The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday morning as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
China's soybean imports from the United States plunged to zero in November, marking the first time since the trade war between the world's two largest economies started that China, the world's largest soybean buyer, has imported no U.S. supplies.
Instead, China has leaned on Brazilian imports to replace the U.S. cargoes, customs data showed on Monday.
China brought in 5.07 million tonnes of soybeans from Brazil in November, up more than 80 percent from 2.76 million tonnes a year ago, data from the General Administration of Customs showed.
Meanwhile, U.S. imports plunged from 4.7 million metric tons in November 2017 and were down from 67,000 metric tons in October.
China, the world's top soybean buyer, usually gets most of its oilseed imports from the United States in last quarter of the year as the U.S. harvest comes to market. The U.S. was the second-largest supplier of soybeans to China and the trade was worth $12 billion in 2017.
But, purchases have plunged since Beijing placed an additional 25 percent tariff on U.S. imports on July 6, in response to tariffs enacted by the U.S. on Chinese goods. The country has stepped up its Brazilian purchases to fill the gap.
Beijing resumed buying U.S. cargoes earlier this month, after the two countries agreed on Dec. 1 to a truce in their trade war. But, the hefty tariffs on U.S. cargoes remain in place.
China crushes soybeans for animal feed ingredient soymeal for its massive livestock herds.
The country has managed to maintain high soybean inventories even as buyers shunned U.S. cargoes through the Brazilian shipments, and as African swine fever has decimated pig herds, sapping demand for animal feed.
However, Brazilian crops are now in the middle of their growing cycle meaning less is available for export.