US Business

Israel starts exporting natural gas to Egypt under landmark deal

16/01 Israel began exporting natural gas to Egypt on Wednesday under one of the most important deals to have been signed by the neighbors since they made peace four decades ago.  Full story

Trump, EU chief to meet in Davos as U.S tariffs loom over digital tax -sources

03h39 Donald Trump is expected to meet with EU leader Ursula von der Leyen in Davos, Switzerland, next week, three sources said on Friday, as tensions mount between the allies over tariff threats and the. . .  Full story

Best Buy starts investigation into CEO's personal conduct

01h09 U.S. consumer electronics retailer Best Buy Co said on Friday that its board was conducting an independent review on allegations of misconduct against Chief Executive Officer Corie Barry after receiving an anonymous letter.. . .  Full story

CME hog and cattle futures end firm on winter weather woes

00h54 Front-month lean hog futures on the Chicago Mercantile Exchange (CME) settled about 1% higher on Friday, supported by fears that a weekend winter storm in the Plains and Midwest would slow the transport of. . .  Full story

IMF chief says interactions with Argentina 'very constructive' so far

00h13 International Monetary Fund Managing Director Kristalina Georgieva said on Friday the lender has had "very constructive" exchanges with Argentina's new Peronist government and would do whatever possible to assist the indebted country.. . .  Full story

Lawyers for Huawei CFO call Canada prosecutor's arguments 'circular'

17/01 Extraditing Huawei Chief Financial Officer Meng Wanzhou to the United States based on American sanctions against Iran would set a dangerous precedent and could even undermine Canada's policy towards Iran, Meng's lawyers argued in court. . .  Full story

Wall St Week Ahead-With market at record highs, eyes on reports from chipmakers

17/01 Reports from Netflix, Intel and Texas Instruments next week may hint at what is to come in the December quarterly earnings season, with some investors wary of possible danger signs that could knock Wall. . .  Full story

S&P, Fitch lower outlook on Bombardier to negative from stable

17/01 S&P Global Ratings and Fitch Ratings on Friday joined fellow credit rating agency Moody's Investors Service to cut their outlook for Bombardier Inc to negative from stable, a day after the company lowered its. . .  Full story

Wall Street hits new highs in strongest week since August

17/01 Wall Street climbed to record highs on Friday, with major indexes turning in their strongest weekly gains since August, after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes. . .  Full story

Corn soars 3.7% on bargain buying; wheat, soybeans follow

17/01 U.S. corn futures jumped 3.7% on Friday, more than recovering from the prior day's 3.1% drop, buoyed by a mix of short-covering and expectations of increased export demand for U.S. supplies, traders and analysts. . .  Full story

Financial sector should focus on reducing inequality, IMF says, citing risks to world economy

17/01 The world's financial sector should take rapid steps to address record or near-record inequality levels within countries that new research shows could be a harbinger of a new financial crisis, the head of the International. . .  Full story

Global distillate refining margins plummet on weak demand

17/01 Margins to refine crude into distillates like heating oil and diesel have slumped around the globe due to disappointing demand, prompting speculation that some refiners could start to reduce processing rates.. . .  Full story

U.S. yields rise on economic data, but still rangebound

17/01 U.S. Treasury yields rose on Friday after strong homebuilding and manufacturing reports and upbeat corporate earnings, while traders eyed the potential impact of a new government bond coming by summer. The. . .  Full story

Rhode Island Governor aims for 100% renewable power by 2030

17/01 Rhode Island Governor Gina Raimondo signed an executive order on Friday aiming for renewable energy to provide all of the state's electricity by 2030 to fight climate change.. . .  Full story

Investors expect strong demand for 20-year Treasuries

17/01 The U.S. is likely to see solid demand for its first sale of 20-year bonds in more than three decades, investors and analysts said Friday, as the Treasury Department looks for fresh ways to. . .  Full story

U.S. drillers add oil rigs for first week in four -Baker Hughes

17/01 U.S. energy firms this week added oil rigs for the first time in four weeks even as the pace of growth in record crude output is expected to slow.. . .  Full story

U.S. job openings post biggest drop in more than four years

17/01 U.S. job openings recorded their biggest drop in more than four years in November, while hiring increased moderately, suggesting a loss of momentum in the labor market at the tail end of 2019.. . .  Full story

