American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Samsung Electronics on Thursday reported its worst quarterly profit in two years and was downbeat about its second-half prospects, fueling concerns about its ability to protect its smartphone turf in the face of mounting competition.
With its flagship Galaxy S5 smartphone outsold by Apple's iPhone 5S in May and its cheaper devices feeling the squeeze from Chinese rivals like Xiaomi, Samsung is under pressure to come up with a new strategy to halt the slide.
For April-June, Samsung said operating profit fell 24.6 percent annually to 7.2 trillion won ($7.03 billion), matching its guidance. This marked the third straight quarter of profit decline and was the weakest result since the second quarter of 2012.
Profit for the mobile division fell to 4.42 trillion won from 6.28 trillion won a year ago, also the lowest in two years.
"Looking ahead, the second half of 2014 will remain a challenge," Samsung said in a statement, adding that profitability for the mobile division may suffer due to intensifying global competition.
Samsung's mobile division executives returned a quarter of their first-half bonuses and have downgraded to economy seats for shorter flights, evidence the South Korean tech giant is tightening its belt as it tries to regroup.
Researcher IDC said on Wednesday that Samsung's second-quarter global smartphone market share slipped to 25.2 percent from 32.3 percent a year ago, underscoring its troubles.
While the company guides for a pickup in sales for its mobile business, analysts say it needs to go back to the drawing board and revamp its product lineup to ensure it can make a sustained recovery.
Some analysts say Samsung should introduce curved displays or metal casings rather than much-criticized plastic for its premium products. Some even suggest a whole new brand to separate its high-end products from cheaper devices.
Samsung finds itself facing the first annual profit decline in three years just as Apple prepares to launch larger-sized iPhones in the fall, taking away a key differentiator for Samsung's high-end devices.
The weak second-quarter results will put the spotlight on the next Galaxy Note handset, expected to be launched in September.
"They'll have to make sure that the Note 4 isn't a flop," Counterpoint analyst Tom Kang said before Samsung's earnings disclosure.
Samsung's chips business reported a profit of 1.86 trillion won, in line with firm results for rival SK Hynix, as tight supply for DRAM memory chips for personal computers and servers boosted the bottom line.
The flat-screen panels business ran a 220 billion won profit during the April-June period, compared with a 1.12 trillion won profit a year earlier.
Samsung said it planned 24 trillion won worth of capital expenditures this year, in line with 2013, with 14.4 trillion won worth of that for its chips business. The company also plans to pay an interim dividend of 500 won per share, the same as last year.