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Trump linking Huawei with trade defies security claims

Bloomberg President Donald Trump says he may resolve a dispute over Huawei Technologies Co as part of a trade agreement with China, yet doing so would undercut US assertions the company poses a national security threat. Days after trade talks with Beijing hit an impasse, the US put the Shenzhen-based maker of telecommunications gear on a blacklist over concerns it ...

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Renault’s Senard says ‘serenity’ needed in Nissan alliance talks

Bloomberg Renault, Nissan Motor and Mitsubishi Motors should take time and discuss the future of their alliance with “serenity,” said Jean-Dominique Senard, chairman of the French car company in the three-way tie-up. “Every company in the world must reflect on its future and the best way to strengthen itself, and in the case of an alliance, how to optimise it,” ...

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Trade curbs on China are changing commodity flows

Bloomberg China’s latest trade figures provide a fresh look at how commodity flows to the world’s largest importer are changing amid restrictions affecting farm to energy products. While the April data, released on Saturday, preceded the recent escalation of the US-China trade war, shifts in shipment trends were already underway, given the rising tensions between the Asian nation and some ...

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Modi’s victory seen weighing on global sugar market

Bloomberg The sugar industry in India, which jostles with Brazil as the world’s top producer, is likely to continue to benefit from significant government support after a landslide victory for PM Narendra Modi. This scenario may weigh on raw sugar futures in New York, which are already near the lowest in about seven months. In his first five-year term, Modi’s ...

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Malaysia in talks with China firms on pipeline projects

Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co and Huanqiu Project Management Beijing Co on the total compensation to be paid by Suria Strategic Energy Resources Sdn, which was overseeing the projects, for the termination of the work, ...

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US proposes tariffs on nations with undervalued currencies

Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released, would let US-based companies seek anti-subsidy tariffs on products from countries found by the US Treasury Department to be engaging in ...

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Canada wholesale sales surge to one-year high

Bloomberg Sales by Canadian wholesalers in March rose by the most in more than a year, another sign the economy is emerging from a temporary slow patch. Wholesale sales rose 1.4 percent during the month, the fastest increase since October 2017 and the fourth straight monthly gain, Statistics Canada reported. Economists surveyed by Bloomberg were expecting a gain of 0.9 ...

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Bosch to pay $100m to settle German diesel-engine probe

Bloomberg Robert Bosch GmbH agreed to pay 90 million euros ($100 million) to end a probe by German prosecutors into rigged diesel engines, following much more costly settlements by its customer Volkswagen AG. Bosch is being fined for “negligent breach of supervision duties,” the prosecutor’s office in Stuttgart said in an emailed statement. The company supplied about 17 million engine-control ...

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German economy suffers another blow as business confidence drops

Bloomberg German business confidence fell to the weakest in more than four years as the escalation of global trade tensions weighed heavily on outlook. Along with a survey showing manufacturing still contracting and new orders falling, it’s a reminder of the shaky situation Europe’s largest economy is in. Its car industry is in upheaval and industrial giants such as Thyssenkrupp ...

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Sheikh Zayed an icon of tolerance, humanitarian giving: Sultan bin Zayed

ABU DHABI / WAM HH Sheikh Sultan bin Zayed Al Nahyan, the President’s Representative, said that the late Sheikh Zayed bin Sultan Al Nahyan was an exceptional leader and an icon of tolerance and humanitarian giving. In a statement marking Zayed Humanitarian Work Day, Sheikh Sultan bin Zayed said that the Founding Father established a tolerant country that gained global ...

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