Toyota completes $1.3 bln modernization project at Indiana facility

17/01 Toyota Motor Corp said on Friday it had invested an additional $700 million and added 150 new jobs to complete a $1.3 billion modernization program at its Princeton, Indiana factory.. . .  Full story

Sinopec to review potential $16 bln U.S. gas deal with Cheniere - sources

17/01 China's Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy Inc after a. . .  Full story

Walmart U.S. Chief Merchandising Officer Bratspies departs

17/01 Chief merchandising officer of Walmart Inc's U.S. operations, Steve Bratspies, is set to leave the big-box retailer, according to an internal memo sent on Friday.. . .  Full story

U.S. housing starts at 13-year high, factory output gains

17/01 U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest. . .  Full story

Schlumberger tops profit estimates, plans more cost cuts amid shale slump

17/01 Schlumberger NV on Friday outlined an aggressive cost-cutting plan for its North American operations as the world's largest oilfield service firm contends with sharp declines in U.S. shale activity.. . .  Full story

China's Liu says Phase 1 trade deal bolsters future Sino-U.S. relations

17/01 China's Vice Premier Liu He said Beijing and Washington signing the Phase 1 deal has created a beneficial condition for future Sino-U.S. relations, state media Xinhua reported, citing comments made on Wednesday.. . .  Full story

Mexican autoparts firms eye fast lane after US backs trade deal

17/01 Mexican auto parts manufacturers with clients across North America expect a record year after U.S. approval of a trade deal mandating higher regional inputs, but the new rules pose a bigger challenge to carmakers.. . .  Full story

TSX climbs fresh record peak on China data boost

17/01 Canada's main stock index hit another all-time high on Friday, tracking gains in global equities, as upbeat Chinese economic data pointed to signs of stabilization in the world's second-largest economy.. . .  Full story

U.S. manufacturing output rises unexpectedly

17/01 U.S. manufacturing output rose unexpectedly in December as a drop in motor vehicle output was outpaced by increases in production of other durable goods, food and beverages, and other products.. . .  Full story

Baltic index dips on subdued demand for capesize vessels

17/01 The Baltic Exchange's main sea freight index fell on Friday, as a fall in capesize vessel rates on weak demand outweighed gains in the other vessel segments.. . .  Full story

Bloomberg plan would make all new U.S. cars electric by 2035

17/01 Democratic U.S. presidential hopeful Michael Bloomberg unveiled a plan on Friday to slash greenhouse gas emissions from transportation by making electric vehicles accessible to even low-income families and improving access to public transit.. . .  Full story

U.S. housing starts race to 13-year high in December

17/01 U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest. . .  Full story

The yield curve's still weird. Fed's Bullard is okay with that

17/01 It was more than a year ago when St. Louis Federal Reserve bank President James Bullard started raising the alarm about a U.S. bond market where interest rates seemed to show investors losing faith. . .  Full story

France tells US: back a global digital tax or risk others going solo

17/01 The United States risks a proliferation of national taxes on tech giants if President Donald Trump rejects new international rules for taxing digital companies at next week's World Economic Forum, the French government said on. . .  Full story

U.S. oil and gas boom tamed by sharply lower prices: Kemp

17/01 U.S. oil and gas production growth is slowing, as lower prices force shale firms to reduce new well drilling and completion rates, and the slowdown is set to intensify this year.. . .  Full story

China's Ant aims for $200 bln price tag in private share sales - sources

17/01 Ant Financial shares are being offered privately at levels which value the Chinese financial giant at $200 billion, two people with knowledge of the discussions said, lifting it up the ranks of the most valuable. . .  Full story

Japan's MUFG replaces CEO after one year, digital chief to take helm

17/01 Mitsubishi UFJ Financial Group Inc on Friday said it was replacing its CEO with its digital chief after one year, a rare move that illustrates the deepening urgency at Japan's biggest bank about the. . .  Full story

Happy ending still elusive in Italian broadband drama - sources

17/01 Telecom Italia's efforts to recruit investors to help it to create a national broadband champion with Open Fiber have stalled, sources close to the matter say, as it is proving hard to hammer out. . .  Full story

Japan Dec exports seen falling at slower pace on tech pick-up

17/01 Japanese exports are expected to have fallen for a 13th straight month in December but at a slower pace than the previous month, a Reuters poll found, offering some hope for a recovery in. . .  Full story

