New 25% Tariffs on EU Food Will Lead to Higher Prices, Cost American Jobs
2019-10-04 00:39:52 UTC
WASHINGTON (Reuters) - New 25% U.S. tariffs on Italian cheese, French wine, Scotch whisky, British biscuits, Spanish olives and thousands of other European food products will lead to higher prices ahead of the holiday season and cost American jobs, trade groups said on Thursday.
The U.S. Trade...
Weak US Economic Data Weighs on Global Market
2019-10-03 16:56:45 UTC
NEW YORK (Reuters) - Weaker-than-expected U.S. economic data weighed on global financial markets on Thursday, leaving world equity benchmarks bouncing in choppy trading and sending investors into safe-haven assets on expectations of further Federal Reserve interest rate cuts.
The drop in the c...
Recession Fears Escalate
2019-08-14 19:02:04 UTC
NEW YORK (Reuters) - Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
All three major U.S. indexes were sharply lower as short- and long-dated Treasury yields inverted for the firs...
Mexico to Provide 40,000 Jobs to Migrants
2019-06-28 18:19:59 UTC
MEXICO CITY (Reuters) - Mexico is finalizing a deal to provide 40,000 factory jobs to migrants in northern states, President Andres Manuel Lopez Obrador said Friday, addressing a key need for the thousands waiting in Mexico as their U.S. asylum cases are decided.
Speaking at his daily press co...
Euro Hits Three-Month High Against US Dollar
2019-06-24 04:00:44 UTC
TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve.
The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in ...
US Weekly Jobless Claims Rise; Imported Inflation Weak
2019-06-13 18:19:18 UTC
WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
Other data on Thursday showed import prices fell by the most in f...
US Economic Growth Continues to Slow
2019-06-07 16:37:19 UTC
NEW YORK (Reuters) - The U.S. economy is growing at a 1.4% annualized rate in the second quarter based on data that showed a weaker-than-forecast payrolls growth in May, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
This was a tad slower than the 1.5% pace estimated by ...
Asia Shares Hit 4-Month Low on Risk of Endless Trade War
2019-05-23 05:34:55 UTC
SYDNEY (Reuters) - Asian shares broke support and caved to a four-month low on Thursday, as concerns grew that the Sino-U.S. trade conflict was fast morphing into a prolonged technology cold war between the world’s two largest economies.
Late Wednesday, Reuters reported the U.S. administration...
Oil Prices Continue to Rise Amid OPEC-Led Supply Cuts
2019-04-02 21:38:57 UTC
NEW YORK (Reuters) - Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut.
Brent futures reached a session peak at $69.52 ...
Wall Street Bogged Down by Global Growth Worries
2019-03-27 17:53:13 UTC
(Reuters) - Fears of a global economic slowdown weighed on Wall Street’s main indexes on Wednesday, and along with a prolonged inversion in the U.S. yield curve kept investors at bay.
Apple Inc was a bright spot, rising 1.23 percent after three straight days of losses.
The benchmark 10-year...
UK can remain in EU single market until end of 2020
2018-10-25 19:02:53 UTC
BERLIN (Reuters) - The European Commission has offered to allow Britain to remain in the EU customs union and internal market beyond an agreed transitional arrangement until the end of December 2020, the Frankfurter Allgemeine Zeitung reported on Tuesday.
“In a goodwill gesture to Britain, the...
Brexit: The Irish border has become a sticking point
2018-10-15 16:25:14 UTC
LUXEMBOURG (AP) — Britain and the European were still both refusing to blink Monday over the question of the Irish border in Brexit talks — only two days ahead of a summit once seen as the moment when they would have to reach deal on Britain’s divorce from the bloc.
A flurry of diplomatic meet...
US Stock Markets In A Free Fall
2018-10-11 21:54:02 UTC
NEW YORK — The Dow Jones Industrial Average and the S&P 500 fell sharply again Thursday after both indexes on Wednesday logged their largest losses on a percentage basis since Feb. 8.
