Steady and strong: German economy picking up more steam
2018-08-14 07:07:13 UTC
BERLIN (Reuters) - The German economy picked up more steam than expected in the second quarter, driven by higher household and state spending, preliminary data showed on Tuesday.
Gross domestic product in Europe’s biggest economy expanded by 0.5 percent quarter-on-quarter, the Federal Statisti...
China takes over project in world’s biggest natural gas reserves in Iran
2018-08-11 18:21:26 UTC
Reuters - China’s state-owned energy major CNPC has taken over the share in Iran’s multi-billion dollar South Pars gas project held by France’s Total, the Iranian state news agency IRNA reported on Saturday.
Total signed a contract in 2017 to develop Phase II of South Pars field with an initia...
Impact of escalating trade tensions between US and China
2018-08-08 18:14:42 UTC
(Reuters) - U.S. companies are putting in place measures to cushion the impact of escalating trade tensions between the United States and China.
The world’s two largest economies have already imposed tariffs on $34 billion worth of each other’s imports.
In the latest development, Washington...
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...
Trump’s ‘unmitigated crap’ on California wildfires
2018-08-07 21:23:33 UTC
U.S. President Donald Trump has weighed in on the California wildfires. But it wasn’t to express condolences for the victims or to praise the incredible bravery of firefighters — it was to try to score political points.
And he did so by badly twisting the science of how wildfires work. In a no...
EU raises concerns over new US move on Iran
2018-08-06 17:59:19 UTC
WASHINGTON (Reuters) - The Trump administration expects economic sanctions that it is re-imposing on Iran this week to further cripple the Iranian economy and will aggressively enforce the measures, senior U.S. administration officials said on Monday.
But the U.S. sanctions strategy has severa...
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.
British car makers and consumers would suffer from "No-Deal" Brexit
2018-07-31 02:14:06 UTC
LONDON (Reuters) - A no-deal Brexit is not an option for Britain’s car industry, given the costs and disruption that carmakers and consumers would suffer, the head of the country’s automobile industry group said on Tuesday.
Mike Hawes, chief executive of the Society of Motor Manufacturers and ...
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 ...
EU to protect oil exports & firms from US sanctions on Iran
2018-07-17 21:13:17 UTC
The Iran nuclear agreement marked its third anniversary in a gloomy state. Despite repeated attempts to keep him on board, US President Donald Trump withdrew the United States from the deal – signed on July 14, 2015 under the formal title the Joint Comprehensive Plan of Action (JCPOA) – and there...
Trade war: China accuses US of “opening fire”
2018-07-05 16:53:07 UTC
BEIJING/WASHINGTON (Reuters) - China accused the United States on Thursday of “opening fire” on the world with tariffs set to take effect on Friday, warning that it will respond the moment that duties on $34 billion in Chinese goods kick in.
U.S. President Donald Trump has threatened to furthe...
World Trade Organization rules in favor of Canada against US
2018-07-05 16:28:20 UTC
GENEVA (Reuters) - Canada won the bulk of a ruling at the World Trade Organization on Thursday in a dispute over U.S. duties on Canadian exports of supercalendered paper, which is used in glossy magazines and catalogues.
Canada filed the complaint in 2016, saying Washington was wrong to penali...
Volkswagen offers carsharing service with electric vehicles
2018-07-04 19:11:31 UTC
FRANKFURT (Reuters) - Volkswagen plans to start offering car sharing services using fully electric vehicles in German cities next year as part of efforts to serve consumers who don’t want to buy their own vehicles.
Its offering will compete in its home market with DriveNow and Car2Go, the soo...
Harley-Davidson move shows consequences of Trump's trade war
2018-06-27 00:38:30 UTC
WASHINGTON/CHICAGO (Reuters) - U.S. President Donald Trump threatened Harley-Davidson Inc with higher taxes on Tuesday and said the motorcycle maker, which he previously hailed as a model of American manufacturing, would suffer from a public backlash if it went ahead with a plan to move productio...
Brexit: Pro European Union Protesters March in London
2018-06-23 22:01:31 UTC
LONDON (Reuters) - Around 100,000 supporters of the European Union marched through central London on Saturday to demand that the British government hold a final public vote on the terms of Brexit, organizers said.
Protesters packed the main arteries of the capital, waving British, Irish and Eu...
Tesla to close 14 solar facilities, cut jobs
2018-06-22 04:44:58 UTC
SAN FRANCISCO (Reuters) - Electric car maker Tesla Inc’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former T...
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...
Iran to Kim: Don't trust Trump, he quits deals within hours
2018-06-12 23:46:34 UTC
LONDON (Reuters) - Iran warned North Korean leader Kim Jong Un on Tuesday against trusting U.S. President Donald Trump, saying he could cancel their denuclearization agreement within hours.
Tehran cited its own experience in offering the advice to Kim a month after Washington withdrew from a s...
Trump's massive tax cuts drive up U.S. deficits: Just in May alone, $147 billion
2018-06-12 23:06:23 UTC
WASHINGTON (Reuters) - The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday.
Treasury reported a budge...
Canadian province of Quebec offers C$100 million in loans to companies hit by U.S. tariffs
2018-06-11 22:15:23 UTC
MONTREAL (Reuters) - The Canadian province of Quebec will offer C$100 million ($77.1 million) in loans and guarantees on loans to steel and aluminum companies hit by recent U.S. tariffs, the province’s economy minister said on Monday.
Companies that transform the metals will benefit from the p...
Mexico puts tariffs on products from key Republican congressional districts
2018-06-07 02:50:01 UTC
WASHINGTON/MEXICO CITY (Reuters) - Mexican tariffs are roiling U.S. congressional campaigns in states where U.S. exporters could take a hit and President Donald Trump’s Republicans face tough races in November congressional elections.
Mexico announced the levies this week in retaliation to Tru...
Renowned Economist: No one express “a single word of respect for Trump”
2018-06-02 15:51:31 UTC
American economist Jeffrey Sachs has written a scathing takedown of President Donald Trump, calling him a delusional, psychopathic “threat to the nation and the world.”
He might be a “Manchurian Candidate” who is working as a “stooge” for some foreign power to destroy the U.S., Sachs wrote on ...
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...
France: The American consumer will pay for Trump's tariffs bill
2018-06-01 05:26:35 UTC
PARIS (Reuters) - U.S. trade tariffs on European metals exports are unjustified and will be met with a proportionate and calibrated EU response, the French government said on Thursday.
“Today, France and the EU disapprove, of course, these measures. We are getting ready to put in place safegua...