WASHINGTON (AP) — The United States has accused China of failing to meet its commitments to the World Trade Organization and says it is exploring new ways to combat aggressive Chinese trade practices. In its annual report on Chinese compliance with WTO rules, the Office of the U.S. Trade Representative said Wednesday that China isn’t…
By Elizabeth Howcroft LONDON (Reuters) -The U.S. dollar fell for a second day on Wednesday as investors became less worried about the risk of Russia invading Ukraine and awaited the release of minutes from the U.S. Federal Reserve’s January meeting. European equity markets were mixed, having rallied on Tuesday after Russia said it would withdraw…
(Reuters) – Canadian e-commerce giant Shopify Inc on Wednesday beat revenue estimates for the holiday quarter, with growth in its online business showing little sign of slowing as more people shop from the comfort of their homes. Revenue for the fourth quarter ended Dec. 31 was $1.38 billion, compared with $977.7 million a year earlier….
LONDON (AP) — Inflation in the United Kingdom has risen at the fastest rate in almost 30 years as increased costs for energy, housing and transportation squeezed household budgets. The consumer price index ticked up to 5.5% in the 12 months through January and was up from 5.4% the previous month, the Office for National…
HANOI (Reuters) – South Korean electronic components manufacturer Samsung Electro-Mechanics Co Ltd will invest $920 million in a production facility in northern Vietnam, the Southeast Asian country said on Wednesday. The investment will boost the company’s existing production in Thai Nguyen province of printed circuit boards and other phone components, and will raise the company’s…
BERLIN (Reuters) – German carmaker Volkswagen expects a continued hit from a shortage of semiconductors this year, although it should be able to ramp up production in the second half of the year, Chief Executive Herbert Diess said on Wednesday. “The supply situation is getting better, but even in 2022 we will not be able…
By David Lawder WASHINGTON (Reuters) – The United States needs to pursue new strategies and update its domestic trade tools to deal with China’s “state-led, non-market policies and practices”, the U.S. Trade Representative’s office said on Wednesday in a new assessment report. USTR said in its annual report on China’s compliance https://ustr.gov/sites/default/files/enforcement/WTO/2021%20USTR%20Report%20to%20Congress%20on%20China’s%20WTO%20Compliance.pdf with World Trade…
STOCKHOLM (Reuters) – Shares of Ericsson fell 7% on Wednesday after the Swedish telecom gear maker disclosed results of an internal investigation that detailed suspect payments and misconduct in Iraq. The company’s investigation had identified payments made to use alternate transport routes in connection with circumventing Iraqi Customs, at a time when militant organisations, including…
DUBAI (Reuters) – Abu Dhabi’s Etihad Airways on Wednesday signed a letter of intent to order seven Airbus A350 freighter aircraft, European planemaker Airbus said at the Singapore Airshow. The value of the potential deal was not disclosed. The state-owned airline had been considering the Airbus freighter and the competing 777X cargo jet developed by…
By Daniel Leussink TOKYO (Reuters) – Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base in an apparent de-escalation, delivering investors a measure of relief. The tension between world powers over the Ukraine situation, which has developed…