The S&P 500 has closed lower for five straight days. The Nasdaq declined on Thursday, a day after the tech-hea...
Wall Street faces worst day since February
2018-10-11 21:53:35 UTC
NEW YORK (Reuters) - Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3.0 percent, its biggest one-day fall since February.
Technology shares tumbled on fears of slowing demand, while bond yields ended lower after see...
UK Brexit-negotiator is struggling to make headway
2018-08-29 15:36:40 UTC
LONDON (Reuters) - Financial centers outside the European Union would be the benefactors if the European Union sought to punish the City of London as Britain leaves the bloc, Brexit minister Dominic Raab said on Wednesday.
Raab told a parliamentary committee he did not believe the EU would try...
Germany: When U.S. 'Crosses the Line' Europe Must Act
2018-08-22 19:01:39 UTC
BERLIN — In a long column on how Europe should respond to U.S. policy under President Donald Trump, German foreign minister, Heiko Maas, a member of Merkel’s junior Social Democrat coalition partners, called for the creation of a “balanced partnership” with the US in which the Europeans filled th...
China slaps additional tariffs of 25 percent on $16 billion US imports
2018-08-08 17:44:20 UTC
BEIJING/WASHINGTON (Reuters) - China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute.
The tariffs wi...
Apple became the first $1 trillion listed US company
2018-08-02 18:06:54 UTC
SAN FRANCISCO (Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
Plunge in Facebook shares rattled Amazon options market
2018-07-26 18:56:45 UTC
SAN FRANCISCO/NEW YORK (Reuters) - A plunge in Facebook Inc shares rattled the Amazon.com Inc options market on Thursday, with the social network’s fellow FAANG company due to report quarterly results later in the day.
Facebook on Wednesday warned about a margin hit as revenue growth slows and...
Hostile rhetoric between Trump and Tehran escalating
2018-07-23 16:27:09 UTC
Hostile rhetoric between Washington and Tehran escalated on Sunday after a tit-for-tat between Trump and his Iranian counterpart, Hassan Rouhani.
U.S. President Donald Trump told Iran it risked dire consequences “the like of which few throughout history have suffered before” if the Islamic ...
Germany and China standing together against US protectionism
2018-07-09 21:02:43 UTC
BERLIN (Reuters) - Germany and China signed a raft of commercial accords worth some 20 billion euros ($23.5 billion) on Monday, with their leaders reiterating commitments to a multilateral global trade order despite a looming trade war with the United States.
The deals, involving German indust...
Poll: 70 percent of Canadians boycott U.S. products
2018-06-16 07:43:47 UTC
OTTAWA (Reuters) - Seventy percent of Canadians say they will start looking for ways to avoid buying U.S.-made goods in a threat to ratchet up a trade dispute between Prime Minister Justin Trudeau and U.S. President Donald Trump, an Ipsos Poll showed on Friday.
The poll also found a majority o...
United States completely isolated itself at G7 meeting
2018-06-01 19:03:28 UTC
WASHINGTON/WHISTLER, British Columbia (Reuters) — U.S. isolated at G7 meeting as tariffs prompt retaliation.
At a meeting of the Group of Seven top world economic powers in Canada, France’s Finance Minister Bruno Le Maire castigated the United States for its tariffs, saying Washington was isol...
EU, Canada, Mexico announce retaliatory measures against US products
2018-06-01 00:35:36 UTC
WASHINGTON/PARIS (Reuters) - Canada and Mexico retaliated against the United State’s decision on Thursday to impose tariffs on steel and aluminum imports and the European Union had its own reprisals ready to go, reigniting investor fears of a global trade war.
The tariffs, announced by U.S. Co...
Wall Street stocks: Dow Jones falls nearly 400 points
2018-05-29 21:41:34 UTC
NEW YORK (Reuters) - A spiraling Italian political crisis provoked a global stock market sell-off on Tuesday, cut the euro to a 10-month low and spiked borrowing costs for the government in Rome.
Investors fear that repeat elections - which now seem likely in the euro zone’s third-largest econ...