Qualcomm suppressed competition in the market for cellphone chips and used its position to impose excessive licensing fees, a U.S. judged ruled.Technologyread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
China is considering cutting natural gas purchases from the U.S. in its tit-for-tat on trade, according to the South China Morning Post.Marketsread more
Treasury Secretary Steven Mnuchin is scheduled to testify before the House Financial Services Committee on Wednesday about the international financial system.Politicsread more
Target's e-commerce sales also surged 42%, as shoppers increasingly turned to its curbside pickup service for online orders, something Amazon can't offer.Retailread more
Stock markets are slowly healing from the worst of the month's trade war sell-off, and one under-the-surface indicator suggests the S&P 500 might completely recover before...Trading Nationread more
Treasury Secretary Steven Mnuchin said nothing is scheduled yet for the U.S. to go to Beijing for the next round of trade talks.Marketsread more
Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again.Real Estateread more
The U.S. Justice Department's Antitrust Division staff has recommended the agency sue to block T-Mobile US's $26 billion acquisition of smaller rival Sprint, according to two...Technologyread more
Lowe's shares plummeted 8% before the bell Wednesday after the company posted mixed fiscal first-quarter results and cut its forecast for the year, as higher costs weighed on...Retailread more
It may be years from visiting your neighborhood, but a walking robot is part of Ford's vision for how its autonomous vehicles will deliver packages.Autosread more
ROVANIEMI, Finland, May 7 (Reuters) - The United States has refused to sign an agreement on challenges in the Arctic due to discrepancies over climate change wording, diplomats said on Tuesday, jeopardising cooperation in the polar region at the sharp edge of global warming.
Temperatures in the Arctic are rising at twice the rate of the rest of the globe, and melting ice has opened vast untapped oil and gas reserves to potential commercial exploitation.
A meeting of nations bordering the Arctic in Rovaniemi in northern Finland on Tuesday was supposed to frame a two-year agenda to balance the challenges of climate change with sustainable development of mineral wealth.
But Finland's Foreign Minister Timo Soini said the joint declaration was "off the table" and would be replaced by a short statement from ministers attending the conference.
A diplomatic source with knowledge of the discussions said the United States balked at signing as it disagreed with wording in the declaration stating that climate change was a serious threat to the Arctic. A second source confirmed that.
It was the first time a declaration had been cancelled since the Arctic Council was formed in 1996. The U.S. delegation could not immediately be reached for a comment.
Addressing the Council, U.S. Secretary of State Mike Pompeo said President Donald Trump's administration "shares your deep commitment to environmental stewardship" in the Arctic. But he said collective goals were not always the answer.
"They are rendered meaningless and even counter-productive as soon as one nation fails to comply," he said.
The Arctic Council consists of the United States, Canada, Russia, Finland, Norway, Denmark, Sweden and Iceland.
Agreements between countries are non-binding.
President Trump has frequently expressed scepticism about whether global warming is a result of human activity and has stood by his 2017 decision to withdraw from the Paris climate accord signed by almost 200 governments in 2015. That has put him at odds with campaigners and many other countries.
"A climate crisis in the Arctic is not a future scenario, it is happening as we speak," Swedish Foreign Minister Margot Wallstrom said in her address to the Council.
The Paris accord agreed to limit a rise in average global temperatures to "well below" 2C (3.6F) above pre-industrial times by 2100. Worldwide, temperatures are up about 1C (1.8F). (Additional reporting by Anne Kauranen in Helsinki; Editing by Niklas Pollard and Andrew Cawthorne)