Wall Street at two-month low as trade tensions mount
Wall Street’s main indexes hit more than two-month lows on Wednesday, after China signaled further escalation in its trade war with the United States, fuelling fears that the dispute could be protracted and pressure global economic growth.
Huawei challenges U.S. defense bill as sanctions fight ramps up
China’s Huawei Technologies Co Ltd has filed a legal motion seeking to declare a U.S. defense law unconstitutional, in the telecom equipment maker’s latest bid to fight sanctions from Washington that threaten to push it out of global markets.
Wall Street slips as trade tensions fuel slowdown fears
The S&P 500 and the Nasdaq fell to their two-month lows on Wednesday after China signaled readiness to escalate the trade war with the United States, triggering fears of a long, drawn-out dispute that could weigh on global growth.
Bond bulls get a boost as trade tensions fan recession fears
The global bond rally accelerated on Wednesday, sending 10-year U.S Treasury yields to 20-month lows, as investors fearful of the fallout from the Sino-U.S. trade war sold shares and scurried for the safety of German and U.S. government debt.
U.S.’s Pompeo says Huawei is an ‘instrument of Chinese government’
Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.
Abraaj founder released from custody after $19 million bail payment
Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said.
Explainer: China’s rare earth supplies could be vital bargaining chip in U.S. trade war
Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers.
Nissan tells Renault ‘not opposed’ to Fiat Chrysler merger plan: Nikkei
Nissan on Wednesday told Renault it wasn’t opposed to its partner’s potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry.
Pakistan extends airspace closure on Indian border to June 14
Pakistani airspace on its eastern border with India will remain closed until June 14, a civil aviation official said on Wednesday, the latest extension months after a standoff between the arch rivals.
ArcelorMittal takes the knife to European steel output again
ArcelorMittal underlined the problems facing the European steel industry when it cut production for the second time this month, blaming weak demand and high imports.
