Americans, not Chinese, pay Trump tariffs: NY Fed study
When the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost – implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25% when the goods hit U.S. shores.
Going whole hog: U.S. tells exporters to report pig carcass sales as China buying soars
The U.S. Department of Agriculture said on Monday that commodity exporters must disclose sales of hog carcasses, giving officials and traders more insight into a surge of Chinese pork buying that has roiled global meat markets.
S&P 500, Nasdaq hit new highs as chips climb on trade optimism
The S&P 500 and the Nasdaq indexes hit fresh record highs on Monday as a report that the United States and China were nearing a trade truce sparked a rally in Apple and semiconductor stocks, with sentiment also buoyed by a raft of blockbuster deals.
Factbox: Uber’s legal challenges around the world
Uber was stripped of its London operating license on Monday for the second time in just over two years as the city’s regulator said the taxi app had put passenger safety at risk.
S&P 500, Nasdaq hit new highs as chips rally on trade optimism
The S&P 500 and the Nasdaq indexes hit record highs on Monday, as a report that the United States and China were nearing a trade truce sparked a rally in Apple and semiconductor stocks, with sentiment also buoyed by a raft of blockbuster deals.
Brazil minister says it’s ‘impossible’ to put value on Eletrobras privatization
Brazil’s mines and energy minister said on Monday it is “impossible” to say how much the privatization of state-run power company Eletrobras SA will raise, despite an earlier government estimate of 16.2 billion reais ($3.84 billion).
China and U.S. moving closer to trade deal, but no agreement on tariff rollbacks: report
China and the United States are “moving closer to agreeing” on a “phase one” trade deal, the Global Times, a tabloid run by the ruling Communist Party’s official People’s Daily, reported on Sunday.
World share markets rally on revived trade hopes; gold slips
Gold fell for a fourth straight session and global equity markets rallied on Monday, with the Nasdaq and S&P 500 hitting new highs on revived hopes the United States and China could soon sign an interim deal to end their prolonged trade war.
McDonald’s to pay $26 million to settle California wage lawsuit
McDonald’s Corp agreed to pay $26 million to settle a nearly seven-year-old lawsuit accusing the fast food chain of underpaying U.S. staff at its corporate-owned restaurants in California.
Oil steadies on U.S.-China trade talks optimism
Oil prices were little changed on Monday as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war.
