Snap shares tumble as short sellers move in
SAN FRANCISCO/NEW YORK (Reuters) – Snap Inc’s shares tumbled 12 percent on Tuesday and traders raced to position themselves to cash in on further declines after analysts gave the company a lukewarm reception following its red-hot market debut.
China’s ZTE pleads guilty, settles U.S. sanctions case for nearly $900 million
NEW YORK/HONG KONG (Reuters) – Chinese telecom equipment maker ZTE Corp has agreed to plead guilty and pay nearly $900 million in a U.S. sanctions case, drawing a line under a damaging scandal that had threatened its cut off its supply chain.
Schaeuble rejects U.S. criticism of German trade surplus
BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble on Tuesday rejected U.S. criticism of Germany’s record current account surplus, setting the stage for a heated debate on trade when G20 policymakers meet next week.
U.S. to probe some Ford imports of hybrid electric vehicles, parts
WASHINGTON (Reuters) – The U.S. International Trade Commission said on Tuesday it has launched a patent-infringement investigation into imports of certain hybrid electric vehicles and parts by Ford Motor Co.
Exclusive: Mexico cancels sugar export permits to U.S. in trade dispute
MEXICO CITY (Reuters) – Mexico has canceled existing sugar export permits to the United States in a dispute over the pace of shipments, according to a letter seen by Reuters, in a flare-up industry sources said could temporarily disrupt supplies.
G20 draft no longer rejects protectionism or competitive devaluations
BRUSSELS (Reuters) – The world’s financial leaders may no longer explicitly reject protectionism or competitive currency devaluations, a draft communique of their meeting next week showed, promising only to keep an “open and fair international trading …
Oil imports lift U.S. trade deficit to near five-year high
WASHINGTON (Reuters) – The U.S. trade deficit jumped to a near five-year high in January as rising oil prices helped to push up the import bill, pointing to slower economic growth in the first quarter and posing a challenge for the Trump administration…
Trump says he is working on plan to bring down drug prices
WASHINGTON (Reuters) – President Donald Trump said on Tuesday he is developing a plan that will encourage competition in the drug industry and bring down prices for medicines, as the House of Representatives leadership unveiled a new health care plan.
HPE to buy Nimble Storage for $1.09 billion
(Reuters) – Hewlett Packard Enterprise Co said it would buy data storage provider Nimble Storage Inc for $1.09 billion in cash, to expand its presence in the fast-growing flash storage business.
Adidas says Ohlmeyer to succeed Stalker as CFO in May
FRANKFURT (Reuters) – Adidas on Tuesday said it appointed Harm Ohlmeyer, head of the group’s global eCommerce business, as new finance chief from May 12, replacing Robin Stalker, who will not extend his contract after more than 16 years in the job.
