Category: US
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China halves tariffs on more than 1,700 US goods
China plans to halve tariffs on 1,717 goods it imports from the US as the country faces the fresh challenge of the coronavirus. Chinese officials said tariffs on some goods would be cut from to 5% from 10%, and on others from 5% to 2.5%. The two countries have been stuck in a long-running trade…
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Trump signs US Mexico Canada Trade Agreement
US President Donald Trump has formally signed a new trade pact with Mexico and Canada, bringing his campaign promise to replace the three countries’ existing deal closer to fruition. The US Mexico Canada Agreement (USMCA) is set to replace the 1994 North American Free Trade Agreement (Nafta). Mr. Trump has described Nafta as America’s “worst”…
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Oil prices jump after top Iranian general killed by US
Oil prices have risen sharply after the killing of a top Iranian general in Iraq. Analysts warned the action could escalate tensions in the region and affect global oil production. The price of Brent crude jumped by more than 3% and at one point hit $69.50 a barrel, the highest since September. It came after…
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Chinese billionaire ‘evaded $1.8bn in US tariffs’
Chinese billionaire Liu Zhongtian has been indicted in the US over allegations he evaded $1.8bn (£1.5bn) in tariffs on aluminium imports. Prosecutors accuse Mr Liu of using the aluminium company he founded to smuggle huge amounts of the metal into the US. The firm, China Zhongwang Holdings, did not immediately respond to a BBC request…
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Article: Facebook wants to know if you’d trust it with your money
By: Kurt Wangner When Facebook Inc. recently unveiled Libra, its long-awaited cryptocurrency, the company used the announcement as a chance to convey just how much care has gone into the digital asset. David Marcus, the former PayPal Holdings Inc. president who’s the social network’s blockchain boss, said at a June 11 preview held under the…
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Huawei to lose $30 billion revenue following US ban
China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as…
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Protester confronts World’s Richest man Jeff Bezos on stage
An animal rights activist came within a few feet of Jeff Bezos, the world’s richest man, on a stage in Las Vegas. Priya Sawhney evaded event security, as well as some of Mr. Bezos’ personal detail, which costs a reported $1.6m (£1.25m) per year. “Jeff, you are the richest man on the planet,” Ms. Sawhney…
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Boeing completes 737 Max software upgrade
Boeing has completed development of a software update for its 737 Max plane which was grounded following two fatal crashes within five months. The US firm announced that it had flown the 737 Max with the updated software on 207 flights. It added it would provide data to the Federal Aviation Administration (FAA) on how…
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Apple’s earnings would drop by nearly 30% if China bans its products, Goldman Sachs says
The U.S.-China trade war could take a big chunk out of Apple’s bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs. Analyst Rod Hall said in a note to clients that Apple’s earnings could drop by 29% if the company’s products were banned in mainland China. Apple’s China business…
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Huawei’s Android loss: How it affects you
The restrictions being placed on Huawei’s access to the Android operating system will cast a long shadow over Tuesday’s launch of the Chinese company’s latest handsets. The firm has invited press from across the globe to London to witness the unveiling of its Honor 20 Series smartphones. The BBC understands the devices will still offer…