US Business

Amazon, Toyota, Alcoa and others working to counter Trump's tariff plans

03h30 Big companies in the United States from Inc to Toyota Motor Corp and Alcoa Corp are working to counter the effect of the Trump administration's trade policies and to head off new tariffs.. . .  Full story

U.S. open to lifting sanctions off aluminum giant Rusal -Mnuchin

01h48 The U.S. Treasury is open to removing Russian aluminum producer Rusal from a U.S. sanctions list, Treasury Secretary Steven Mnuchin said on Friday, adding the objective was "not to put Rusal out of business.". . .  Full story

U.S. lawmakers cut anti-ZTE measure from defense bill

01h14 U.S. lawmakers cut measures from a defense bill that would have reinstated sanctions on China's ZTE Corp, abandoning an attempt to punish the company for illegally shipping U.S. products to Iran and North Korea.. . .  Full story

Wheat tops one-month high on technical buying, export hopes

20/07 U.S. wheat futures sailed to their highest prices in more than a month on Friday on technical buying and expectations for increased U.S. exports as poor crop weather hurts harvests in other countries.. . .  Full story

Woodside exits Sempra Port Arthur LNG export project in Texas

20/07 Woodside Petroleum Ltd, Australia's biggest independent oil and natural gas company, has decided to pull out of Sempra Energy's Port Arthur liquefied natural gas (LNG) export project in Texas, Sempra said on Friday.. . .  Full story

Baltimore lawsuit blames oil and gas companies for climate change

20/07 The city of Baltimore filed a lawsuit on Friday against 26 oil and gas companies and entities, including BP Plc, Chevron Corp and Exxon Mobil Corp , for knowingly contributing to what the city. . .  Full story

Wall St slips as trade worries dampen upbeat earnings

20/07 U.S. stocks ended slightly lower on Friday as escalating trade anxieties driven by U.S. President Donald Trump's latest tariff threats against China offset a string of robust earnings led by Microsoft.. . .  Full story

U.S. court rejects Allergan bid to shield patents through tribe deal

20/07 A U.S. appeals court on Friday rejected a novel strategy adopted by drug company Allergan PLC to shield patents from review by an administrative court by transferring them to a Native American tribe.. . .  Full story

Over sorghum salad, U.S. farmers and Chinese buyers chew on trade

20/07 Chinese importers of the livestock feed sorghum feasted on tabbouleh salad and chipotle tortillas made with the U.S. grain at a Texas barbecue this week, as farmers try to woo buyers in the middle. . .  Full story

Trump's Fed worries steepen yield curve to three-week high

20/07 The U.S. yield curve reached its steepest level in more than three weeks on Friday afternoon as President Donald Trump criticized the speed of the Federal Reserve's pace of interest rate hikes.. . .  Full story

Oilfield service giants miss earnings forecasts despite soaring U.S. production

20/07 Oilfield service giants Schlumberger and General Electric Co's Baker Hughes missed second quarter revenue forecasts on Friday as slow international growth offset record production in the United States that boosted domestic demand for their services.. . .  Full story

Wall St Week Ahead-Wall St braces for tariff fallout as S&P 500 companies report

20/07 Tariffs are starting to bite big manufacturers and Wall Street could get another bout of caution and uncertainty from major industrial companies when a swath of reports comes in over the next week.. . .  Full story

U.S. crude oil floods into Italy as Libyan supplies falter

20/07 Italy's imports of U.S. crude oil vaulted to a record in June after attacks by armed groups shuttered two major Libyan oil ports and cut off most deliveries from the OPEC country, a key. . .  Full story

Gold snaps losing run after Trump slams strong dollar

20/07 Gold prices rose on Friday from one-year lows hit the previous day and spot platinum increased more than 3 percent after U.S. President Donald Trump criticized the strength of the dollar and interest rate increases. . .  Full story

U.S. lawmakers cut anti-ZTE measure from must-pass defense bill

20/07 U.S. lawmakers who reached an agreement on a must-pass defense bill cut from the legislation a measure that would have made it harder for the president to undo sanctions slapped on China's ZTE Corp ,. . .  Full story

U.S. drillers cut rigs by most since March this week - Baker Hughes

20/07 U.S. energy companies this week cut oil rigs by the most in a week since March as the rate of growth has slowed over the past month or so with recent declines in. . .  Full story

Honeywell eyes supplier shift to avoid tariff hit

20/07 U.S. industrial conglomerate Honeywell International Inc said on Friday it had started sourcing some of its components from countries other than China to counter growing costs related to a tariff war between the world's two. . .  Full story

