Wednesday, 21 March 2018

Designed in California, made in China: how the iPhone skews U.S. trade deficit

Designed in California, made in China: how the iPhone skews U.S. trade deficit

SHANGHAI (Reuters) - U.S. President Donald Trump often tweets from his iPhone about pressuring China to address its $375 billion trade surplus with the United States. But a closer look at the Apple smartphone reveals how the headline figure is distorted.

Wall Street flat as oil offsets Facebook's drop; Fed move awaited

(Reuters) - U.S. stocks were little changed on Wednesday, ahead of an expected Federal Reserve interest rate hike, as weakness in Facebook's shares for a third day were countered by gains in energy stocks.

Academic behind Facebook breach says political influence was exaggerated

LONDON (Reuters) - The consultancy at the center of a storm over Facebook data greatly exaggerated its role in Donald Trump's 2016 U.S. presidential victory and would not have been able to sway an election result, the academic who provided the data said.

Dropbox raises IPO price range by $2 on strong demand

(Reuters) - Cloud storage firm Dropbox Inc [DBX.O] raised the price range for its initial public offering by $2 on Wednesday as investors bid strongly for the first big tech IPO this year ahead of final pricing expected on Thursday.

Bayer wins EU approval for $62.5 billion Monsanto buy

BRUSSELS (Reuters) - German conglomerate Bayer won EU antitrust approval on Wednesday for its $62.5 billion buy of U.S. peer Monsanto, the latest in a trio of mega mergers that will reshape the agrochemicals industry.

Powell's Fed likely to raise rates, may upgrade 2018 outlook

WASHINGTON (Reuters) - The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust U.S. economy.

EU proposes online turnover tax for big tech firms

BRUSSELS (Reuters) - The European Commission proposed rules on Wednesday to make digital companies pay their fair share of tax, with U.S. tech giants such as Google , Facebook and Amazon set to foot a large chunk of the bill.

Record U.S. oil offshore lease sale to test Trump energy push

(Reuters) - The U.S. Interior Department will hold the largest lease sale in American history in the offshore Gulf of Mexico on Wednesday, in a major test of the oil industry's appetite for federal acreage offered by the Trump administration.

Deutsche Bank sees $550 million first-quarter impact from strong euro, funding costs

FRANKFURT (Reuters) - A strong euro and higher funding costs would have a 450 million euro ($553 million) impact on Deutsche Bank in the first quarter of the year, the German lender's finance chief warned on Wednesday.

Deutsche Boerse could be fined for not updating market on CEO search

FRANKFURT (Reuters) - Germany's financial markets watchdog is investigating whether Deutsche Boerse should have provided more information to investors during its search for a new chief executive, with a ruling against the company potentially leading to a fine.

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