Page 2520 - Business Finance

Trump slaps tariffs on $200 billion in Chinese goods, threatens $267 billion more

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports, but he spared smart watches from Apple and Fitbit Inc and other consumer products such as bicycle helmets and baby car seats.

Trump cuts refugee admissions to 30,000 for 2019: Pompeo

The Trump administration slashed its annual cap on refugee acceptances Monday for the second year in a row, saying it would take only a maximum 30,000 in the fiscal year to come. That was down from a 45,000 limit in the year that ends on September 30 -- but higher than the actual number of refugees resettled in the past year, estimated at below 21,000. "The improved refugee policy of this administration serves the national interest of the United States, and expands our ability to help those in need all around the world," said Secretary of State Mike Pompeo. "We are and continue to be the most generous nation in the world.

Cigna deal gets antitrust nod, positive sign for CVS/Aetna

(Reuters) - Health insurer Cigna Corp's $52 billion acquisition of pharmacy benefits manager Express Scripts Holding Co has passed U.S. antitrust scrutiny, the companies said on Monday, allowing them to proceed with a combination they say will lead to lower costs by better coordinating pharmacy and medical benefits.

India committed to become $5 tn economy by 2025: Naidu

Vice President M. Venkaiah Naidu on Monday said that India is committed to be a five trillion dollar economy by 2025 while inviting Maltese business firms to come and invest in his country.Addressing at the India-Malta Business Forum here, Vice President Naidu said, "We aspire to improve trade and multilateral ties with Malta. Over the past few years, India witnessed a positive growth in stock market indices, foreign exchange reserves and public investments in infrastructure. Indian economy is growing at over 8 per cent and is currently one of the fastest growing major economies in the world."He stated that according to proposals made by international business and credit rating organisations like World Bank, World Economic Forum, International Monetary Fund and Moody's, India will be the third largest economy in the world.Underscoring the economic reforms taken by the Indian government, Vice President Naidu elucidated, "India has opened up. Our government has taken policies to make ...

New U.S. tariff threat on Chinese goods hits stocks, dollar

NEW YORK (Reuters) - A gauge of global equity markets eased and the dollar slipped on Monday as an expected new round of tariffs from Washington on Chinese goods made investors skittish about an escalation of a U.S.-Sino dispute over trade.

Wall Street slides ahead of Trump tariff announcement

NEW YORK (Reuters) - U.S. stocks fell on Monday, led by declines in technology and consumer discretionary stocks as investors looked to President Donald Trump's announcement regarding tariffs on $200 billion of Chinese imports.

Cigna-Express Scripts deal gets U.S. antitrust approval

(Reuters) - Health insurer Cigna Corp's $52 billion acquisition of pharmacy benefits manager Express Scripts Holding Co has passed U.S. antitrust scrutiny, the companies said on Monday, allowing them to proceed with a combination they say will lead to lower costs by better coordinating pharmacy and medical benefits.

Trump says he will announce decision on China tariffs after market close

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he would announce his latest plan for China tariffs after the markets close, with expectations he would levy about $200 billion worth of Chinese imports.

Argentine peso rises as IMF sees progress and Macri submits budget bill

BUENOS AIRES (Reuters) - Argentina's battered peso currency inched higher and the risk of its bonds defaulting declined on Monday after the government unveiled its budget plan and the IMF said "important progress" had been made on revamping the country's standby loan agreement.

Wall Street down as trade tensions weigh on tech, consumer discretionary stocks

NEW YORK (Reuters) - U.S. stocks fell on Monday led by declines in Apple and Amazon as investors took profits ahead of President Donald Trump's expected announcement of new tariffs on $200 billion of Chinese imports.

