US markets follow Europe downwards as China announces retaliation tariffs May 13, 2019 US markets have followed their European counterparts sharply downwards after the bell, following China's announcement of retaliatory tariffs on $60bn worth of US goods in the latest development in the two countries' trade war. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The US’s S&P 500 opened down 1.8 per cent [...]
US-China trade war: China retaliates with tariffs on $60bn of goods following US levy hike May 13, 2019 China’s ministry of finance has announced that it will place tariffs of between five and 25 per cent on $60bn worth of US goods in retaliation for America’s more significant duty increases. Read more: European markets take a hit over US-China trade war escalation It will target around 5,000 US goods from 1 June, the [...]
Chinese car sales fall for 10th straight month as US trade war picks up again May 13, 2019 Car sales in China, the biggest automotive market in the world, fell for the 10th consecutive month in April. Sales fell to 1.98m vehicles in April, according to the China Association of Automobile Manufacturers (Caam), marking a 14.6 per cent year on year decline. Read more: Car sales fall as removal of subsidies and Brexit [...]
A complicated outlook for oil prices May 13, 2019 Oil prices have surged by around 30% this year, but the rally off the Christmas lows has paused for breath. Despite the unrest in Venezuela and Iran sanctions denting the short-term supply outlook, coming at a time when OPEC and its allies are already curbing output in a bid to raise prices, Brent crude has [...]
Mr Congeniality: Trump says $200bn China tariffs are better than a ‘phenomenal’ trade deal May 10, 2019 US President Donald Trump has issued an impassioned defence of his tariff hike on $200bn worth of Chinese goods, saying they will bring in more wealth than “even a phenomenal” trade deal. Read more: China threatens retaliation as Trump rolls out $200bn tariff hike In a series of tweets, Trump said talks with China were [...]
US-China trade deficit falls ahead of crunch negotiations May 9, 2019 The US’s trade deficit in goods and services with China decreased in March, in news that will cheer the Trump administration as it prepares to ramp up tariffs on its largest trading partner. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The country's deficit with the rest of the world [...]
Trump claims China stalled on trade deal in hopes of dealing with Democratic president May 8, 2019 US President Donald Trump has claimed that China was seeking to U-turn on the trade deal struck between the two countries in the hope that it could renegotiate with a Democratic president following the 2020 election. Read more: Global markets in tailspin after Trump threatens huge China tariff rise He also said that China's vice-premier [...]
Global stocks continue downwards trend as poor Chinese data adds to trade fears May 8, 2019 Global stock markets have continued to slide today as investors digested the impending increase of US tariffs on goods from China and weaker-than-expected Chinese exports. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The UK benchmark FTSE 100 had fallen 0.4 per cent to 7,234.96 shortly after midday UK time [...]
Chinese exports unexpectedly fall as pressure builds to reach trade deal with US May 8, 2019 China’s gigantic trade surplus unexpectedly narrowed in April, as the country’s exports fell 2.7 per cent year-on-year in a sign that pressure from the US was hurting the Chinese economy. Read more: Global markets in tailspin after Trump threatens huge China tariff rise Imports fared better, however, rising four per cent in April after a [...]
Hackers steal $41m in bitcoins from crypto exchange Binance May 8, 2019 Hackers have stolen bitcoins worth roughly $41m (£31m) from cryptocurrency exchange site Binance, the company said today. Read more: Bitcoin price gains continue as it jumps to six-month high Binance said hackers had withdrawn 7,000 bitcoins in a single transaction after using techniques including phishing and viruses as part of a coordinated large-scale security breach. [...]