The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
(Recasts, adds detail, quotes)
GATWICK, England/PARIS, May 14 (Reuters) - French construction and transport concession group Vinci on Tuesday sealed a deal to take a majority stake in Britain's second biggest airport London Gatwick.
Vinci formally completed its 2.9 billion pounds ($3.8 billion) deal to buy a 50.01% stake in the airport, which was first announced last December
The company took advantage of a Brexit-related hit to UK asset prices to buy the stake in Gatwick, which is Britain's second-busiest airport after London Heathrow.
Sterling has fallen around 10% in the last 13 months, as British Prime Minister Theresa May has failed to pass her Brexit deal, delaying Britain's departure from the European Union until October 31.
But Vinci Airports President Nicolas Notebaert said he did not think that Brexit would change Gatwick's prospects, given strong demand from tourists to travel to London and the number of people who live in Gatwick's catchment area.
"We know there is a long list of (airlines) waiting to get slots, we know the passengers within London need to travel," Notebaert told Reuters, adding that a economic hit from a disorderly Brexit was unlikely to change that.
"Even if there is a slight effect, the constraint on the London capacity area in airports mean that we are very confident about the outcome for the traffic in London Gatwick."
The acquisition gives Vinci, which already runs 45 airports in 12 countries, access to the world's largest metropolitan aviation market. The company is now the second largest airport operator in the world, behind Spain's Aena but has overtaken French rival ADP.
France's plans to privatise ADP will be delayed, and possibly blocked, after the Constitutional Council last week approved plans for a referendum on the issue.
Vinci is a candidate to be involved in that privatisation. Asked about the delay, Notebaert said that Vinci had a duty to look at opportunities but was not focused on just one country or asset.
Notebaert said that competition reasons might prevent Vinci from investing in another London airport, but that the company could well invest elsewhere in Britain.
"We will look very carefully, and we don't see any (reason) why we couldn't look at the UK in the future."
($1 = 0.7718 pounds) (Reporting by Alistair Smout in Gatwick and Sudip Kar-Gupta in Paris, Editing by Sherry Jacob-Phillips and Jane Merriman)