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
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
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
"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
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
* New CEO working on strategy outline later this year
* Will sell giant diamond later this year
* Talking to South African banks on debt
* No time-scale on talks on seized Tanzanian diamonds
LONDON, April 15 (Reuters) - African miner Petra Diamonds' , which has high debt levels, aims to be cash flow positive in the second half of the year and will then be able to consider future developments, its new chief executive said on Monday.
The company's share price has fallen 55 percent since the start of the year as weak diamond prices weighed and Petra grapples with debt following years of capital expenditure to upgrade its mines.
On Monday the company reported lower output in the quarter ended on March 31, as an upgrade of operations at one of its mines fell behind schedule, but also said it sees signs that diamond prices are recovering.
CEO Richard Duffy, who took office at the start of the month, said his short-term focus was "on stabilising the operations as we transition from a stage of high capital investment".
The company would be on track to consider future developments, he said, once it has delivered free cash flow and cut net debt, which was about 3.3. times EBITDA (earnings before interest, tax, depreciation and amortisation) at the end of last year versus a goal of 2 times.
"I'm two weeks into the job," Duffy said in a maiden round of media interviews, when asked about strategy. "We expect to announce strategy towards the end of the calendar year."
On Monday, Petra's share price was 0.2 percent lower by 1013 GMT.
A new section at Petra's flagship Cullinan mine in South Africa has the potential to be rich in high-quality stones, the company says. In March it said it had found a 425-carat diamond, which it plans to sell later this year.
Edward Sterck, analyst at BMO Capital Markets, which rates Petra "outperform", said a pickup in special diamond recoveries was "the significant catalyst that investors have been waiting for".
The company meanwhile is in talks with its South African lenders on new terms, which it expects to finalise by the end of the month.
It is also negotiating with the Tanzanian authorities over a parcel of diamonds seized in September 2017, in a crackdown on foreign mining companies as the government seeks more revenue from its minerals.
Petra's Williamson mine in Tanzania delivered a 21 percent increase in year-on-year output, helping to offset the impact of delay in an upgrade at South African mine Finsch.
"We're continuing to engage with the authorities. It's difficult to talk about time, but we are having constructive conversations," Duffy said. (Reporting by Barbara Lewis; additional reporting by Samantha Machado in Bengaluru; Editing by Susan Fenton)