Business

US not swayed by WTO reform proposals

Dennis Shea U.S. Ambassador to the WTO arrives for the General Council meeting at the World Trade Organization (WTO) in Geneva, Switzerland, July 26, 2018. REUTERS/Denis Balibouse GENEVA (Reuters) – Proposals for reforming the World Trade Organization fail to deal with problems raised by the United States, U.S. Ambassador Dennis Shea told the WTO’s General Council on Wednesday. “With respect ...

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Wall Street set for strong open on Trump’s upbeat trade comments

(Reuters) – U.S. stock futures jumped 0.9 percent on Wednesday, joining a global equities rally, as President Donald Trump’s encouraging comments fueled optimism over trade negotiations between the United States and China. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 11, 2018. REUTERS/Brendan McDermid Trump, in an interview with Reuters, said ...

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Futures point to strong start after Trump’s upbeat trade comments

(Reuters) – U.S. stock futures rose about 0.7 percent on Wednesday, joining a global equities rally, as President Donald Trump’s encouraging comments fueled optimism over trade negotiations between the United States and China. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 11, 2018. REUTERS/Brendan McDermid Trump, in an interview with Reuters, ...

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Samsung to shut mobile phone plant in China’s Tianjin

SEOUL (Reuters) – Samsung Electronics will cease operations at one of its mobile phone manufacturing plants in China, the company said, as its sales in the world’s biggest smartphone market slumps amid rising competition from lower-cost local rivals. FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji ...

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China’s Tencent Music raises nearly $1.1 billion in U.S. IPO

NEW YORK/HONG KONG (Reuters) – China-based music streaming company Tencent Music Entertainment Group TME.N said it raised close to $1.1 billion in its U.S. initial public offering (IPO) after pricing its shares at the bottom of its targeted range. The music arm of gaming and social network giant Tencent Holdings Ltd (0700.HK) priced its American Depositary Receipts (ADRs) at $13 ...

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Washington takes center stage in bank branch battles

WASHINGTON (Reuters) – JPMorgan Chase & Co (JPM.N) has made a splash this year in Washington, D.C. opening branches for the first time in the nation’s capital. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo Smaller branches, ATM kiosks and mobile phone ...

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Canada frees CFO of China’s Huawei on bail

VANCOUVER (Reuters) – A top executive of Chinese telecoms giant Huawei Technologies Co Ltd was granted bail by a Canadian court on Tuesday, 10 days after her arrest in Vancouver at the request of U.S. authorities sparked a diplomatic dispute. Meng Wanzhou, Huawei’s [HWT.UL] chief financial officer and the daughter of its founder, faces U.S. claims that she misled multinational ...

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Samsung to suspend operations at China mobile phone plant

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji SEOUL (Reuters) – Samsung Electronics will suspend operations at one of its mobile phone manufacturing plants in China, a company spokeswoman said on Wednesday. Amid slumping sales and rising labor costs in China in recent years, Samsung has ...

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