• Apple became the first $1 trillion listed US company
    2018-08-02 18:06:54 UTC

    SAN FRANCISCO (Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. The tech company’s stock jumped 2.8 perce...
  • Plunge in Facebook shares rattled Amazon options market
    2018-07-26 18:56:45 UTC

    SAN FRANCISCO/NEW YORK (Reuters) - A plunge in Facebook Inc shares rattled the Inc options market on Thursday, with the social network’s fellow FAANG company due to report quarterly results later in the day. Facebook on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb, and its 20 pe...
  • Hostile rhetoric between Trump and Tehran escalating
    2018-07-23 16:27:09 UTC

    Hostile rhetoric between Washington and Tehran escalated on Sunday after a tit-for-tat between Trump and his Iranian counterpart, Hassan Rouhani. U.S. President Donald Trump told Iran it risked dire consequences “the like of which few throughout history have suffered before” if the Islamic Republic made more threats against the U...
  • Germany and China standing together against US protectionism
    2018-07-09 21:02:43 UTC

    BERLIN (Reuters) - Germany and China signed a raft of commercial accords worth some 20 billion euros ($23.5 billion) on Monday, with their leaders reiterating commitments to a multilateral global trade order despite a looming trade war with the United States. The deals, involving German industrial giants including Siemens, Volkswage...
  • Poll: 70 percent of Canadians boycott U.S. products
    2018-06-16 07:43:47 UTC

    OTTAWA (Reuters) - Seventy percent of Canadians say they will start looking for ways to avoid buying U.S.-made goods in a threat to ratchet up a trade dispute between Prime Minister Justin Trudeau and U.S. President Donald Trump, an Ipsos Poll showed on Friday. The poll also found a majority of Americans and Canadians are united in ...
  • United States completely isolated itself at G7 meeting
    2018-06-01 19:03:28 UTC

    WASHINGTON/WHISTLER, British Columbia (Reuters) — U.S. isolated at G7 meeting as tariffs prompt retaliation. At a meeting of the Group of Seven top world economic powers in Canada, France’s Finance Minister Bruno Le Maire castigated the United States for its tariffs, saying Washington was isolated. “Unfortunately we are going to ...
  • EU, Canada, Mexico announce retaliatory measures against US products
    2018-06-01 00:35:36 UTC

    WASHINGTON/PARIS (Reuters) - Canada and Mexico retaliated against the United State’s decision on Thursday to impose tariffs on steel and aluminum imports and the European Union had its own reprisals ready to go, reigniting investor fears of a global trade war. The tariffs, announced by U.S. Commerce Secretary Wilbur Ross in a teleph...
  • Wall Street stocks: Dow Jones falls nearly 400 points
    2018-05-29 21:41:34 UTC

    NEW YORK (Reuters) - A spiraling Italian political crisis provoked a global stock market sell-off on Tuesday, cut the euro to a 10-month low and spiked borrowing costs for the government in Rome. Investors fear that repeat elections - which now seem likely in the euro zone’s third-largest economy as soon as July - may become a de-fa...
  • EU and Mexico reached agreement on free trade deal
    2018-04-22 17:58:44 UTC

    BRUSSELS (Reuters) - German Chancellor Angela Merkel on Sunday welcomed an agreement reached between the European Union and Mexico on a new free trade deal, a coup for both parties in the face of increased protectionism from the United States under President Donald Trump, saying it would benefit Mexico, Europe and Germany. “The tec...
  • China asks EU to stand together against US protectionism
    2018-04-17 17:12:37 UTC

    BEIJING/BRUSSELS (Reuters) - China’s international trade representative held a series of meetings with the ambassadors from major European nations last week to ask them to stand together with Beijing against U.S. protectionism, according to four sources familiar with the discussions. Some of the western diplomats involved in the mee...
  • Trade Conflict Fears To Keep Markets On Edge
    2018-03-30 08:50:53 UTC

    BRUSSELS (Reuters) - A full-scale global trade war has not broken out yet - but that hasn’t stopped the market from fretting about one or analysts from warning about the potential cost. Whether such concerns remain a driving force for asset prices in the coming days depends largely on decisions, tweets and formal announcements from ...
  • European Union: It is not clear what Trump wants
    2018-03-23 16:29:14 UTC

    BRUSSELS (Reuters) - The European Union’s trade chief is unsure what Washington wants in return for a permanent EU exemption from steel tariffs but she warned on Friday that she would resist pressure to cut EU duties on U.S. cars. European Trade Commissioner Cecilia Malmstrom, who will lead negotiations on behalf of the 28-state Eur...
  • Trump sets China tariff plan, Dow plummets 720 points
    2018-03-22 20:30:02 UTC

