Economic News

  • Qatar to aid Turkey, lira rallies, U.S. rejects lifting tariffs

    ISTANBUL/WASHINGTON (Reuters) - The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.

  • Mexico sets sugar export quota to the United States

    MEXICO CITY (Reuters) - Mexico's government said on Wednesday it has set a sugar export quota to the United States of 750,876.9 tonnes for the cycle that runs from Oct. 1, 2018 to Sept. 30, 2019.

  • Mexico holds fresh NAFTA talks in Washington on Wednesday

    MEXICO CITY (Reuters) - Mexican officials are holding fresh talks over the renegotiation of the North American Free Trade Agreement (NAFTA) with U.S. officials in Washington on Wednesday, Mexico's government said in a statement.

  • Wall St. ends lower on escalating trade worries

    NEW YORK (Reuters) - U.S. stocks closed lower on Wednesday, with the S&P 500 posting its biggest daily percentage decline since June, as investors turned risk averse on a series of disappointing earnings and escalating global tariff worries.

  • U.S. retail sales, manufacturing data bolster third-quarter economic outlook

    WASHINGTON (Reuters) - U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.

  • U.S. targets Chinese and Russian firms with breach of North Korea sanctions

    WASHINGTON (Reuters) - The United States on Wednesday imposed sanctions on a Russian port service agency and Chinese firms for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions aimed at pressuring North Korea to end its nuclear programs.

  • Quebec offers C$863 million in aid to mitigate impact of U.S. tariffs

    MONTREAL (Reuters) - The Quebec government on Wednesday said it would invest C$863 million ($657.32 million) over five years to help mitigate the impact of U.S. tariffs on companies, including the Canadian province's agriculture sector.

  • Turkey tantrum? Investors fret over contagion from lira plunge

    LONDON (Reuters) - The plunge in Turkey's lira to a series of record lows over the past week sent tremors through global markets. While the currency has recovered a little lost ground since Tuesday, investors are fretting about contagion via stress on foreign banks and firesales of emerging market assets.

  • Dollar fades from 13-month high, offshore yuan slumps

    NEW YORK (Reuters) - The dollar ended little changed on Wednesday after reaching a 13-month peak against a basket of currencies as investors briefly added to their safe-haven holdings of the greenback on worries about slowing Chinese growth and Europe's exposure to Turkey.

  • Oil falls as U.S. crude inventories jump unexpectedly

    NEW YORK (Reuters) - Oil futures fell more than $2 a barrel on Wednesday after data showed U.S. crude stockpiles jumped last week, compounding worries about a weaker global economic growth outlook.

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