Wednesday, 7 March 2018

Trade skeptics gain upper hand in White House as Cohn quits

Trade skeptics gain upper hand in White House as Cohn quits

WASHINGTON (Reuters) - Economic nationalists appeared to gain the upper hand in a White House battle over trade with the resignation of Donald Trump's top economic adviser, Gary Cohn, on Tuesday in a move that could ramp up protectionist measures that risk igniting a global trade war.

White House opens door to tariff exclusions for some countries

WASHINGTON (Reuters) - The White House on Wednesday raised the possibility that U.S. tariffs on steel and aluminum imports could exclude a clutch of countries other than Canada and Mexico as pressure grew on U.S. President Donald Trump to impose targeted measures that would not harm America's allies.

Wall Street pares losses on prospect of tariff exemptions

NEW YORK (Reuters) - The S&P 500 ended slightly lower after Wednesday's volatile session as investors struggled to get a read on U.S. trade policy after President Donald Trump promised hefty import tariffs but then said Mexico and Canada could be exempt.

Exclusive: Goldman puts some London staff on notice for German move by June - sources

LONDON/FRANKFURT (Reuters) - Goldman Sachs has put more than a dozen UK-based banking, sales and trading staff on notice to move to Frankfurt within weeks, two sources with knowledge of the matter said, as it braces for divorce between Britain and the European Union.

Broadcom to stick with U.S. 5G investment after Qualcomm deal

(Reuters) - Broadcom Ltd sought again to soothe U.S. security concerns around its bid for chipmaker Qualcomm Inc on Wednesday, saying it would stick with investments aimed at maintaining the United States' leadership in 5G technology.

Snap to lay off about 100 engineers: CNBC

(Reuters) - Snapchat parent Snap Inc is laying off nearly 10 percent of its engineering team, or about 100 people, CNBC reported on Wednesday.

GM CEO wants Congress to expand tax credit for electric vehicles

WASHINGTON (Reuters) - General Motors Chief Executive Mary Barra called on the U.S. Congress on Wednesday to expand a consumer tax credit for electric vehicles as the automaker said it would boost production of its EV Chevrolet Bolt in response to strong demand.

U.S. senators call new hearing on Takata auto air bag inflators

WASHINGTON (Reuters) - U.S. Senators will convene a previously undisclosed hearing to focus on the status of Takata air bag inflator recalls, the largest, most complex recall process in auto history that some lawmakers say is too slow.

U.S. trade deficit races to more than nine-year high

WASHINGTON (Reuters) - The U.S. trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump's "America First" trade policies aimed at eradicating the deficit will likely fail.

Virgin Atlantic boss confident on post-Brexit flying rights

LONDON (Reuters) - Virgin Atlantic's chief executive said he was confident a deal would be done to secure Britain's flying rights after Brexit, as the airline launched an extra legroom economy seat to try to stand out from the crowd amid intense competition.

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