 | | | | U.S. stocks slumped on Thursday as investors dumped shares of technology companies as well as businesses in cyclical sectors on fears that the escalating trade war between United States and China would stymie global economic growth. | | | | | | World shares skidded further on Thursday and oil prices slid more than 5% as investors worried the China-U.S. trade spat was turning into a technology cold war between the world's two largest economies, boosting the dollar and sending benchmark government debt yields down. | | | | | | Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months. | | | | | | Codelco's giant Chuquicamata mine is set for a 40% drop in production over the next two years, an internal forecast seen by Reuters shows, pointing to the sharp challenge facing the world's top copper miner as it scrambles to maintain output. | | | | | | The United States and China had a heated exchange on Thursday, with U.S. Secretary of State Mike Pompeo accusing Chinese telecom giant Huawei Technologies of lying about its ties to the government and Beijing saying Washington must end its "wrong actions" if it wanted trade talks to continue. | | | | | | The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow. | | | | | | The newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually, researchers said on Thursday, as the Trump administration came under growing political pressure over its trade war with China. | | | | | | Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. | | | | | | Zara owner Inditex said it would split its dual role of chief executive and chairman, leaving Pablo Isla to lead the company and appointing Carlos Crespo as new CEO in a sign of the importance of digital strategy in driving sales growth. | | | | | | Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters. | | | | | |
