Business News

Mnuchin hopes for 'productive' trade meetings in China

BEIJING (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Wednesday he hopes for “productive” trade meetings in China this week, as the two countries seek to hammer out an agreement amid a festering dispute that has seen both level tariffs at each other. U.S. tariffs on $200 billion worth of imports from China are scheduled to rise to 25 percent from 10 percent if the two sides cannot reach a deal by a M...

13 Feb 4:59 AM 0 Read More...

Overseas tariffs sour U.S. whiskey exports

NEW YORK (Reuters) - American whiskey makers are feeling the pain after their major overseas markets imposed hefty duties on their liquor in retaliation against President Donald Trump’s tariffs on aluminum imports. U.S. global whiskey exports, which include rye and bourbons, recorded a nifty 28 percent year-over-year increase in the first six months 2018, the Distilled Spirits Council said on Tuesday. But once levi...

13 Feb 4:59 AM 0 Read More...

Ford told UK PM May it is preparing alternative production sites: The Times

(Reuters) - Ford Motor Co told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday. The automaker told the prime minister during a private call with business leaders that it is preparing alternative sites abroad, The Times said. Ford was not immediately available for comment. Ford, which operates two engine plants in Britain, last ...

12 Feb 11:55 PM 0 Read More...

Amazon, GM in talks to invest in electric pickup truck maker Rivian: sources

(Reuters) - Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. The deal would give Amazon and GM minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to b...

12 Feb 11:55 PM 0 Read More...

Boeing delivers 46 jets in January

(Reuters) - Boeing Co delivered 46 aircraft in January, two more than a year earlier, as the world’s biggest planemaker gears up for another year of record sales amid booming demand from the airline industry. Shares of Boeing rose as much as 1.5 percent to $409.88. Investors and analysts keep a close watch on the number of planes Boeing turns over to airlines and leasing firms for cues on the company’s revenue an...

12 Feb 6:54 PM 0 Read More...

Wall Street rallies on trade optimism, hopes of avoiding government shutdown

(Reuters) - Wall Street’s main indexes extended gains on Tuesday, in a broad-based rally after American lawmakers reached a tentative deal to avoid another partial government shutdown and on hopes of an agreement during the ongoing U.S.-China trade talks. President Donald Trump comments that he did not anticipate another government shutdown added to sentiment, even though he expressed unhappiness about the agreemen...

12 Feb 6:54 PM 0 Read More...

Red flags emerge as Americans' debt load hits another record

NEW YORK (Reuters) - Some red flags emerged for the U.S. economy late last year as credit card inquiries fell, student-loan delinquencies remained high and riskier borrowers drove home automobiles, according to a report that could signal a downturn is on the horizon. The U.S. household debt and credit report, published Tuesday by the Federal Reserve Bank of New York, showed that the overall debt shouldered by America...

12 Feb 6:54 PM 0 Read More...

Democratic senators urge administration to reject Sprint T-Mobile merger

WASHINGTON (Reuters) - A group of seven Democratic U.S. senators and independent Senator Bernie Sanders on Tuesday urged the Justice Department and Federal Communications Commission to reject the proposed $26 billion merger between T-Mobile US Inc and Sprint Corp. The letter signers include potential or confirmed presidential candidates Sanders, Amy Klobuchar, Sherrod Brown, Kirsten Gillibrand, Elizabeth Warren and C...

12 Feb 6:54 PM 0 Read More...

Airbus to give update on A380 shutdown plans: sources

PARIS (Reuters) - Airbus is nearing a decision to axe production of the world’s largest airliner and may give an update with full-year earnings on Feb. 14, industry sources and analysts said. The fate of the A380 superjumbo has been in doubt since a vital order from Emirates foundered over inconclusive engine talks, forcing Airbus and the airline to weigh an alternative plan that would trigger a premature halt to A...

12 Feb 6:54 PM 0 Read More...

Russian lawmakers back bill on ‘sovereign’ Internet

MOSCOW (Reuters) – Russian lawmakers backed tighter Internet controls on Tuesday to defend against foreign meddling in draft legislation that critics warn could disrupt Russia’s Internet and be used to stifle dissent. The legislation, which some Russian media have likened to an online “iron curtain,” passed its first of three readings in the 450-seat lower chamber of parliament. The bill seeks to r...

12 Feb 4:51 PM 0 Read More...