Prompt Asian prices hit 4-month low, drop below $5/mmBtu

17/01 Asian spot prices for liquefied natural gas (LNG) for the current month fell below $5 per million British thermal units (mmBtu), to their lowest in four months, as buyers remained on the sidelines ahead. . .  Full story

Temasek, Trustbridge target majority stake in WeWork China at $1 bln valuation – sources

17/01 Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told. . .  Full story

China to roll out more support measures as economy faces pressure -stats head

17/01 China will maintain a proactive fiscal policy and a prudent monetary policy in 2020 and roll out more support measures this year as the economy faces downward pressure, the chief of the country's statistics. . .  Full story

California grants loan license to pay-later outfit Sezzle

17/01 Sezzle Inc said on Friday that a Californian regulator had approved its application for a lending license, sending its shares sharply higher although the approval came with a fine and a rap on the. . .  Full story

U.S. Senate passes North America trade deal, Canada still to approve

17/01 The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely. . .  Full story

EU's Hogan says bid to reset trade ties with U.S. off to 'good start'

17/01 European Union trade commissioner Phil Hogan said his meetings with senior U.S. officials marked a "good start" to resetting trade ties with Washington, but there was more work to do.. . .  Full story

CME hog futures slide on U.S.-China trade deal uncertainty

17/01 U.S. lean hog futures on the Chicago Mercantile Exchange (CME) fell about 1.5% on Thursday, joining a broad sell-off in agricultural futures that traders attributed to fund selling and uncertainty about the details of a. . .  Full story

Gap pulls plug on Old Navy spinoff to focus on turning around sales

17/01 Gap Inc on Thursday scrapped its plan to spin-off Old Navy and said it would instead work to stem dropping sales, while fewer discounts during the holiday season helped full-year earnings, sending its shares. . .  Full story

EU's Hogan says off to 'a good start' on resetting trade ties with U.S.

17/01 European Union trade commissioner Phil Hogan said his meeting with senior U.S. officials marked a "good start" to resetting trade ties with Washington, but there was more work to do.. . .  Full story

Corn, soy to 1-month lows; wheat also down on China demand doubts

16/01 U.S. corn and soybean futures hit one-month lows on Thursday and wheat futures followed amid doubts about whether China will make the purchases from the United States promised in a trade deal between the. . .  Full story

Apparel retailer Gap calls off plan to spin-off Old Navy

16/01 Apparel retailer Gap Inc on Thursday called off a plan to spin-off its Old Navy brand due to weak business performance, costs and the complexity of splitting into two.. . .  Full story

Atlantia motorway unit pledges to boost investment, maintenance spending

16/01 The motorway unit of infrastructure group Atlantia pledged to increase by 40% its spending on road maintenance in the next four years, as it tried to break a standoff with the Italian government over the. . .  Full story

Trade deal no panacea for rocky U.S. relations with China

16/01 From Huawei to the South China Sea, deep political rifts between Beijing and Washington are set to persist, despite a trade relations breakthrough, as the United States pushes back against an increasingly powerful and assertive. . .  Full story

S&P 500 blasts through 3,300 as tech stocks surge

16/01 The S&P 500 rallied through the 3,300 mark for the first time on Thursday and the other main U.S. indexes also surged to record highs, fueled by tech stocks, solid retail sales data and. . .  Full story

Microsoft to erase its carbon footprint, past and future, in climate push

16/01 Microsoft Corp on Thursday set a new ambition among Fortune 500 companies in addressing climate change, pledging to remove as much carbon as it has emitted in its 45-year history.. . .  Full story

Which company just hit $1 trillion? Google it.

16/01 As Google-parent Alphabet Inc became on Thursday the fourth U.S. company to top a market value of more than $1 trillion, some funds holding its shares are wondering whether now is the time to. . .  Full story

U.S. farmers expected to get third and final tranche of trade aid -Ag secretary

16/01 U.S. Agriculture Secretary Sonny Perdue said he expected the federal government to pay farmers a third and final tranche of 2019 trade aid a day after an initial deal with China was signed, Bloomberg. . .  Full story

Alphabet public market capitalization tops $1 trillion

16/01 The public market capitalization of Google parent Alphabet topped the $1 trillion mark shortly before the close of trading on Thursday, making it the fourth S&P 500 component to top the lofty level.. . .  Full story

