picture: Economists follow readings on confidence to look for clues about consumer spending, the backbone of the economy. Consumer spending is even more important now that business investment has slumped. Sentiment has moved higher after a sharp drop in August. Economists say low interest rates have bolstered the outlook for households.

What the UMich researchers said: “Although consumers have become somewhat more cautious spenders, they see no reason to engage in the type of retrenchment that causes recessions,” said Richard Curtin, the surveys of consumers chief economist.

Market reaction: Stocks opened lower on fresh uncertainty about progress on a trade deal with China. The Dow Jones Industrial DJIA, -0.23% as down 66 points in early trading after President Trump said he has not yet agreed to roll back tariffs on China.

Trump says he hasn’t yet agreed to remove China tariffs

President Donald Trump said Friday he hasn’t yet agreed to remove tariffs on Chinese goods, though Beijing would like him to. He said in further comments to reporters upon leaving the White House for a trip to Georgia that he plans to sign any trade deal with China in the U.S. His comments on tariffs sent U.S. stocks DJIA, -0.22% modestly lower.

Trump Says U.S. Hasn’t Agreed to Full Tariff Rollback With China

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President Donald Trump told reporters Friday that the U.S. hasn’t agreed to a rollback of all tariffs on China as negotiations between the world’s two biggest economies drag on.

Trump said while China wants a partial reversal of tariffs imposed in the trade war, he won’t fully eliminate them.

U.S. bonds rallied and stocks slipped after the president’s remarks diluted some of the optimism that had been increasing around the prospects for a truce.

On Thursday, signs were pointing toward a first-phase deal that would include a tariff rollback. China’s Ministry of Commerce spokesman Gao Feng said negotiators had discussions and “agreed to remove the additional tariffs in phases as progress is made on the agreement.”

White House economic adviser Larry Kudlow also confirmed Thursday the advance in talks. “If there’s a phase one trade deal, there are going to be tariff agreements and concessions,” he told Bloomberg.

Trump made clear Friday that the U.S. hasn’t yet reached an agreement and emphasized that he wouldn’t eliminate all tariffs.

Top U.N. court will hear Ukraine vs Russia case

THE HAGUE (Reuters) – The United Nations’ top court for disputes between states on Friday said it has jurisdiction to hear a case filed by Ukraine against Russia over Moscow’s alleged support of pro-Russian separatists in the Crimea and eastern Ukraine.

In reading a summary of the ruling, Presiding Judge Abdulqawi Yusuf said conditions had been met for the case to be heard in full and rejected Russian objections to the court’s jurisdiction.

New York City to move iconic Wall Street Bull statue

NEW YORK (AP) — New York City says it’s finalizing plans to relocate Wall Street’s famous “Charging Bull” statue.

A spokeswoman for Democratic Mayor Bill de Blasio tells The Wall Street Journal that the bull will be placed in a new location somewhere near the New York Stock Exchange.

Jane Meyer says the move is being made “to protect the safety of New Yorkers.”

Last month, climate protesters doused the bull with fake blood. In September, a man bashed it with a toy metal banjo.

The sculptor, Arturo Di Modica, opposes moving the bull from its home on a traffic island.

In 2017, State Street Global Advisors commissioned another bronze sculpture, “Fearless Girl,” to face the bull. It was relocated last December to a spot outside the stock exchange after officials cited traffic hazards.

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