Google has suspended business activity involving the transfer of hardware, software and key technical services with Huawei. Analysts say that could be a big blow to the...Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Oil prices jumped on Monday after Saudi Energy Minister Khalid al-Falih indicated there was a consensus among OPEC and allied oil producers to continue limiting supply.Energyread more
Bank, property and healthcare stocks jumped, pushing Australian markets to a 11-year high, as Scott Morrison and the Liberal-led conservation government are poised for a...World Marketsread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Trade tensions between the U.S. and China stalled a global recovery and are continuing to endanger investment and growth, the secretary general of the OECD warned Monday.World Economyread more
Prime Minister Narendra Modi and his Bharatiya Janata Party are set to form the new government again, exit polls from India's month-long parliamentary elections show. But past...Electionsread more
The latest crisis in the uneasy French-German relationship was accelerated by Trump's decision to stop Germany's comfortable and decades-old free-riding on trade and security...Europe Politicsread more
While some fans of the long-running "Game of Thrones" felt satisfied by the show's final bow, others were quick to express their displeasure with how events unfolded.Entertainmentread more
May 15 (Reuters) - Macy's Inc said on Wednesday the recent hike in U.S. tariffs on Chinese goods will hurt its furniture business of the department store operator.
U.S. President Donald Trump escalated the trade war by raising tariffs on $200 billion worth of Chinese goods to 25% from 10% last Friday. This was in addition to the already imposed 25% tariff on $50 billion worth of Chinese imports.
Macy's Chief Executive Officer Jeff Gennette said the potential fourth tranche of tariffs that would be placed on all Chinese imports will impact both its private and national brands.
"This potential fourth tranche of tariffs was not contemplated when we provided the annual guidance," Gennette said on a post-earnings call.
Shares of the company, which rose about 2%, fell 1%. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)