Big Tech and their carbon pledges

16/01 Microsoft Corp said on Thursday it would take out of the atmosphere as much carbon as the company had ever produced, joining U.S. tech giants in setting ambitious goals for combating climate change.. . .  Full story

How the North American trade deal will affect autos, digital trade, drugs

16/01 The U.S.-Mexico-Canada trade agreement (USMCA) that was passed by the U.S. Senate today modernizes the 26-year-old North American Free Trade Agreement that has been blamed for hollowing out the U.S. manufacturing sector.. . .  Full story

U.S. yields up on strong bank earnings and economic data

16/01 U.S. Treasury yields rose on Thursday on positive economic data and bank earnings, and higher demand for stocks. The benchmark 10-year yield was up 2.1 basis points in afternoon trading at. . .  Full story

U.S. SEC Democratic Commissioner Jackson to step down next month

16/01 Rob Jackson, a Democratic commissioner at the U.S. Securities and Exchange Commission, said on Thursday he will step down from the agency on Feb. 14 to continue teaching at New York University School of. . .  Full story

Kirkland's C$4.4 bln bid for Detour wins backing from proxy advisory firms

16/01 Kirkland Lake Gold Ltd's C$4.4 billion ($3.4 billion)all-stock offer to buy rival Detour Gold Corp has won backing from two influential proxy advisory firms on grounds the target's shareholders would reap benefits from a larger. . .  Full story

Bombardier shares dive on profit warning, A220 writedown fears

16/01 Bombardier Inc shares fell 37% on Thursday after the company warned its 2019 profits would be lower because of problematic rail contracts and said it might have to write down the value of a. . .  Full story

U.S. holiday sales rise 4.1% in 2019 on strong online sales - NRF

16/01 U.S. holiday sales rose 4.1% in 2019 from a year earlier, as steady wage and jobs growth encouraged shoppers to splurge on groceries, beverages and furniture, the National Retail Federation (NRF) said on Thursday.. . .  Full story

Global economy anaemic and incomes likely to suffer, UN says

16/01 People in a number of countries, mostly in Latin America and sub-Saharan Africa, will see their incomes stagnate or decline this year, the United Nations said on Thursday.. . .  Full story

U.S. data point to moderate economic growth, tightening jobs market

16/01 U.S. retail sales increased for a third straight month in December, with households buying a range of goods even as they cut back on purchases of motor vehicles, suggesting the economy maintained a moderate. . .  Full story

U.S. allows time to wind down deals hit by fresh Iran sanctions

16/01 The U.S. Treasury Department said on Thursday it will allow for a 90-day period to wind down transactions in certain sectors of Iran's economy hit with fresh U.S. sanctions last week.. . .  Full story

Morgan Stanley shares soar after Gorman boosts performance targets

16/01 Morgan Stanley lifted its performance goals on Thursday after beating Wall Street estimates by a wide margin, the latest sign that Chief Executive James Gorman's strategic vision for the bank is bearing fruit.. . .  Full story

Far Point to buy tax-free shopping firm Global Blue at $2.6 bln valuation

16/01 Far Point Acquisition Corp, a blank-check company set up by hedge fund Third Point LLC and ex-New York Stock Exchange President Thomas Farley, said on Thursday it had agreed to acquire shopping tax refund. . .  Full story

Hines snaps up Milan's landmark Velasca Tower from Unipol

16/01 U.S.-based real estate group Hines has acquired the landmark Velasca Tower in the centre of Milan from Italian insurer Unipol and plans to transform the building into a luxury office-led complex, the company said. . .  Full story

TSX hits record high on U.S.-China deal relief, Bombardier slides

16/01 Canada's main stock index scaled a new all-time peak on Thursday, as the signing of an initial U.S.-China trade deal offered some relief to investors, while shares of Bombardier tumbled to a near four-year. . .  Full story

Fed's Bowman: Current interest rate likely appropriate for "this year"

16/01 The U.S. Federal Reserve is likely to leave interest rates on hold throughout 2020 absent an economic shock, Fed Governor Michelle Bowman said on Thursday in remarks that included a bullish outlook for an. . .  Full story

U.S. business inventories post biggest drop in 2-1/2 years

16/01 U.S. business inventories fell by the most in more than 2-1/2 years in November as sales rebounded, suggesting inventory investment could be a drag on economic growth in the fourth quarter.. . .  Full story

