Macy’s CEO seeing tariff hit on furniture business
Macy’s Inc said on Wednesday the recent tariffs on Chinese imports by Washington is hitting the department store operator’s furniture business and executives cautioned that additional trade levies would leave its clothing and accessory categories vulne…
Mnuchin says China trade talks likely to continue in Beijing
U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the world’s two biggest economies try to salvage talks aimed at ending their months-long trade war.
Tencent profit tops forecast as fintech and cloud revenues surge
Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud revenues helped make up for declines in games.
Weak U.S. retail sales, industrial output point to slowing economy
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
Wall St. pares losses after Trump decides to delay auto tariffs
U.S. stocks pared losses on Wednesday after U.S. President Donald Trump decided to delay tariffs on auto imports by up to six months.
Ford to build more Lincolns for Chinese market locally: CFO
Ford Motor Co plans to start production of new luxury Lincoln models in China for that market as they are launched, starting with the new Corsair later this year, to benefit from lower costs and avoid the risk of tariffs, a top executive said on Monday…
Russia says it may sell contaminated oil at a discount: Ifx
Russia may sell contaminated oil at a discount, Energy Minister Alexander Novak was quoted as saying on Wednesday by Interfax news agency.
Boeing, aerospace group urge limits to U.S. tariffs over EU subsidies
Senior officials from Boeing Co and a U.S. aerospace trade group on Wednesday urged the U.S. government to narrowly tailor any tariffs imposed on the European Union over illegal aircraft subsidies to avoid harming American manufacturers.
U.S. business inventories unchanged; sales surge
U.S. business inventories were unchanged in March as sales increased by the most in more than two years, which could ease concerns of a broad build-up in inventories in the economy.
Macy’s CEO says recent tariffs to impact furniture business
Macy’s Inc said on Wednesday the recent hike in U.S. tariffs on Chinese goods will hurt its furniture business of the department store operator.