Coca-Cola looking at cannabis-infused drinks

Coca-Cola said Monday it is studying the use of a key ingredient in marijuana in "wellness beverages," as a growing number of mainstream companies develop cannabis-infused drinks. "We have no interest in marijuana or cannabis," Coca-Cola said in a statement. But iconic soft drink producer is "closely watching the growth of non-psychoactive CBD (cannabidiol) as an ingredient in functional wellness beverages around the world." Cannabidiol is a chemical in marijuana that does not have the intoxicating effects of THC, the major active ingredient that causes the "high." It has been used to treat epilepsy and other maladies. "The space is evolving quickly," Coca-Cola said. "No decisions have been made at this time." Coca-Cola's statement comes amid reports the company has held talks with Canada's Aurora Cannabis to develop beverages. Some of Coca-Cola's trademark cola products have struggled to grow sales in recent years due to health concerns. Canada is set to legalize cannabis on October .

Saudi Arabia invests $1bn in Tesla competitor Lucid

Saudi Arabia on Monday announced it has signed off on a $1 billion investment in US carmaker Lucid Motors with the aim of helping the Tesla rival roll out electric cars. The Public Investment Fund, which invests on behalf of the Saudi government, said the outlay was aimed at funding the commercial launch of the Lucid Air model in 2020, pending regulatory approvals and closing conditions. Saudi Arabia, the world's largest exporter of oil and a crucial US ally in the Middle East, has pushed to diversify its economy since the 2014 crude market crash. The kingdom faces a budget deficit of more than $260 billion and has borrowed over $100 billion to help finance the shortfall. The PIF has committed to $95 billion in investments in the past two years from firms like British tycoon Richard Branson's space tourism company Virgin Galactic to high-risk tech firms such as Tesla. Tesla chief executive Elon Musk disclosed last month that he was in talks with Saudi Arabia's PIF and other investors .

Oil near flat as market weighs U.S.-China trade tensions, Iran sanctions

NEW YORK (Reuters) - Oil prices were little changed on Monday as the market weighed deepening trade tension between the U.S. and China that is expected to dent global crude demand and potential supply tightening due to Iran sanctions.

Musk says Tesla now in "delivery logistics hell"

(Reuters) - The focus on Tesla Inc's battle to ramp up production swung to concerns over logistics and distribution on Monday, after Chief Executive Officer Elon Musk acknowledged there were delivery bottlenecks and promised to swiftly iron out the delays.

U.S. to spare some Apple products from latest China tariffs - Bloomberg

(Reuters) - The United States will spare some technology products including Apple Inc's Watch and AirPods from the next round of tariffs it is imposing on Chinese goods, Bloomberg reported on Monday, citing two people familiar with the matter.

ICRA downgrades ratings for IL&FS' borrowing programmes

Rating agency ICRA on Monday downgraded the ratings of Infrastructure Leasing & Financial Services Ltd (IL&FS) for short-term and long-term borrowing programmes.

Ugandan unit of Indian drugs firm Cipla raises $43.8 mln in IPO - Renaissance Capital

KAMPALA (Reuters) - The Ugandan unit of India's pharmaceutical giant Cipla raised 167 billion Ugandan shillings ($43.8 million) from its oversubscribed initial public offering (IPO), an investment bank that helped advise on the transaction said on Monday.

Ugandan unit of Indian drugs firm Cipla raises $43.8 million in IPO: Renaissance Capital

KAMPALA (Reuters) - The Ugandan unit of India's pharmaceutical giant Cipla raised 167 billion Ugandan shillings ($43.8 million) from its oversubscribed initial public offering (IPO), an investment bank that helped advise on the transaction said on Monday.

Corrected: Ugandan unit of Indian drugs firm Cipla raises $43.8 million in IPO - Renaissance Capital

KAMPALA (Reuters) - The Ugandan unit of India's pharmaceutical giant Cipla raised 167 billion Ugandan shillings ($43.8 million) from its oversubscribed initial public offering (IPO), an investment bank that helped advise on the transaction said on Monday.

H&M shares jump as logistics revamp helps speed sales

STOCKHOLM (Reuters) - H&M's sales bounced back in the third quarter, helped by a new logistics system, as the world's second biggest fashion retailer said a revamp to meet growing online and budget competition was paying off.