A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Ireland has become the main regulator enforcing rules on how big tech companies collect and process user data under Europe's privacy law called GDPR.Technologyread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
May 31 (Reuters) - U.S. President Donald Trump, already at loggerheads with China over tariffs, has announced U.S. levies on all goods from Mexico unless it stopped people from illegally crossing into the United States, increasing fears that opening a new trade war front will threaten global and U.S. growth.
Here's a snapshot of latest developments on Friday:
* Mexico's President Andres Manuel Lopez Obrador urged Trump to back down from the threats and promised "great prudence" in seeking a resolution to the dispute. Mexican exports to the United States of goods from avocados to cars and televisions are vital to the Mexican economy. Mexico sends around 80% of its exports to the United States.
* Trump announced late on Thursday the U.S. will levy punitive tariffs of 5% on June 10 if Mexico does not halt the flow of illegal immigration from Central America to the United States. The tariffs will increase monthly, up to 25% on Oct. 1.
* Trump's shock warning battered Mexican financial assets, hurt stocks worldwide and boosted safe-haven sovereign bonds. Mexico's main stock index fell more than 2% after opening, and the peso currency was down 3% against the dollar.
* In a move likely to further heighten trade tensions, China threatened on Friday to unveil a hit-list of "unreliable" foreign firms, groups and individuals that harm the interests of Chinese companies, as retaliatory tariffs on imported U.S. goods were set to kick in at midnight.
* Already at odds over trade, Chinese and U.S. defense chiefs were expected to clash over China's growing global security role at a weekend Asia security summit. A U.S. military report on the Indo-Pacific region, to be released on Saturday, sharply criticizes Beijing's security policies, according to a draft seen by Reuters.
(Compiled by Susan Thomas; Editing by Howard Goller)