Business News Beijing

  • BEIJING, May 24- China on Friday accused U.S. officials of lying to the public about their trade war, as rising tensions between the world's two largest economies kept financial markets in a state of unease. Talks to end the trade dispute collapsed earlier this month, with the two sides in a stalemate over U.S. demands that China change its policies to address a...

  • May 24- Cotton prices gained on Friday and were on track for their best week since mid-July, closely following an upbeat grains market which was at the mercy of extreme wet weather in parts of the United States. *Cotton contracts for July rose 0.90 cent, or 1.3%, at 68.38 cents per lb, as of 2:10 pm EDT. * "The cotton markets are rallying back in sympathy with the rest of the...

  • *Trump comments on China trade war lend support. CHICAGO, May 24- U.S. corn futures scaled to their highest in a year on Friday as soggy U.S. "There are forecasts for the central Midwestern corn belt getting rain for the next two weeks," said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage in Iowa.

  • *FTSE 100 up 0.7%, FTSE 250 up 0.5%. May 24- Britain's FTSE 100 held its gains on Friday after Prime Minister Theresa May announced her resignation date as head of her party in a widely expected move that nevertheless raises the prospect of a successor likely to seek a more hardline Brexit deal. The FTSE 100 added 0.7% and the midcap index rose 0.5%, slightly off its...

  • COLOMBO, May 24- Sri Lanka is in advanced talks with India and Japan to construct a container terminal at the port in Colombo, next to a Chinese terminal built as part of Beijing's Belt and Road Initiative, government officials said. The involvement of India and Japan is the latest sign that Sri Lanka wants to neutralize the growing influence of China, which has...

  • *Trump comments on China trade war lend support. President Donald Trump saying that a trade deal with China could happen quickly. The most-active corn contract on the Chicago Board of Trade was up 1% at $3.93-1/ 2 a bushel by 0946 GMT, trading near a one-year high of $3.99 struck earlier in the week.

  • BEIJING, May 24- China on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumors after he said the chief executive of China's Huawei Technologies Co Ltd was lying about his company's ties to the Beijing government. "Domestically in the United States there are more and more doubts about the trade war the U.S. side has provoked with China, the...

  • SHANGHAI, May 24- As China's yuan slips to historically weak levels against the dollar, the central bank's atypical light touch is spurring speculation that policymakers want to be more judicious in their intervention and have no specific target for the currency. But the People's Bank of China has done little to keep the yuan in check, beyond issuing...

  • Residential buildings stand at the Metro Town development, jointly developed by CK Asset Property Holdings Ltd., Nan Fung International Holding Ltd. and MTR Corp., in Hong Kong, China, on Thursday, Jan. 11, 2018.

    Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows report by JLL.

  • TOKYO, May 24- Japan's Nikkei share average dropped on Friday, as concerns about escalating tensions between Washington and Beijing over trade and technology firms sapped investor appetite while steep losses in oil prices hit trading houses. President Donald Trump said on Thursday U.S. complaints against Huawei Technologies Co Ltd might be resolved within...

  • SHANGHAI/ SINGAPORE, May 23- PetroChina is bucking normal practice and raising its wholesale natural gas prices during the weak-demand spring season, several sources said, preparing for the coming consolidation of China's pipeline assets and trying to recoup huge fuel import losses. The increases from PetroChina- which supplies more than 70 percent of...

  • NEW YORK, May 23- U.S. stocks slumped on Thursday as investors dumped shares of companies in growth and cyclical sectors, with energy and technology leading declines, on fears that the escalating U.S.- China trade war would stymie global economic growth. Further fueling trade fears among investors, Beijing said that Washington needs to correct its "wrong...

  • Secretary of State Mike Pompeo accusing Chinese telecom giant Huawei Technologies of lying about its ties to the government and Beijing saying Washington must end its "wrong actions" if it wanted trade talks to continue. Plunging oil prices took the currency of net crude exporter Colombia down 1.25% to its lowest since February 2016. Among shares, Mexico's IPC...

  • WASHINGTON, May 23- The Senate Armed Services Committee unveiled a draft bill on Thursday that targets China on several fronts, from stemming the erosion of the U.S. military advantage against Beijing to countering the growing Chinese influence around the world. The committee acknowledged that "our margin of military supremacy has eroded and is undermined by...

  • NEW YORK, May 23- U.S. stocks slumped on Thursday as investors dumped shares of technology companies as well as businesses in cyclical sectors on fears that the escalating trade war between United States and China would stymie global economic growth. Further fueling trade fears among investors, Beijing said that Washington needs to correct its "wrong actions"...

  • *U.S., China exchange barbs in escalating trade war. NEW YORK, May 23- U.S. Treasury yields dropped across the board on Thursday as risk appetite faded amid continued concerns about global growth and a worsening trade conflict between the United States and China.

  • NEW YORK/ WASHINGTON, May 23- The newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually, researchers said on Thursday, as the Trump administration came under growing political pressure over its trade war with China. A U.S. lawmaker from Iowa, one of the states considered especially vulnerable to the U.S.- China...

  • WASHINGTON, May 23- The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10- month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow. President Donald Trump to his 2016 electoral win, have been among the hardest hit from a trade dispute with...

  • Thomas Peterffy, chief executive officer of Interactive Brokers.

    "That does not mean you have to sell your long positions," says billionaire Thomas Peterffy, suggesting investors hedge their stock holdings.

  • *Chipmakers, tech stocks fall as trade tensions rise. May 23- U.S. stock indexes fell more than 1% on Thursday, as investors sold off technology, industrials and energy stocks on fears that a spiraling trade war between the United States and China would crimp global growth. Technology, among sectors most exposed to China, was the hardest hit.