Trump threatens tariffs on all $500 bln of Chinese imports

20/07 U.S. President Donald Trump on Friday said he was ready to impose tariffs on all $500 billion of imported goods from China, threatening to escalate a clash over trade policy that has unnerved financial. . .  Full story

Merkel vows to work at "under pressure" U.S. relationship

20/07 Chancellor Angela Merkel, vowing to stay in office despite stresses at home and abroad, said she would work on Germany's "under pressure" relationship with the United States but that Washington could no longer be. . .  Full story

U.S. carmakers expected to warn of tariff pain when releasing results

20/07 When Detroit's automakers report earnings on Wednesday, they are likely to highlight escalating tariffs and use the opportunity to warn investors of far greater pain ahead should U.S. President Donald Trump impose broader tariffs on. . .  Full story

GE beats on EPS but trims cash flow target; shares fall

20/07 General Electric Co reported a smaller-than-expected drop in profit on Friday, but cut a key financial target, raising questions about its full-year outlook and sending shares sharply lower.. . .  Full story

Canadians feel little pain of rate hikes - so far

20/07 Canadian consumers are feeling little pain from four rate hikes by the Bank of Canada, despite all warnings to the contrary, with most escaping higher monthly mortgage costs, others priced out of home buying. . .  Full story

Europe Gasoline/Naphtha-Cracks end week higher, demand lags

20/07 Benchmark northwest European gasoline refining margins ended the week higher, supported by weaker crude prices as overall demand remained relatively low. * Export activity was relatively slow throughout the week, with most. . .  Full story

Baker Hughes 2nd-qtr profit misses estimate; outlook upbeat

20/07 Baker Hughes, General Electric Co's oilfield services arm, on Friday reported a slight profit miss on weaker revenues in its oilfield equipment and turbomachinery businesses, but delivered an upbeat outlook for the second half of. . .  Full story

GE CEO says China tariffs' 'gross cost' could be $400 mln

20/07 General Electric Co, a major buyer of Chinese goods, estimates new tariffs on its imports from China could raise its costs by $300 million to $400 million overall before steps to lessen the impact,. . .  Full story

Microsoft shares at all-time high after bumper results

20/07 Microsoft Corp shares rose about 5 percent to an all-time high on Friday, after investors cheered another blockbuster quarter, backed by growth in its legacy software business and Azure cloud computing services.. . .  Full story

Turkey's Tupras reduces Iranian crude purchases as U.S. sanctions loom

20/07 Turkey's biggest oil importer Tupras has cut back purchases of Iranian crude since May, when the United States said it would re-impose sanctions on Tehran, and analysts say Tupras is likely to stick to lower. . .  Full story

Japan's Abe says Japanese auto imports are no threat to U.S. national security

20/07 Japan's Prime Minister Shinzo Abe said on Friday imports of Japanese automobiles pose no threat to U.S. national security, vowing to convince President Donald Trump not to impose tariffs that could damage the global economy.. . .  Full story

TSX opens lower as financials, industrials drag

20/07 Canada's main stock index opened lower on Friday, pressured by losses in financial and industrial stocks, as President Donald Trump threatened tariffs on all $500 billion of Chinese imports into the United States.. . .  Full story

Honduras appeals WTO landmark ruling on Australia's plain tobacco packaging

20/07 Honduras has appealed against a WTO ruling won last month by Australia on its "plain" packaging requirements for tobacco, a WTO spokesman said on Friday.. . .  Full story

Impact of trade tariffs on European companies

20/07 Some European companies are rethinking their strategies to cushion against the impact of trade tensions between the world's two biggest economies, the United States and China.. . .  Full story

-Skechers' underwhelming forecast, results send shares tumbling

20/07 Skechers USA Inc missed estimates for quarterly profit on Thursday, hit by a drop in sales at its domestic wholesale business and international distributor unit, sending the shoe maker's shares down nearly 27 percent after. . .  Full story

Japan Inc to chase casino stakes as key law passes -industry insiders

20/07 Japanese firms are likely to pursue stakes in the country's first casino resorts, after parliament on Friday enacted a law smoothing the way for large-scale gambling - a business expected to generate billions of dollars. . .  Full story

Kansas City Southern beats profit estimates as volumes rise

20/07 Kansas City Southern, a regional U.S. railroad operator with extensive operations in Mexico, topped Wall Street estimates for quarterly profit on Friday, as it moved higher volumes of petroleum, cars and chemicals.. . .  Full story