Asian factories slow as China-U.S. trade conflict starts to bite

HONG KONG (Reuters) – Manufacturing activity across Asia slowed in July, deepening concerns about the region’s economic outlook as an intensifying trade conflict between the United States and China sent shudders through their trading partners. FILE PHOTO: A worker walks past second-hand robots in a factory in Shanghai, August 21, 2015. REUTERS/Aly Song/File Photo A survey of purchasing managers released on Wednesday showed China’s manufacturing sector grew at its slowest pace in eight months in July, with new export orders

Read more

Asian shares edge up, but U.S. tariff plan stokes trade fears

SHANGHAI (Reuters) – Most Asian shares crept higher on Wednesday following a firm Wall Street finish, but gains were curbed by weak data in the region and intensifying fears over volatile Sino-U.S. trade relations. A woman walks in strong wind caused by Typhoon Lan, past an electronic board showing the graphs of the recent movements of Japan’s Nikkei average outside a brokerage in Tokyo, Japan, October 23, 2017. REUTERS/Issei Kato – RC1442136C90 Global markets had inched higher on Tuesday, helped

Read more

Trump to propose 25-percent tariff on $200 billion of Chinese imports: source

WASHINGTON (Reuters) – The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday. Shipping containers are seen on a cargo vessel at the Dachan Bay Terminals in Shenzhen, Guangdong province, China July 12, 2018. REUTERS/Stringer President Donald Trump’s administration said on July 10 it would seek to

Read more

Apple’s pricey iPhone X, subscriptions deliver earnings beat

(Reuters) – Apple Inc sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets on Tuesday, with subscriptions from App Store, Apple Music and iCloud services bolstering business. Apple also forecast revenue above expectations for the fall, when it typically launches new iPhone models, reassuring a nervous tech sector that saw sell-offs last week in Facebook Inc, Twitter Inc and Netflix Inc on concerns about their future growth. Apple also regained growth in China, where

Read more

Thyssenkrupp investor Elliott says divisions should have more say

FRANKFURT (Reuters) – Activist investor Elliott wants Thyssenkrupp (TKAG.DE) to give its business divisions more autonomy to pursue promising ventures, an Elliott executive told German daily Die Welt, following a leadership crisis at the German engineering group. FILE PHOTO: Thyssenkrupp’s logo is seen close to the elevator test tower in Rottweil, Germany, September 25, 2017. REUTERS/Michaela Rehle/File Photo Interim executives are taking the helm at Thyssen after CEO Heinrich Hiesinger and Chairman Ulrich Lehner resigned in July. Both had been

Read more

Pfizer CEO expects Trump to eliminate drug rebates

(Reuters) – Pfizer Inc (PFE.N) Chief Executive Ian Read said on Tuesday he believes the Trump administration intends to stop the practice of allowing rebates on prescription drug purchases, suggesting that U.S. drug pricing reforms may focus on middlemen rather than drugmakers. “I believe the administration does want to remove rebates, and they consider it a priority,” he said in an interview, following similar comments made on Pfizer’s conference call to discuss second quarter earnings. The administration has already proposed

Read more

Siemens thinks big with small-batch production

KARLSRUHE, Germany (Reuters) – German engineering group Siemens (SIEGn.DE) is redoubling its efforts in an area where it has traditionally lagged: managing the processing of materials into medicines, chemicals or foodstuffs. The headquarters of biopharmaceutical company BioNTech are seen in Mainz, Germany July 31, 2018. REUTERS/Ralph Orlowski Siemens excels at helping makers of cars, planes and trains make their production and assembly smarter by using its software to create distinct items and components – so-called discrete manufacturing. But when it

Read more

Industrials boost Wall Street on renewed trade hopes

(Reuters) – U.S. stocks rose on Tuesday, led by industrial companies, after a report that the U.S. and China were trying to resume negotiations to defuse a trade war between world’s two largest economies. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 27, 2018. REUTERS/Lucas Jackson Representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are having private conversations as they look for

Read more

UPS partners with LA-based startup to develop electric delivery truck

(Reuters) – United Parcel Service Inc said it would partner with a Los Angeles-based company to develop an electric medium-duty delivery truck, as the package delivery company expands its fleet of alternative-fuel vehicles. FILE PHOTO: Vehicles of United Parcel Service are seen at the new package sorting and delivery UPS hub in Corbeil-Essonnes and Evry, southern Paris, France, June 26, 2018. REUTERS/Charles Platiau The truck, developed jointly with electric commercial vehicle startup Thor Trucks Inc, is expected to be deployed

Read more

Pulp problems: Why shoppers may pay more for tissues, toilet paper

CHICAGO/LONDON (Reuters) – With toilet roll and tissues swept up in an escalating international trade row, it’s not just Procter & Gamble’s (PG.N) Charmin that’s going to get the squeeze. FILE PHOTO: Charmin toilet paper, a product distributed by Procter & Gamble, is pictured on sale at a Ralphs grocery store in Pasadena, California, U.S., January 21, 2014. REUTERS/Mario Anzuoni/File Photo Higher prices in the wake of possible tariffs would exacerbate what is already mounting pressure on consumer product company

Read more
1 2 3 4 5 29