Business

U.S.-China trade deal is 'fine', China still buying U.S goods: Kudlow

WASHINGTON (Reuters) – China is continuing to buy U.S. goods and particularly commodities under the U.S.-China Phase 1 trade deal signed in January, despite rising tensions on Hong Kong and other issues, White House economic adviser Larry Kudlow said on Tuesday. Asked if deteriorating ties between the world’s two largest economies on other fronts could […]

Business

Pandemic wrecks global Class of 2020’s hopes for first job – The Denver Post

LONDON — British fashion school graduate Phoebe St. Leger’s dream of landing a job at a design label is on hold. Like many others in the global Class of 2020, the pandemic is clouding her career ambitions. The coronavirus forced the cancellation of her university graduating class’s final-year fashion show, removing the chance to show […]

Business

Shares edge up as positive China industrial data outweighs trade jitters

LONDON (Reuters) – Share markets rose on Monday as stronger industrial activity in China offered signs it was recovering from the coronavirus pandemic that outweighed jitters over U.S.-Sino trade tensions. The Euro STOXX 600 rose 0.4% and London’s FTSE .FTSE 0.5%. European oil and gas shares .SXEP were up 1.1% as rising oil prices added […]

Business

Saudi Aramco's profit plunges, sees signs of oil market recovery

DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $75 billion in dividends this year and CEO […]

Business

Barclays being probed by UK privacy watchdog on accusations of spying on staff

BENGALURU (REUTERS, BLOOMBERG) – Barclays is being probed by the United Kingdom’s privacy watchdog, the Information Commissioner’s Office (ICO), over allegations that the British bank spied on its staff, the agency said on Sunday (Aug 9). Earlier this year, Barclays said it was changing a system that the bank was piloting, which tracked how employees […]

Business

Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegations

(Reuters) – Eastman Kodak Co’s $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to “recent allegations of wrongdoing,” the U.S. International Development Finance Corp (DFC) said. Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its […]

Business

U.S. judge denies bail to two men accused of aiding Ghosn escape

(Reuters) – A U.S. district judge on Friday denied bail to two Massachusetts men accused of helping orchestrate former Nissan Motor Co Chairman Carlos Ghosn’s escape from Japan. Judge Indira Talwani rejected bail for U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor after Japan had sought their extradition. A magistrate had […]

Business

Chancellor: There is hardship ahead for many people as furlough ends

The chancellor has warned there is hardship ahead for many people as the furlough scheme winds down over the next few months. Rishi Sunak told Sky News that ending the furlough scheme was “one of the most difficult decisions I’ve had to make in this job”. He added: “If you look at it from start […]

Business

NYSE-owner ICE to buy Ellie Mae in $11 billion deal

(Reuters) – Intercontinental Exchange Inc (ICE.N) (ICE) said on Thursday it would buy Ellie Mae, a technology platform for the mortgage finance industry, from private equity firm Thoma Bravo in a deal valued at $11 billion. Strengthening its position in mortgage servicing has been a key focus for the owner of the New York Stock […]

Business

US Fed unveils instant payments system alternative to Facebook's Libra

WASHINGTON (AFP) – Noting security concerns posed by Facebook’s digital currency Libra, the Federal Reserve on Thursday (Aug 6) revealed details of its own instant payments system. FedNow will provide households and businesses with instant access to payments, for wages, government benefits or sales, without waiting days for checks to clear, the Fed said. The […]