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Reuters Business News

U.S. banks push mortgage apps as home lending slows

By Elizabeth Dilts NEW YORK (Reuters) - (This version of the April 20 story corrects paragraph six to show 98 percent of first-quarter lending volume accessed Rocket Mortgage at some point in the process, not that 98 percent of volume came from Rocket...

Saturday, April 21, 2018 - 11:22pm

Europe not choosing sides in U.S.-China trade dispute

WASHINGTON (Reuters) - Europe will not choose sides in the trade dispute between the United States and China, a top European official said on Saturday, adding that the European Union's temporary exemptions from U.S. steel and aluminum tariffs should become permanent...

Saturday, April 21, 2018 - 9:28pm

U.S. Treasury chief may go to China as trade tensions simmer

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin may visit China, in a move that could help defuse rising trade tensions between the world's two largest economies that threaten to derail a global economic recovery. The United States has...

Saturday, April 21, 2018 - 3:25pm

Inflation will fall as soon as rates lowered, Turkey's Erdogan says

ISTANBUL (Reuters) - Inflation will fall in Turkey as soon as interest rates are lowered, President Tayyip Erdogan said on Saturday, ahead of a central bank meeting next week where economists expect the bank to raise rates. A self-described "enemy of...

Saturday, April 21, 2018 - 3:25pm

Japan tells G20 protectionism will disrupt markets: Aso

By Leika Kihara WASHINGTON (Reuters) - Japan has warned its G20 counterparts that protectionism and exchange of retaliatory measures will disrupt financial markets and heighten volatility. "I told my G20 counterparts that no country would...

Friday, April 20, 2018 - 12:42am

Trade tensions with U.S. testing resolve of Chinese consumers

By Thomas Peter and Thomas Suen BEIJING (Reuters) - Guo Qingshan delights in riding his 400,000 yuan ($63,839) Harley-Davidson <HOG.N> motorbike around Beijing's...

Friday, April 20, 2018 - 12:42am

Aso-Mnuchin talks to be based on focus on multilateral framework: Japan MOF

WASHINGTON (Reuters) - Talks between Japanese Finance Minister Taro Aso and U.S. Treasury Secretary Steve Mnuchin will be based on the view, shared among the international community, that global imbalances should be dealt with multilaterally, not bilaterally, a senior...

Friday, April 20, 2018 - 12:42am

Asia tech shares spooked by phone warning, oil near highs

By Wayne Cole SYDNEY (Reuters) - Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while high oil prices stirred inflation fears and undermined sovereign bonds...

Friday, April 20, 2018 - 12:42am

China Huarong confirms chairman departs after probe, shares tumble

By Adam Jourdan SHANGHAI (Reuters) - Shares in China Huarong Asset Management Co Ltd <2799.HK> fell more than 10 percent on Friday after the large state-owned bad debt manager confirmed its chairman Lai Xiaomin, who is under investigation for...

Friday, April 20, 2018 - 12:42am

Australia vows crackdown on corporate misconduct as bank inquiry claims AMP scalp

By Byron Kaye and Paulina Duran SYDNEY (Reuters) - An Australian inquiry into financial sector misconduct claimed its first scalp on Friday as the chief executive of the country's largest wealth manager stepped down over revelations of board-level...

Friday, April 20, 2018 - 12:42am

China envoy says China will retaliate if U.S. insists on trade war: Xinhua

BEIJING (Reuters) - China will retaliate if the United States insists on initiating a trade war, China's ambassador to the United States was quoted as saying by the state news agency Xinhua on Friday. Speaking at an event held by the Fairbank Center for...

Friday, April 20, 2018 - 12:42am

Pound on backfoot as doubts rise of BoE rate hike in May

By Hideyuki Sano TOKYO (Reuters) - The British pound flirted with two-week lows against the dollar on Friday following comments from the Bank of England chief and soft UK retail sales data, while the yen eased as risk sentiment was on the mend...

Friday, April 20, 2018 - 12:42am

Oil close to late-2014 highs on supply cuts, strong demand

By Henning Gloystein SINGAPORE (Reuters) - Oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts gradually draw down excess supplies. Brent crude oil futures <LCOc1> were at $73.87...

Friday, April 20, 2018 - 12:12am

U.S. Treasury weighs emergency powers to curb Chinese investments: official

By David Lawder and Koh Gui Qing WASHINGTON (Reuters) - The U.S. Treasury is considering ways to restrict sensitive Chinese investments in the United States by invoking an emergency powers law and bringing forward some security review reforms for corporate...

Thursday, April 19, 2018 - 11:33pm

Exclusive: U.S. sorghum armada U-turns at sea after China tariffs

By Karl Plume and P.J. Huffstutter CHICAGO (Reuters) - Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a...

Thursday, April 19, 2018 - 11:18pm

Tame inflation keeps pressure on Bank of Japan to maintain stimulus

By Tetsushi Kajimoto TOKYO (Reuters) - Japan's headline inflation slowed in March from February, highlighting the central bank's struggle to hit its 2 percent price growth target after five years of heavy stimulus, keeping it under pressure to maintain...

Thursday, April 19, 2018 - 11:06pm

Sino-U.S. trade-row impact on China's capital flows can be controlled: regulator

BEIJING (Reuters) - China's foreign exchange regulator said that any potential impact on the nation's cross border capital flows stemming from Sino-U.S. trade frictions can be controlled, and vowed to continue with plans to further open up capital markets in the world's...

Thursday, April 19, 2018 - 12:38am

China commerce ministry says ready to deal with any fallout from U.S. trade row

By Yawen Chen and Se Young Lee BEIJING (Reuters) - China is well prepared to handle any negative effects from its trade dispute with the United States, the commerce ministry said on Thursday, adding that China's tariff hikes on U.S. imports will not have a...

Thursday, April 19, 2018 - 12:38am

Resource stocks jump in Asia as oil extends rally

By Wayne Cole SYDNEY (Reuters) - Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-...

Thursday, April 19, 2018 - 12:38am

Oil near late-2014 highs as Saudi pushes for higher prices, U.S. crude stocks decline

By Henning Gloystein SINGAPORE (Reuters) - Oil prices on Thursday remained close to late 2014-highs reached in the previous session as U.S. crude inventories declined and as top exporter Saudi Arabia pushes for prices of $80 to $100 per barrel by continuing...

Thursday, April 19, 2018 - 12:38am