Category: US
-
US trade deficit climbs to $45.2 billion in November
The U.S. trade deficit in November rose to the highest level in nine months. Imports of oil and other foreign goods increased, while American exports fell for a second month. The Commerce Department says the trade deficit jumped 6.8 percent to $45.2 billion, the largest imbalance since February. Exports edged down 0.2 percent to $122.4…
-
U.S:Trump’s trade policy is ‘economic equivalent’ to denying climate change, Larry Summers says
Democratic economist Larry Summers on Tuesday blasted an analysis published by top Donald Trump advisors touting the benefits of the president-elect’s trade proposals. The analysis was a policy paper authored by Wilbur Ross, the billionaire investor Trump picked for Commerce secretary, and Peter Navarro, the economics professor Trump chose to head the new White House…
-
Citigroup may benefit less from tax cuts than other U.S. banks
Citigroup Inc (C.N) stands to get less of a profit boost than other big U.S. banks from lower corporate tax rates expected from the new government in Washington. A number of bank stock analysts have worked through broad tax proposals by Republicans and President-elect Donald Trump and estimate that a new tax law could increase…
-
Alibaba’s Ma meets Trump, promises to bring one million jobs to U.S.
Alibaba Executive Chairman Jack Ma met U.S. President-elect Donald Trump on Monday and laid out the Chinese e-commerce giant’s new plan to bring one million small U.S. businesses onto its platform to sell to Chinese consumers over the next five years, an Alibaba spokesman said. Alibaba Group Holding Ltd (BABA.N) expects the initiative to create…
-
FBI arrests Volkswagen executive on fraud charges: NYT
The Federal Bureau of Investigation has arrested a Volkswagen AG (VOWG_p.DE) executive on charges of conspiracy to defraud the United States, the New York Times reported on Monday. Oliver Schmidt, who headed the company’s regulatory compliance office in the U.S. from 2014 to March 2015, was arrested on Saturday by federal investigators in Florida, the…
-
Ahead of key lender meetings, battered Toshiba expects support
Toshiba Corp’s chairman expects lenders to offer support during key meetings over the coming weeks, as the chips-to-construction conglomerate prepares to book a multi-billion dollar hit to its core nuclear arm. Toshiba, still recovering from a $1.3 billion accounting scandal in 2015, shocked investors again last month by announcing cost overruns at a U.S. nuclear…
-
Suntory says not considering IPO of U.S. unit
Suntory Holdings is not planning to list its U.S. spirits unit Beam Suntory Inc [BSI.UL] on the New York Stock Exchange, a top executive said on Thursday, denying a Japanese media report. “We are not considering any listing in the U.S.,” Takeshi Niinami, the president of Suntory Holdings told reporters in Tokyo at a gathering…
-
IMF chief Christine Lagarde convicted over payout
A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment. As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm. Lagarde, who always denied wrongdoing, was not present in…
-
Oil prices rise in anticipation of tighter 2017 market
Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0756 GMT, up 20 cents from their last close. U.S.…
-
Dollar, yields, stocks all cool their jets
The dollar and U.S. bond yields fell on Monday while Asian shares hit a four-week low, as investors cashed in on some of their recent bets that the anticipated fiscal boost from the incoming Trump administration will support riskier assets. Wall Street hit record highs and the dollar rose to a 14-year peak last week,…