Baltic index flat as panamax demand offsets capesize 9-month low

16/01 The Baltic Exchange's main sea freight index stayed flat on Thursday, as rise in demand for panamaxes offset fall in capesize rates, with the capesize index dropping to near 9-month low.. . .  Full story

Defying U.S. sanctions, Iran boosts gasoil sales to neighbours

16/01 Iran is relying on its neighbouring countries to sell a surplus of gasoil it has created at home due to U.S. sanctions, trade documents and industry data showed.. . .  Full story

Trump cites 'great position' for a Phase 2 trade talks with China

16/01 U.S. President Donald Trump on Thursday pointed to Phase 2 trade talks with China, a day after Washington and Beijing inked a preliminary Phase 1 agreement, but gave no other details about the next. . .  Full story

During Bezos visit, India minister says Amazon's $1 bln investment is no big favour

16/01 Amazon hasn't done India any big favours by announcing a new $1 billion investment, its trade minister said on Thursday, laying bare tensions with the U.S. online retail giant during a visit to the. . .  Full story

U.S. import prices rise in December, but trend subdued

16/01 U.S. import prices increased in December, leading to the first year-on-year increase in nine months, but the underlying trend remained weak, consistent with subdued imported inflation.. . .  Full story

U.S. retail sales increase in December; November sales revised up

16/01 U.S. retail sales rose for a third straight month in December, with households buying a range of goods even as they cut back on purchases of motor vehicles, which could strengthen the view that. . .  Full story

U.S. weekly jobless claims drop more than expected

16/01 The number of Americans filing for unemployment benefits fell more than expected last week, pointing to sustained labor market strength despite a recent slowdown in job growth.. . .  Full story

Barrick sees gold output above estimates on Nevada boost

16/01 Canadian miner Barrick Gold Corp's fourth-quarter gold production estimates came above analysts' expectations on Thursday, as its Nevada Gold Mines joint venture with Newmont Corp yielded more of the precious metal.. . .  Full story

COLUMN-What happens if China really does try to buy $52 billion of U.S. crude, coal, LNG?: Russell

16/01 The problem for energy markets isn't whether China can actually buy the amount of crude oil, coal and liquefied natural gas (LNG) it has apparently committed to under the trade truce with the United States.. . .  Full story

Disease that killed millions of China's pigs poses global threat

16/01 Bettie the beagle, a detector dog for U.S. Customs and Border Protection, picked up the scent of pork on a woman arriving from China at Chicago's O'Hare International Airport.. . .  Full story

What to watch as Q4 earnings kick into high gear

16/01 U.S. corporate reporting season is expected to show lackluster profit growth, and it has already gotten off to a bumpy start, with big banks kicking off the fourth quarter to mixed investor reaction so. . .  Full story

India's state-run cotton buyer raises procurement to help farmers

16/01 India's state-run cotton buyer is set to procure more than 5 million bales from farmers in 2019/20, the highest in five years, as local prices come under pressure due to surplus production, the head. . .  Full story

Chinese demand for U.S. LNG unlikely to surge as long as tariffs remain

16/01 Chinese purchases of U.S. liquefied natural gas (LNG) are unlikely to surge, despite an agreement for China to buy more U.S. energy supplies, because tariffs on gas from the United States remain in place,. . .  Full story

Malaysia talks to India over palm curbs as wider trade dispute looms

16/01 Malaysia is talking to the Indian government and trade officials in a bid to resolve concerns over New Delhi's new palm oil import restrictions, a minister in Kuala Lumpur said on Thursday amid a. . .  Full story

China's U.S. crude buying binge to set off global sweet oil shake-up

16/01 Sharply higher Chinese purchases of U.S. energy products as part of the China-U.S. trade deal will shake up global crude oil trade flows if American supplies squeeze rival crudes out of the top oil. . .  Full story

China says trade deal good for all, media discourages 'nitpicking'

16/01 Chinese state media on Thursday warned against any "nitpicking" as Beijing portrayed the Phase 1 trade deal with United States and its new commitments to massive purchases of American goods as a boon for. . .  Full story

Trade deal touts financial sector wins; China to scrap securities business cap faster

16/01 The long-awaited U.S.-China trade deal touted wins for U.S. companies looking to access China's $40 trillion financial sector, but many of the changes were already in the works, with Beijing having stepped up the pace. . .  Full story

Taiwan's TSMC forecasts sharp rise in Q1 revenue, bets on robust 5G demand

16/01 Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast an up to 45% spike in January-March revenue and raised its capex plan for the year, betting robust demand for 5G smartphones would dial up profits at the. . .  Full story

