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Economy

The arrest of Meng, the daughter of Huawei's founder , sparked fears of a new escalation of tensions between the United States and China, which reached a truce in their trade war less than a week ago. The Wall Street Journal reported last month that U.S. officials had briefed counterparts in countries including Germany, Japan and Italy on potential security risks from Huawei equipment.
  • Powell Comments Suggest Fewer Rate Hikes Next Year

    Powell Comments Suggest Fewer Rate Hikes Next Year

    Economy

    Federal Reserve chairman Jerome Powell has opened the door for a potential pullback in projected U.S. interest rate hikes for 2019 following a widely expected increase in December. Some members noted the further appreciation of the United States greenback could also pose as a downside risk to the economy. Higher interest rates tend to slow economic growth over time as well as pressure stock prices according to Powell.
  • Plants Close as Economy Grows — Trump Slams GM

    Plants Close as Economy Grows — Trump Slams GM

    Economy

    In other tweets earlier in the week, Trump threatened to cut subsidies in response to the news. American auto industry giant General Motors ( GM) announced earlier this week that the company would eliminate several assembly plants in the U.S.
  • Saudi Energy Minister Goes to OPEC with a Weak Hand: Kemp

    Saudi Energy Minister Goes to OPEC with a Weak Hand: Kemp

    Economy

    Oil, which is trading at around $50 a barrel, is close to an economic sweet spot. The global benchmark for crude, Brent futures that expire in January were down by 2.4% to trade at a price of $58.76 per barrel on the ICE Futures Europe Exchange in London .
  • Wall Street gains on hopes of trade truce

    Wall Street gains on hopes of trade truce

    Economy

    The S&P 500 Index fell 0.4 per cent as of 11:34 a.m. U.S. crude oil futures settled down United States dollars 1.27, or 2.5 percent, at USD 50.29 a barrel, the lowest since October 9, 2017 after USA crude inventories rose for a 10th straight week to the highest in a year.
  • New Tariffs Could Hit Laptops, iPhones, Trump Says

    New Tariffs Could Hit Laptops, iPhones, Trump Says

    Economy

    The cancellation coincided with a new eruption in the controversy over whether Putin's government meddled to help elect Trump to the White House. Ushakov, Putin's aide, said the naval encounter between Russian Federation and Ukraine likely will be on the agenda of the planned meeting, which will start with the two presidents meeting privately before being joined by senior officials.
  • Trump eyes more China tariffs, pushing total upwards of $500bn

    Trump eyes more China tariffs, pushing total upwards of $500bn

    Economy

    The US is planning to raise tariffs on $200 billion of Chinese goods to 25 per cent. However, in recent years, we've seen that Apple's pricing has in many cases gone through the stratosphere. Could they not authorize new phones for sale in the country? "The main issue is how to settle down the trade war", the official said on condition of anonymity due to the sensitive nature of preparatory negotiations.
  • Tesla is slashing its prices in China again as tariffs bite

    Tesla is slashing its prices in China again as tariffs bite

    Economy

    Reducing the cost of the machines is an attempt to partially offset the impact of the new duties established in the territory of China. Still, there is some doubt about the sale of Tesla mid range Model 3 version for China. China has levied extra tariffs on US imports, including automobiles, in a blow to Tesla, which imports all light vehicles it sells in the market. The company had previously raised the prices of its two models by 20% in response to the 25% tariffs put in place by Beijing.
  • Dolce & Gabbana founders apologise for controversial China campaign

    Dolce & Gabbana founders apologise for controversial China campaign

    Economy

    At the centre of the controversy was a series of ads run on social media, to publicise the show. Chinese model and actress Zhang Ziyi slammed the brand on her account with her management later confirming that she would not be attending the show and that, along with her team, she would never be using or buying from Dolce & Gabbana again.