Economy and business news from around the world

Economy

Wall Street plunges as Trump slaps China with new 10% tariff on $300B goods

The new tariff will effectively tax all Chinese exports to the US, in addition to the 25% tariff imposed on $250 billion worth of goods last May.

Aug 2, 2019

By Arthur Villasanta

Donald Trump

China navy soon to get second aircraft carrier: Type 001A set to join Liaoning

The new aircraft carrier is modelled on the Liaoning and will undergo four days of trials before its official commissioning

Aug 1, 2019

By James Patterson

Christine Lagarde is next European Central Bank president

Christine Lagarde moves to a whole new world as president of the European Central Bank.

Jul 3, 2019

By Arthur Villasanta

European Central Bank IMF

Hong Kong beats New York in cost of living, becomes most expensive city to live in

Tiny Hong Kong is again the city where expats will spend a lot more money to keep on going.,

Jun 27, 2019

By Arthur Villasanta

Hong Kong

Trump to decide next China tariffs after G20 summit

Recession is in the offing should Trump impose tariffs on all Chinese goods in July.

Jun 7, 2019

By Arthur Villasanta

Donald Trump

400,000 Americans to lose jobs if US tariffs on Mexico take effect

Trump's 5% tariffs on Mexico will eliminate 400,000 US jobs -- and that's just for starters.

Jun 6, 2019

By Arthur Villasanta

Mexico Donald Trump

Trump imposes 5% tariffs on all Mexico imports starting June 10

Trump gave Mexico one month to stop illegal immigrants before he doubles the new tariffs to 10% in July.

May 31, 2019

By Arthur Villasanta

Mexico Donald Trump

US economy now on \'recession watch,\' stock market 'deteriorating'

Trump's trade war is inflicting an increasingly painful toll on the US economy and on Wall Street.

May 29, 2019

By Arthur Villasanta

Donald Trump and China's President Xi Jinping

China Slams US: Won't Change State-Run Economy Despite Trade War Demands

China's newest salvo blasting Trump suggests trade talks with the U.S. are in deep trouble.

May 28, 2019

By Arthur Villasanta

US-China trade war will get worse and last longer, analysts say

Trump's trade war aginst China is here to stay and Wall Street has to live with it

May 24, 2019

By Arthur Villasanta

US tariffs on $200 billion Chinese goods

US-China trade war could lead to global recession, economist says

The trade war between the U.S and China holds ominous consequences for the global economy and the risk of recession is very high, warned an economist with Morgan Stanley.

May 21, 2019

By Kalyan Kumar

Trump declares national emergency over IT security

President Donald Trump declares a national emergency to limit the threat posed to the US by foreign IT technologies.

May 16, 2019

By Arthur Villasanta

Donald Trump

US consumers are paying for Trump's China tariffs, White House adviser Kudlow confirms

White House adviser Larry Kudlow correctly says it's U.S. consumers that are suffering from Trump's higher taxes on Chinese goods, and not the Chinese government as claimed by president Donald Trump.

May 13, 2019

By Arthur Villasanta

Donald Trump

US hikes tariffs on Chinese goods to 25%; China stocks rally

The new U.S. tariffs came into effect at 12:01 a.m. ET on Friday, following President Donald Trump's announcement to increase tariffs on Chinese imports worth $200 billion, from 10 to 25 percent,

May 10, 2019

By Kalyan Kumar

US-China trade talks: Trump says China \'broke the deal\'

American President Donald Trump has accused China of breaking a deal in the U.S.-China trade talks.

May 9, 2019

By Kalyan Kumar

Donald Trump

US, China trade talks to be resolved within 2 weeks, says Mulvaney

The fate of the U.S, China trade talks could be known in the next two weeks, according to White House chief of staff Mick Mulvaney.

May 1, 2019

By Kalyan Kumar

Donald Trump White House

Brexit extension: How much will it actually cost the UK to leave the EU?

The key uncertainties over the future payments arise from future contingencies and the final settlement of accounts with the EU.

Apr 18, 2019

By Jonathan Perraton

Brexit European Union

Lorries are backed up on the M20 motorway

UK economy took a 3% hit from Brexit uncertainty: S&P Global Ratings

Senior economist Boris Glass said the U.K. economy has foregone economic activity of £6.6 billion in each of the 10 quarters since the 2016 referendum.

Apr 4, 2019

By Pronita Naidu

Brexit Inflation

Brexit will reshape consumer shopping behaviour in UK: ING

Post-Brexit changes in import arrangements will make some grocery items expensive at local stores and make some disappear from shelves, an ING analyst has said.

Apr 3, 2019

By Nikhil Kumar

Brexit

Behind the China trade deal delay: Enforcement concerns, Trump's pride

Analysts tell International Business Times that U.S. President Donald Trump wants to avoid the embarrassment of another failure in high-stake talks.

Apr 2, 2019

By Pronita Naidu

Donald Trump

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