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Russia extends counter-sanctions against US, EU & allies through 2020

3 hours ago DieselGasoil Comments Off on Russia extends counter-sanctions against US, EU & allies through 2020
President Vladimir Putin has signed a law prolonging the embargo against Western countries that have imposed anti-Russia sanctions. Restrictions will be in force until the end of next year. The document which was published on Russia’s official portal of legal information, reads: “To extend from January 1 to December 31, 2020 the operation of certain Read More

FedEx confirms Huawei mail ban as new ‘mistake’ reignites Chinese ire

6 hours ago DieselGasoil Comments Off on FedEx confirms Huawei mail ban as new ‘mistake’ reignites Chinese ire
(Reuters) – FedEx Corp has apologized for another Huawei delivery “mistake”, reigniting Chinese ire and drawing the fire of state media which suggested the U.S. delivery firm could end up on China’s upcoming list of companies that harm national interests. FILE PHOTO: A Federal Express truck makes its way down a freeway in San Diego, Read More

Down the yellow brick road: China buying gold & dumping dollar assets as trade war with US escalates

7 hours ago DieselGasoil Comments Off on Down the yellow brick road: China buying gold & dumping dollar assets as trade war with US escalates
Gold prices rallied to six-year highs last week and continued posting gains on Monday at $1,403 per ounce. China boosting its gold stockpile, to shift away from the US dollar, has added to the precious metal’s resurgence. The People’s Bank of China has purchased more than 70 tons of gold since December, according to the Read More

FedEx apologizes for returning Huawei phone, reigniting Chinese ire

8 hours ago DieselGasoil Comments Off on FedEx apologizes for returning Huawei phone, reigniting Chinese ire
(Reuters) – FedEx Corp has apologized for returning a package which the sender said contained a Huawei smartphone, blaming an “operational error” as it works to comply with U.S. restrictions on business with China’s Huawei Technologies Co Ltd. FILE PHOTO: A Federal Express truck makes its way down a freeway in San Diego, California August Read More

Extra tariffs on Chinese imports will cost Americans $18 billion-a-year, retail group warns

1 day ago DieselGasoil Comments Off on Extra tariffs on Chinese imports will cost Americans $18 billion-a-year, retail group warns
The world’s largest retail trade association has urged the Trump administration not to impose additional tariffs on China as it would make Americans pay another $18 billion-a-year for various products, from footwear to furniture. The world’s largest retail trade association has urged the Trump administration not to impose additional tariffs on China as it would Read More

Books vs Bucks: Trump’s China tariffs may result in a crippling ‘Bible tax,’ publishers warn

2 days ago DieselGasoil Comments Off on Books vs Bucks: Trump’s China tariffs may result in a crippling ‘Bible tax,’ publishers warn
The proposed tariffs on $300 billion-worth of Chinese imports may have an unintended consequence. A feared shortage of Bibles and children’s books will make the reading of Christianity’s holy text and other reads more expensive. Book publishers say that new levies the Trump administration has threatened to slap on Chinese goods may amount to ‘a Read More

Huawei files lawsuit against US government over seizure of equipment

2 days ago DieselGasoil Comments Off on Huawei files lawsuit against US government over seizure of equipment
Chinese tech giant Huawei has filed a civil lawsuit against the US Commerce Department over the mishandling of telecommunications equipment seized by American officials, demanding its release. According to the complaint, the US government took possession of hardware, including an ethernet switch and computer server, which was transported from China to an independent laboratory in Read More

Wall Street Week Ahead: Investors eye G20 with hopes for U.S.-China trade detente

3 days ago DieselGasoil Comments Off on Wall Street Week Ahead: Investors eye G20 with hopes for U.S.-China trade detente
NEW YORK (Reuters) – All eyes will be on U.S. President Donald Trump and China’s President Xi Jinping next week as investors are desperate for any signs of a thaw in U.S.-China relations even if it shifts expectations for much awaited Federal Reserve interest rate cuts. The S&P 500 closed at a record high on Read More

Wall St. Week Ahead: Investors eye G20 with hopes for U.S.-China trade detente

3 days ago DieselGasoil Comments Off on Wall St. Week Ahead: Investors eye G20 with hopes for U.S.-China trade detente
NEW YORK (Reuters) – All eyes will be on U.S. President Donald Trump and China’s President Xi Jinping next week as investors are desperate for any signs of a thaw in U.S.-China relations even if it shifts expectations for much awaited Federal Reserve interest rate cuts. FILE PHOTO: U.S. President Donald Trump and China’s President Read More

IQE shares plunge as Huawei ban hammers tech suppliers

3 days ago DieselGasoil Comments Off on IQE shares plunge as Huawei ban hammers tech suppliers
(Reuters) – Shares in Britain’s IQE plunged as much as 40% on Friday after the tech supplier warned its 2019 revenue would miss forecasts, blaming a bigger than expected hit on the industry’s supply chain from U.S. restrictions on China’s Huawei. The United States restricted Huawei Technologies from buying U.S. goods in May, saying the Read More