The U.S. and the European union will suspend tariffs for four months tied to a long-running dispute over illegal subsidies for Boeing and Airbus, the president of the European Commission said Friday. The agreement is a step toward resolving the 17-year dispute that has led to retaliatory tariffs on billions of dollars of goods affecting a range […] Read more
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April. Saudi Arabia also said that it would extend its one million barrels per day voluntary production cut into April. The group approved the continuation of current production levels for April, except that Russia and […] Read more
The White House is holding firm on its decision not to punish Saudi Crown Prince Mohammed bin Salman over the murder of journalist Jamal Khashoggi, even as some critics accuse President Joe Biden of failing a crucial test of leadership. “Our national security team believes that going after the network responsible for these actions is the best […] Read more
Saudi Crown Prince Mohammed bin Salman approved an operation to capture or kill journalist Jamal Khashoggi in 2018, according to a U.S. intelligence report that could further strain U.S.-Saudi relations as the White House reassesses ties with Riyadh. The report by the Office of the Director of National Intelligence, released Friday, cited the crown prince’s […] Read more
U.S. stocks fell sharply Thursday as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names. The Dow Jones Industrial Average dropped 650 points from a record high. The S&P 500 lost 2.8%. The tech-heavy Nasdaq Composite slid 3.8% as Alphabet, Facebook, Apple and Microsoft all dipped […] Read more
The Food and Drug Administration’s staff endorsed Johnson & Johnson’s Covid-19 vaccine for emergency use, a critical step in bringing a third shot to the U.S. marketplace. The staff report released Wednesday is meant to brief the FDA’s Vaccines and Related Biological Products Advisory Committee, which will meet Friday to review J&J’s request for emergency use authorization. During […] Read more
U.S. Senate Majority Leader Chuck Schumer said on Tuesday he has directed lawmakers to craft a package of measures to counter China’s rise, capitalizing on bipartisan hardline sentiment on Beijing in Congress to strengthen the U.S. tech sector and counter unfair practices. Schumer said at a weekly press conference that he has directed committees to […] Read more
European banks have seemingly weathered the coronavirus crisis well, but there are still some major challenges ahead that have the potential to rattle the sector. There’s been a noticeable difference between the pandemic and the global financial crisis of 2008: European banks have a much stronger capital position now than they did before. This is in part […] Read more
DUBAI, United Arab Emirates — Saudi Arabia, in a bold and unexpected move, announced late Monday that by 2024 its government would cease doing business with any international companies whose regional headquarters were not based within the kingdom. The news has investors, bankers and expat workers buzzing — and scratching their heads. Saudi Arabia in recent years […] Read more
Donald Trump’s lawyers have started their case for the former president to be acquitted of inciting last month’s deadly riot at the US Capitol, arguing the impeachment trial is an act of “political vengeance”. Donald Trump speaks to supporters at Joint Base Andrews before boarding Air Force One for his last time as President. Photo: AFP/Getty Images […] Read more
