Business

Amazon abruptly dropped plans Thursday for a big new headquarters in New York that would have brought 25,000 jobs to the city, reversing course after politicians and activists objected to the nearly $3 billion in tax breaks promised to what is already one of the world’s richest, most powerful companies. “We are disappointed to have reached this conclusion — we love New York,” the online giant … [Read more...] about Amazon dumps NYC headquarters and its promised 25,000 jobs

A US Commerce Department report has concluded that American auto imports threaten national security, setting the stage for possible tariffs by the White House, two people familiar with the matter said Thursday. The investigation, ordered by President Donald Trump in May, is "positive" with respect to the central question of whether the imports "impair" US national security, said a European auto … [Read more...] about US report calls car imports national security threat: sources

Samsung Electronics is pouring resources into its telecom network equipment business, aiming to capitalise on the security fears hobbling China's Huawei, according to company officials and other industry executives. Those efforts include moving high-performing managers and numerous employees to the network division from its handset unit, two Samsung sources said. Potential customers are … [Read more...] about Seizing on Huawei’s troubles, Samsung bets big on network gear

Reports of progress in US-China trade negotiations drove a strong rally in European stocks on Friday, boosting mining, autos, and banking shares as investors hoped for a resolution to the tariff war between the world's two biggest economies. The trade-sensitive German index jumped as much as 2 percent while the STOXX 600 rallied 1.3 percent, accelerating gains after a tepid open following weak … [Read more...] about Trade talk progress sets Europe up for strongest week in three months

Brent crude oil briefly reached 2019 highs above $65 per barrel on Friday, as OPEC-led supply cuts and the announcement of a higher-than-expected cut by Saudi Arabia this week encouraged investors. The international benchmark for oil prices rose as high as $65.10, pushing past $65 for the first time this year. It fell back to $64.75 by 0850 GMT, up 18 cents or 0.28 percent from the last close. … [Read more...] about Brent oil briefly hits $65 as production cuts fuel 2019 high

An international court Wednesday ruled Iran can proceed with a bid to unfreeze assets in the United States, rejecting Washington's claims the case must be halted because of Tehran's alleged support for international terrorism. Washington had argued that Iran's "unclean hands" -- a reference to Tehran's suspected backing of terror groups -- should disqualify its lawsuit to recover $2 billion in … [Read more...] about US fails to halt Iran bid to free frozen billions