China, U.S. sign initial trade pact but doubts and tariffs linger

16/01 China will boost purchases of U.S. goods and services by $200 billion over two years in exchange for the rolling back of some tariffs under an initial trade deal signed by the world's two. . .  Full story

Chinese financial institutions can cope with foreign competition -

16/01 Chinese financial institutions are completely capable of coping with foreign competition as the $40 trillion financial sector is freed up, the central bank said on Thursday, after China and the United States signed a. . .  Full story

China's home price growth at almost 1-1/2-year low, further softening seen

16/01 China's new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.. . .  Full story

How China tariffs on U.S. commodities, energy stand after Phase 1 trade deal

16/01 China and the United States have agreed to terms of a Phase 1 trade deal on Jan 15 but Beijing has not reduced or waived tariffs on any commodities or energy further.. . .  Full story

U.S. energy exports to climb as China pledges ramp-up in purchases

16/01 U.S. oil and gas exports should jump over the next two years if China fulfills its pledges to increase energy purchases under the trade deal between the world's two largest economies signed on Wednesday, executives. . .  Full story

Guangzhou Automobile says any investment in Nio would not exceed $150 mln

16/01 Chinese automaker Guangzhou Automobile Group Co Ltd said on Thursday it was in early talks with Tesla challenger Nio Inc about a financing proposal, but any potential investment would not exceed $150 million.. . .  Full story

China deal could hurt Malaysia palm oil exports to China- Malaysian official

16/01 Malaysia's palm oil exports to China jumped 33.9% in 2019 to 2.49 million tonnes but Beijing's latest trade deal with the United States could limit gains this year, a Malaysian palm official said on. . .  Full story

In U.S.-China Phase 1 trade deal, enforcement may end in 'We quit'

16/01 The Trump administration is touting the U.S.-China Phase 1 trade deal's dispute settlement and enforcement mechanism as the major difference between the 86-page agreement unveiled on Tuesday and past pledges by Beijing to change its. . .  Full story

With a mixture of fanfare and grievance, Trump signs U.S.-China trade deal

16/01 He listed familiar grievances, praised and criticized his guests, and seemed to blow off some steam.. . .  Full story

New Tesla registrations in California nearly halves in fourth quarter - data

16/01 Tesla Inc's overall vehicle registrations nearly halved in the U.S. state of California during the fourth quarter, according to a Dominion Cross-Sell report, which collates data from state motor vehicle records.. . .  Full story

CME hog futures end firm in muted reaction to U.S.-China trade pact

16/01 U.S. lean hog futures on the Chicago Mercantile Exchange (CME) inched higher on Wednesday as the United States and China signed a Phase 1 trade agreement that could lead to increased sales of U.S.. . .  Full story

'Phase 2' U.S.-China trade talks have already begun -Pence

16/01 U.S. Vice President Mike Pence said on Wednesday that discussions had already begun on a "Phase 2" U.S.-China trade deal, hours after Washington and Beijing signed an initial trade pact that defused some tensions but. . .  Full story

China to buy rare earths from U.S. as part of trade pact

16/01 China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, a move likely to boost U.S. production of the. . .  Full story

Egypt, Ethiopia, Sudan to finalize Blue Nile dam agreement this month

16/01 Ministers from Egypt, Ethiopia and Sudan agreed on Wednesday to reconvene in Washington later this month to finalize an agreement on a giant hydropower dam on the Blue Nile that sparked a diplomatic crisis between. . .  Full story

XPO Logistics considering sale or spin-off of business units

15/01 XPO logistics Inc said on Wednesday it was considering a possible sale or spin-off of one or more of its business units, sending shares of the warehousing and last-mile delivery provider up 15% in. . .  Full story

Dow closes above 29,000 after China and U.S. sign trade truce

15/01 The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed a Phase 1 trade agreement and. . .  Full story

Dispute settlement in U.S.-China trade deal aims to deter retaliation -official

15/01 The U.S.-China Phase 1 trade deal's dispute settlement and enforcement mechanism will take about 90 days to complete and is designed to deter retaliation against any punitive tariffs imposed, a senior Trump administration official said. . .  Full story

U.S., China tiptoe around holes in new trade agreement

15/01 The United States and China signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies. . .  Full story