Markets
Trade war worries whack Wall Street and European markets. We're next!
But contradictory statements Monday from senior United States officials have muddied the waters on what path the White House will take. In late May, the USA announced new tariffs of up to 25 percent on steel and aluminum imports from allies Mexico, Canada and the EU. [Full Article...]
Erdogan rival accepts election results as world leaders congratulate Turkish president
Mr Ince received just 31%, despite a lively campaign attracting huge crowds. "It is transitioning toward a one-man regime", the 54-year-old said . Congratulations have come in from around the world, though some Western leaders have been slow to react. [Full Article...]
Trump lobs new threats against countries trading with the US
Trump's tweet comes days after he threatened to impose a 20 percent tariff on all European cars entering the U.S. "We don't want to fight (over trade) in public via Twitter". "The tariffs, if they materialize, would call into question the business case for many niche models we now sell in the United States", a senior executive at one carmaker told Reuters on Friday. [Full Article...]
Harley-Davidson will not raise prices to cover tariff costs
The firm's stock fell nearly 6% to $41.57 in a turbulent day for U.S. stocks amid concerns of a trade war. "Harley-Davidson maintains a strong commitment to US -based manufacturing which is valued by riders globally", executives said. Shares of Harley-Davidson ended the session sharply lower at $41.57, down six percent. Harley-Davidson's USA bike revenue dropped 8.5% previous year from 2016, but... [Full Article...]
Trade Rift Within Trump Administration Sends Stocks on Wild Ride
US stocks sank in a broad sell-off on Monday, with the S&P 500 dropping more than 1.5 percent and technology firms bearing the brunt of an escalating trade dispute between the United States and other leading economies. "The biggest uncertainty continues to be the simmering global trade tensions that we now think will not morph into a full-blown trade war", Stovall said. [Full Article...]
Donald Trump Slams Harley On Talks Of Moving U.S Production Base
In a Securities and Exchange Commission filing Monday, Harley-Davidson said the tariffs imposed by the European Union "would have an immediate and lasting detrimental impact to its business in the region". A US motorcycle sales slump has deepened since then, spurring Harley's decision in January to close a plant in Kansas City, Missouri, eliminating about 260 jobs. [Full Article...]
United States plans limits on Chinese investment in technology firms
During trade talks in Beijing on Monday, EU and Chinese leaders agreed to "resolutely oppose unilateralism and trade protectionism". The report comes after President Donald Trump's "America First" administration earlier this month announced new tariffs of 25% on US$50 billion (RM200 billion) in Chinese imports. [Full Article...]
China defends its USA investment record
Shares of Harley-Davidson fell more than seven per cent after the motorcycle maker said it would move production of motorcycles shipped to the European Union from the U.S.to its worldwide factories. Anxiety over the economic fallout is cutting deep in financial markets, with China's yuan sliding to a six-month low on Monday, and the country's stocks slipping with U.S. [Full Article...]