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China cancels US soybean purchases

Bloomberg The trade war may have just started, but China has already been making moves in the soybean world as US shipments originally destined for the nation have been cancelled or rerouted. China lowered commitments to buy 366,000 metric tons of US soybeans in the season that ends on August 31 and cut purchases by 66,000 tons in the following ...

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Weak phone demand catches up with Samsung

Bloomberg Even as most global smartphone makers felt the impact of slowing smartphone sales months ago, Samsung Electronics Co. managed to weather the downturn. Not any more. The maker of Galaxy phones reported that operating income rose to $13.2 billion in the three months ended June, short of the 15.3 trillion-won average of analysts’ estimates, according to preliminary results. Smartphone ...

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Japan floods kill 27, stall automakers

Bloomberg At least 27 people have died and thousands fled their homes because of flooding in western Japan, with Mazda Motor Corp. in Hiroshima halting production at the weekend. Local television showed overflowing rivers, submerged vehicles and homes crushed under landslides in what’s being described as “historic rainfall”. National broadcaster NHK reported 47 were missing. More than 48,000 police, rescuers ...

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