    WASHINGTON (Reuters) - Global stocks had sold off on Thursday on the expectation of tough action from Trump, with U.S. markets down as much as 2.93 percent, plummets 724.42 points. The Dow and Nasdaq stock indexes had fallen as much as 2 percent while the benchmark S&P was down as much as 1.85 percent before midday, as investors fre...
  • Oil Prices Rose, Lifted by a Weak Dollar
    2018-03-20 07:11:11 UTC

    SINGAPORE (Reuters) - Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.59 a barrel at 0656 GMT, up 53 cents, or 0.9 percent, from their previous close. Brent cr...
  • Trade War: Mexico Rejects U.S. Bid to Split NAFTA
    2018-03-06 20:38:08 UTC

    WASHINGTON/MEXICO CITY (Reuters) - Republican lawmakers stepped up calls for President Donald Trump to pull back from proposed tariffs on steel and aluminum imports as key trading partner Mexico rejected a bid by Washington to drive a wedge between it and Canada in talks to renegotiate the North American Free Trade Agreement. Few de...
  • Trump's protectionist measures will hurt US economy
    2018-03-04 00:47:34 UTC

    WASHINGTON - Trump finally appears poised to make good on his promised threats to slam the door on free trade and erect walls around the country’s economy. The U.S. President kept up pressure on trading partners, threatening European automakers with a tax on imports if the European Union retaliates against his plan to slap tariffs ...
  • The Economic Consequences of Trump's Trade War
    2018-03-02 08:37:49 UTC

    SEOUL/SYDNEY (Reuters) - The U.S. oil and gas industry slammed President Donald Trump's plan to impose tariffs on imported steel, saying the move would kill energy jobs by raising costs for big infrastructure projects. Trump’s planned tariffs on steel and aluminum will distort global trade and cost jobs, Australia’s trade minist...
  • U.S. consumer prices rose more than expected in January
    2018-02-14 18:37:38 UTC

    WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations the Federal Reserve will have to quicken the pace of interest rate increases this year. The fairly strong inflation report from the Labor Department on ...
  • The Real Concerns About Markets As U.S. Inflation Looms
    2018-02-14 18:54:27 UTC

    New York — U.S. financial markets have been roiled recently by something neither the economy nor investors have had to contend with for the better part of a decade: concerns they may soon have to reckon with rising inflation. The S&P 500 .SPX.INX is down more than 7 percent from its lifetime high hit on Jan. 26, after falling as muc...
  • Dow Jones falls again, sending investors into a panicked frenzy
    2018-02-08 17:53:50 UTC

    (Reuters) - U.S. stocks turned lower in early trading on Thursday, with investors still on edge as volatility in financial markets persisted following the worst declines in more than two-and-a-half years earlier in the week. Wall Street ran out of steam on Wednesday after an early surge as investors were still cautious after a bruis...
  • 5 Reasons the US Market Is Crashing
    2018-02-06 04:38:54 UTC

    Dow Jones industrials plummets with largest drop since 2011. The US Dow Jones stock index plunged 4.6 percent Monday, in its biggest one-day percentage loss since 2011. The selloff has wiped off all its gains since the start of 2018. Asia shares have also been down sharply. The Dow Jones Industrial Average, an index of 30 major U...
  • Dow Jones Worst Day Since 2011
    2018-02-06 03:58:21 UTC

    TOKYO (AP) — Shares tumbled in Asia on Tuesday after a wild day for U.S. markets that resulted in the biggest drop in the Dow Jones industrial average in six and a half years. Japan’s Nikkei 225 index dropped as much as 5.6 percent in early trading Tuesday. By midday it was down 5.3 percent at 21,487.87. Hong Kong’s Hang Seng index ...
  • Bitcoin extended its sharp tumble of the past 24 hours
    2018-01-17 17:16:08 UTC

    (Reuters) - Bitcoin extended its sharp tumble of the past 24 hours, skidding more than 20 percent on Wednesday in a rapid downturn in fortunes as investors were spooked by fears regulators might clamp down on an asset whose value has skyrocketed in the past year. Bitcoin, which skyrocketed nearly 2,000 percent last year and hovered ...
  • Scotland Sees 'Golden' Chance to Stay in European Single Market
    2018-01-14 08:31:04 UTC

    EDINBURGH (Reuters) - Scottish leader Nicola Sturgeon said on Sunday there was a “golden opportunity” to argue for Britain to remain in the European single market after Brexit, as no-one had yet demonstrated the benefit of loosening trade ties with the EU. Sturgeon, whose nationalist SNP runs the devolved Scottish government, said t...
  • Canada reaches out to US Congress to bypass Trump on NAFTA
    2017-11-15 20:02:04 UTC

    OTTAWA (Reuters) - Canada will redouble its lobbying efforts in Congress to block any Trump administration move to pull the United States out of NAFTA, sources familiar with government strategy said, as talks to modernize the treaty run into trouble. Canadian officials, preparing for a fifth round of negotiations to update the 1994 ...