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by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — The US central bank sent a strong signal on Friday that it would be willing to reconsider expected interest rate hikes amid new data showing President Donald Trump’s multi-front trade wars are dragging on the economy and shaking up investors. The message, from the senior Federal Reserve official with the closest links to US financial markets, sent the Dow Jones Industrial Average surging 300 […]
NEW YORK, United States (AFP) — Wall Street stocks finished higher on Wednesday due to improved hopes for the US-China trade talks. The Dow Jones Industrial Average added 0.6 percent at 24,527.27. The broad-based S&P 500 advanced 0.5 percent to 2,651.07, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 7,098.31. Wall Street stocks have been volatile in recent weeks in part due to unpredictable and ambiguous events connected to the Beijing-Washington trade negotiations. […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — American farmers have been forced to warehouse a bumper crop of soybeans, or sell at a loss, while a Midwest medical supply company is considering shipping production overseas amid growing uncertainty. Surveys of US business and consumer sentiment continued to show economic optimism going into next year but cracks are beginning to form — in the United States and around the world — with […]
CAIRO, Egypt (AFP) — Egypt has warned it will take legal action against Apple if the US tech giant fails to remove alleged “restrictions” on local distributors within 60 days. A decree threatening action was published in the official gazette on Monday after accusations from Egypt’s Competition Authority that Apple had violated the country’s competition law. It said the company had “isolated the Egyptian market geographically” by restricting sales to distributors in the country from […]
(AFP) — A Chinese court ordered a ban in the country on iPhone sales in a patent dispute between US chipmaker Qualcomm and Apple, according to a Qualcomm statement Monday. The statement said the Fuzhou Intermediate People’s Court had granted Qualcomm’s request for two preliminary injunctions against four subsidiaries of Apple, ordering them to immediately to stop selling the iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone […]
OPEN FOR BUSINESS exclusive interview with Deputy director for Research of the Hong Kong Trade Development Council, Mr. Billy Wong, in Hong Kong (Eagle News) – Hong Kong’s traders are “increasingly worried” about the ongoing trade war between the United States and China, and are now looking for new markets for their goods. Deputy director for Research of the Hong Kong Trade Development Council, Mr. Billy Wong, told Eagle News Service’s Online program, “Open for Business” […]
by Thomas CABRAL Agence France-Presse LIBOS, Portugal (AFP) — Chinese President Xi Jinping arrived in Portugal on Tuesday for a two-day visit to boost economic ties, despite concern in some EU capitals over China’s growing influence across the continent. “Relations between China and Portugal are entering their best period… We must develop existing projects and step up our commercial exchanges,” Xi said at a meeting with counterpart Marcelo Rebelo de Sousa. His two-day stay will […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — The United States said Monday it will need to see “something concrete” from China in the next 90 days to build a real agreement on trade, two days after Donald Trump and Xi Jinping called a truce in the escalating confrontation between the two economic powerhouses. Treasury Secretary Steven Mnuchin said on CNBC the US and China had held “very specific discussions” in Buenos […]
BUENOS AIRES, Argentina (AFP) — China and Argentina signed a $9 billion currency swap deal to boost the crisis-stricken South American country’s foreign currency reserves, its central bank announced Sunday. Struggling to recover after a currency crisis earlier this year, Latin America’s third largest economy sought the help of the International Monetary Fund — which approved a $56 billion loan package. Now, this latest agreement will “contribute to greater financial stability and also facilitate trade” […]
BUENOS AIRES, Argentina (AFP) — US President Donald Trump and his Chinese counterpart Xi Jinping on Saturday struck a deal at working dinner on the sidelines of the G20 summit to effectively stall their trade war. Trump hailed what he described as “an amazing and productive meeting with unlimited possibilities” for both countries, and said it was a “great honor” to work with Xi. Here are the main points of the deal: – Tariffs – […]
BUENOS AIRES, Argentina (AFP) — The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days. “If […]
HONG KONG, China (AFP) — Asian markets were mixed Tuesday as dealers focused on crunch G20 talks between Donald Trump and Xi Jinping, with the US president warning he will ramp up his trade war with China if the two do not reach a deal. With the economic superpowers in the middle of an increasingly bitter standoff, there are hopes the two leaders will be able to work out an agreement that brings them back […]
