Strategists optimistic on China even as US-China trade war climbdown looks far off
By Ankika Biswas(Reuters) -As financial markets pin their hopes on a de-escalation in the U.S.-China trade war, some experts caution that meaningful progress in striking a deal between the world’s two largest economies may still be some way off.”Either...
Canada’s services PMI shows steep contraction in April activity
By Fergal SmithTORONTO (Reuters) -Canada’s services economy contracted for a fifth straight month in April as uncertainty around trade policy and the Canadian general election weighed on activity, S&P Global’s Canada services PMI data showed on...
Chipmaker Onsemi forecasts upbeat quarterly revenue on resilient demand from EV makers
(Reuters) -Onsemi forecast second-quarter revenue above Wall Street expectations on Monday, as demand for its chips used in electric vehicles remains resilient despite economic uncertainty brought on by U.S. President Donald Trump’s tariffs on auto imports....
Skechers to be taken private for $9.42 billion in biggest footwear industry deal
By Savyata Mishra and Abigail Summerville(Reuters) -Skechers has agreed to be taken private by 3G Capital for $9.42 billion in the footwear industry’s biggest buyout to date, at a time when the company grapples with the impact of steep U.S. tariffs. Investment...
Apple will appeal contempt ruling in Epic Games case over App Store
By Mike Scarcella(Reuters) – Apple on Monday lodged an appeal to challenge a U.S. judge’s ruling that ordered the tech company to immediately open its lucrative App Store to more competition.Apple in a court notice said it will ask the San Francisco-based 9th...
US flies reusable hypersonic test vehicle for second time
By Mike StoneWASHINGTON (Reuters) -The U.S. performed a second successful test of a reusable hypersonic test vehicle in March, the Pentagon said on Monday, enabling quicker development of U.S. hypersonic capabilities.Unlike single use rockets, the reusable vehicle can...
Citigroup CEO says most clients can absorb 10% tariffs
NEW YORK (Reuters) -Citigroup CEO Jane Fraser said on Monday most of the bank’s clients could absorb U.S. tariffs of 10% the nation’s trading partners, but cautioned companies are waiting on investments and hiring until there is more economic...
Shell is studying merits of buying BP, Bloomberg News reports
(Reuters) -Shell Plc is working with advisers to evaluate a potential acquisition of rival BP Plc, though it is waiting for further stock and oil price declines before deciding whether to pursue a bid, Bloomberg News reported on Saturday citing people familiar with...