The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
BRUSSELS, Aug 22 (Reuters) - The European Union hopes to ease trade tensions with U.S. President Donald Trump when the leaders of the world's seven major advanced economies meet in France over the weekend, a senior EU official said on Thursday.
Transatlantic rifts are set to feature prominently when Trump arrives at the G7 summit in France to discuss differences over trade, Iran and climate change.
The EU said last month it would retaliate with extra duties on 35 billion euros' worth of U.S. goods if Washington imposes punitive tariffs on EU cars.
The Sino-U.S. trade war has also spurred fears of a broader global economic slump.
"We see trade tensions as the single most important risk factor to the growth of the global economy," the senior EU official said. The bloc would be seeking to defuse them and to concentrate on a "positive" EU-U.S. trade agenda.
Since the EU's chief executive, Jean-Claude Juncker travelled to Washington for trade talks with Trump a year ago, the bloc's imports of U.S. liquefied natural gas have tripled, while those of soybeans have doubled, according to the official.
"We can continue on that pathway where we also have an opportunity for both the U.S. and the EU to reach a deal on the elimination of industrial tariffs," the official said. If such an agreement is reached, the EU estimates that each side will generate an additional 26 billion dollars or euros in exports.
The EU would also prefer to resolve a dispute between aircraft manufacturers Boeing and Airbus without resorting to tariffs, the official said.
Separately, a Trump administration official told Reuters that Washington could agree a trade declaration in the French resort town of Biarritz with new British prime minister Boris Johnson, who will also be there and is making overtures to the U.S. president as Brexit looms.
"It wouldn't be an agreement on any trade issues. But it would be a statement about how to proceed, what the roadmap might be, what they were looking for from the trade negotiators and economic ministers," the senior White House official said.
Speaking on condition of anonymity, the official said that any such statement would signal determination on the part of the United States to support Britain through the Brexit process.
While Brexit marks an unprecedented rollback of European integration and has been a shock to the EU, Trump has praised it as an opportunity and offered warm words on Johnson himself, highlighting another fundamental disagreement straining the partnership between Washington and Europe. (Reporting by Gabriela Baczynska in Brussels and Jeff Mason in Washington; editing by James Drummond)