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
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread 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
35%@ (Corrects headline to show closing stock change)
July 16 (Reuters) - Blue Apron Holdings Inc's beleaguered stock closed 35% higher on Tuesday after the meal-kit subscription service said it would add Beyond Meat Inc's plant-based burgers to its menu, betting on a growing market for premium meat alternatives to attract new customers.
Overwhelmed by rising competition and falling sales, Blue Apron's stock has collapsed since its Wall Street debut in 2017. After Tuesday's rally, it was still down more than 90% from the price in its initial public offering.
Blue Apron said its Signature Two-Serving Plan - a curated meal plan subscription - would include recipes using the Beyond Burger, a four-ounce patty with 20 grams of plant-based protein.
Beyond Meat shares closed 3.6% higher, and have increased over 580% since its public listing in May, making it 2019's most successful U.S. IPO by far. Its investors are betting the California company will become the dominant player in the nascent market for plant-based hamburgers, sausages and other meat alternatives, even though it has yet to turn a profit.
The company's burger patties and sausages are on sale in supermarkets at prices higher than equivalent meat products. Its foods are also sold through Carl's Jr, Del Taco and other restaurants.
"We know a growing number of customers are interested in plant-based proteins, whether as an alternative to meat, a desire to explore a new ingredient, or an opportunity to make more sustainable food choices," Blue Apron Chief Executive Linda Kozlowski said in a statement.
U.S. retail sales of plant-based foods grew 11% in the past year, bringing the total market value to $4.5 billion, according to new data from Good Food Institute and trade organization Plant Based Foods Association.
(Reporting by Tamara Mathias in Bengaluru and Noel Randewich in San Francisco; Editing by Richard Chang)