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How US-China trade deal achieved a little but left out a lot

The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to China. And American companies should face less pressure to hand over trade secrets to Beijing. But what the administration gained from the so-called Phase 1 ...

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US and China ‘very close’ to trade deal: Trump

Wall Street share markets hit a record high on signs of an imminent pause in the trade war between the US and China, reports BBC. Business chiefs who met White House officials on Thursday hinted that a deal could come this week. It would avert another round of tariffs that the US was due to impose on China on Sunday.President ...

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UK authorities give Amazon 5 days for new Deliveroo plan

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. ...

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U.S. dollar declines against euro amid upbeat German data

The U.S. dollar declined against the euro on Tuesday after upbeat German economic data boosted the common currency. A monthly survey published Tuesday by a German economic research institute showed the economic sentiment for Germany has risen sharply in December 2019, buoyed mainly by better-than-expected exports data. The Leibniz Center for European Economic Research in Mannheim (ZEW) said the latest ...

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European companies minimise risks from US-China trade war

European companies in China have been able to minimise the effect from the tariff war between Beijing and Washington, although some are considering relocating their businesses, the EU Chamber of Commerce said Monday. The world’s two biggest economies have been entangled in a lingering trade war for over a year, which has weighed on the global economy and resulted in ...

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China’s trade with US sinks in November amid tariff war

China’s trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war. Exports to the United States fell 23% from a year earlier to $35.6 billion, customs data showed Sunday. Imports of American goods were off 2.8% at $11 billion, giving China a surplus with the ...

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Iran unveils budget of ‘resistance’ against US sanctions

Iran’s President Hassan Rouhani on Sunday presented to parliament what he called a “budget of resistance” against crippling sanctions imposed by arch-enemy the United States. “Next year, similar to the current year, our budget is a budget of resistance and perseverance against sanctions,” Rouhani told parliament in remarks broadcast on state radio.

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India’s Maruti Suzuki recalls over 60,000 vehicles across 3 brands

India’s largest car manufacturer Maruti Suzuki has proactively recalled 63,493 certain petrol Smart Hybrid (SHVS) variants of Ciaz, Ertiga and XL6 vehicles, the company said in a statement to the Bombay Stock Exchange late Friday. The vehicles were manufactured by an overseas global part supplier between Jan. 1 to Nov. 21 this year for a possible defect with the Motor ...

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Saudi Aramco raises $25.6bn in world’s biggest share sale

State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering in Riyadh, reports BBC. The share sale was the biggest ever, surpassing that of China’s Alibaba which raised $25bn in 2014 in New York.Aramco relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad. The IPO will value ...

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Holidays bring phishing scam surge aimed at small business

The email looked legitimate, so Danielle Radin clicked on the link it contained, expecting to have her products included in a holiday gift guide. “I instantly regretted it,” says Radin, owner of Mantra Magnets, a website that sells wellness products. “It took me to some random website that looked like those pop-ups telling you that you’ve won the lottery.” Within ...

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