Business News Archives - Engage Newswire
Business News

China, U.S. to hold lower-level trade talks in late August

BEIJING (Reuters) - China will hold a fresh round of trade talks with the United States in Washington later this month, Beijing said on Thursday, offering a glimmer of hope for progress in resolving a conflict that has set world financial markets on edge. A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet U.S. representatives led by Under Secretary of Treasury for International Affairs Dav...

16 Aug 9:46 AM 0 Read More...

Shares, emerging market currencies steady after fresh mauling

LONDON (Reuters) - Bruised world shares and emerging market currencies fought to regain their footing on Thursday, after China said it will hold trade talks with the United States later this month and Turkey’s lira continued its recovery run. Asian equities had hit one-year lows overnight as they tracked Wednesday’s global falls and Tencent results disappointed, but a fresh recent high for the FTSE and modest gai...

16 Aug 9:46 AM 0 Read More...

In eye of the storm, Turkey's new finance chief faces credibility test

ISTANBUL (Reuters) - Turkish Finance Minister Berat Albayrak faces a key credibility test on Thursday when he hosts a conference call with global investors to reassure them that policy makers can contain the country’s worst currency crisis since 2001. Albayrak, President Tayyip Erdogan’s son-in-law, was named finance minister just over a month ago and is a relative unknown for international investors, who fear Tu...

16 Aug 9:46 AM 0 Read More...

Trump's latest boost to the dollar: U.S.-Turkey spat

NEW YORK (Reuters) - President Donald Trump has repeatedly called for a weaker U.S. dollar in a bid to help U.S. exporters, but his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the greenback. The dollar this week rose to a 13-month high against a basket of currencies, getting an extra boost as emerging markets have sold off on ...

16 Aug 9:46 AM 0 Read More...

U.S. tariffs to stay on Turkey, Qatar offers Ankara aid

ISTANBUL/WASHINGTON (Reuters) - The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in T...

16 Aug 9:46 AM 0 Read More...

SEC scrutiny of Tesla grows as Goldman hints at adviser role

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources. The electric carmaker’s shares fell as much as 4 percent but cut their losses after Goldman Sachs Group Inc said it was dropping equity ...

15 Aug 11:35 PM 0 Read More...

U.S. investor sues AT&T for $224 million over loss of cryptocurrency

NEW YORK (Reuters) - U.S. entrepreneur and cryptocurrency investor Michael Terpin filed a $224 million lawsuit on Wednesday against telecommunications company AT&T (T.N), accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account. In a 69-page complaint filed with the U.S. District Court in Los Angeles, Terpin alleged that on January 7, 2018, the to...

15 Aug 11:35 PM 0 Read More...

Cisco's software push fuels quarterly beat, strong forecast

(Reuters) - Cisco Systems Inc (CSCO.O) topped Wall Street targets for quarterly revenue and profit and forecast first-quarter sales above estimates on Wednesday, as the network gear maker’s transition to a software-focused company gains traction. Shares rose 6.1 percent to $46.53 in extended trading as the company also highlighted improving subscription-based revenue. Cisco, like other legacy technology companies, ...

15 Aug 11:35 PM 0 Read More...

U.S. stocks drop on downbeat earnings, trade tensions

NEW YORK, (Reuters) - Wall Street fell in a day of heavy trading on Wednesday with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries. Chinese technology company Tencent Holdings Ltd (0700.HK) reported its first profit decline in almost 13 years, putting pressure on the U.S. tech sector. Technology stocks...

15 Aug 11:35 PM 0 Read More...

Qatar to aid Turkey, currency rallies but U.S. says tariffs to stay

ISTANBUL/WASHINGTON (Reuters) - The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in T...

15 Aug 11:35 PM 0 Read More...