Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Investors shouldn't overreact to every trade retaliation development between the U.S. and China, according to Citi Research.
The firm said the tariff announcements aren't as hostile as they appear.
On the "trade war rhetoric [the] bark is louder than the bite," Eric Ollom, head of emerging markets corporate debt strategy, wrote in a note to clients entitled "Trade War or Trade Bore?" "We find the latest salvoes in US-China trade coming on the eve of an increasing probability of an agreement on NAFTA as the latest twist in a now familiar pattern of the Trump Administration regarding trade: speak harshly but carry a small stick."
The move followed China's announcement on Wednesday of tariffs on 106 U.S. products, including soybeans, cars, aerospace and defense. That move came a day after the Trump administration detailed its targets of Chinese imports to be subjected to tariffs.
Ollom noted China's aircraft tariffs are on a size of plane that the U.S. does not export to the Asian country. Some of the agricultural product tariffs such as on beef and pork also have low trade volumes and high inventories in China.
"The Xi Administration's response to the Trump Tariffs, while targeting industries (manufacturing, agriculture) that purportedly are Trump supporters, is also notable in that it really is less aggressive than it appears," he wrote, referring to Chinese President Xi Jinping.
The recent rise in trade tensions between China and U.S. came after Trump's tariff plan on aluminum and steel imports.