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Updated: 6 min 32 sec ago

Asian shares win reprieve as Trump seen delaying auto tariffs

Thu, 05/16/2019 - 02:09
Asian shares steadied on Thursday on news that U.S. President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak U.S. and Chinese economic data.
Categories: Financial Media

Trade group to hold meeting of airlines affected by Boeing's grounded 737 MAX

Thu, 05/16/2019 - 01:37
A trade group is inviting airlines that use Boeing Co 737 MAX jets to meet next week to discuss challenges they face as a result of the grounding of the airline model involved in two fatal crashes, as they prepare to reintroduce the planes into operation.
Categories: Financial Media

Mexico says it is close to U.S. metals tariff deal, waiting for Canada

Thu, 05/16/2019 - 01:08
Mexico is close to resolving its dispute with the United States over steel and aluminum tariffs without quotas but hopes Canada can reach a similar agreement before completing it, a senior Mexican official said on Wednesday.
Categories: Financial Media

U.S. blacklists China's Huawei as trade dispute clouds global outlook

Thu, 05/16/2019 - 00:26
The Trump administration hit Chinese telecoms giant Huawei with severe sanctions on Wednesday, adding a new incendiary element to the U.S.-China trade dispute just as Treasury Secretary Steven Mnuchin said he would visit China soon for more talks.
Categories: Financial Media

Cisco beats earnings target, says has cushioned supply chain from tariffs

Thu, 05/16/2019 - 00:17
Cisco Systems Inc reported better-than-expected quarterly earnings on Wednesday and gave an upbeat sales forecast for the current period, saying that minimal sales exposure to China and changes to its supply chains have helped cushion the blow of U.S.-China trade dispute.
Categories: Financial Media

Mexico says close to U.S. metals tariff deal, waiting for Canada

Thu, 05/16/2019 - 00:13
Mexico is close to resolving its dispute with the United States over steel and aluminum tariffs without quotas but is waiting for Canada to reach a similar agreement before completing it, Mexico's top trade official said on Wednesday.
Categories: Financial Media

Not right time for Mexico to target new U.S. products in steel dispute: official

Thu, 05/16/2019 - 00:12
Progress being made between Washington and Mexico City toward repealing U.S. tariffs on steel means it is not the right time for Mexico to target new U.S. products in retaliation for the duties, a senior Mexican official said on Wednesday.
Categories: Financial Media

Trump order clears way for barring Huawei from U.S. telecommunications networks

Wed, 05/15/2019 - 23:41
President Donald Trump on Wednesday signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China's Huawei Technologies Co.
Categories: Financial Media

China's Huawei, 70 affiliates placed on U.S. trade blacklist

Wed, 05/15/2019 - 23:41
The U.S. Commerce Department said on Wednesday it is adding Huawei Technologies Co Ltd and 70 affiliates to its so-called “Entity List” - a move that bans the telecom giant from buying parts and components from U.S. companies without U.S. government approval.
Categories: Financial Media

Big U.S. hedge funds regain ardor for FAANGs in first quarter: filings

Wed, 05/15/2019 - 23:32
Some of the biggest, highest-profile U.S. hedge fund investors and money managers fell back in love with FAANGs in the first quarter, according to regulatory filings released on Wednesday.
Categories: Financial Media

Harvey Weinstein's former film studio plans to liquidate in bankruptcy

Wed, 05/15/2019 - 23:26
The film studio once run by Harvey Weinstein said it plans to liquidate in bankruptcy, as it tries to resolve civil lawsuits against former directors and officers arising from sexual misconduct claims against the onetime Hollywood mogul.
Categories: Financial Media

Advisory firms say AIG shareholders should vote 'no' on executive pay

Wed, 05/15/2019 - 22:25
American International Group Inc shareholders should vote against compensation packages for top executives at the insurer's annual meeting next week, according to two advisory firms that hold sway over investor votes.
Categories: Financial Media

Buffett's Berkshire unveils $861 million Amazon stake

Wed, 05/15/2019 - 22:22
Warren Buffett's Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.
Categories: Financial Media

MBDA boss faces battle of wits as Airbus strategy chief

Wed, 05/15/2019 - 21:37
The chief executive of European missile maker MBDA is returning to Airbus as head of strategy as the planemaker seeks to modernize its factories and explore future options in defense.
Categories: Financial Media

U.S. Treasury secretary plans China visit as trade war clouds world economy

Wed, 05/15/2019 - 21:37
U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to China soon to continue talks as Washington and Beijing seek to resolve a trade war that has cast a pall over the global economy and financial markets.
Categories: Financial Media

Trade war hurting the U.S. ethanol industry 'badly': U.S. Grains Council

Wed, 05/15/2019 - 21:37
The U.S.-China trade war is hurting the U.S. ethanol industry "badly," Mike Dwyer, chief economist of the U.S. Grains Council, said on Wednesday at an event at New York Sugar week:
Categories: Financial Media

Cisco quarterly earnings beat estimates; shares rise

Wed, 05/15/2019 - 21:31
Cisco Systems Inc reported quarterly earnings above analysts' estimates on Wednesday, boosted by growth in its traditional business of selling switches and routers, as well as strength in its focus areas such as cyber security.
Categories: Financial Media

U.S. judge dumps 'Pooey Puitton' lawsuit against Louis Vuitton

Wed, 05/15/2019 - 21:24
Louis Vuitton has won the dismissal of a lawsuit by a California toy company that accused the French luxury goods maker of trying to interfere with its sales of a poop-shaped toy purse for children, Pooey Puitton.
Categories: Financial Media

Global stocks gain after Trump auto-tariff delay, weak data pressures yields

Wed, 05/15/2019 - 21:20
U.S. and European stock indexes gained on Wednesday after news that U.S. President Donald Trump planned to delay tariffs on auto imports, offsetting earlier pressure on equities from weak U.S. and Chinese economic data that helped depress bond yields.
Categories: Financial Media

Weak U.S. retail sales, industrial output highlight slowing economy

Wed, 05/15/2019 - 21:18
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
Categories: Financial Media

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