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Daily Investor Update: China vows fight against Trump's latest tariffs as stocks sink

Reuters.com Newsletter

China vows fight against Trump's latest tariffs as stocks sink

China on Friday vowed to fight back against U.S. President Donald Trump's abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.

Wall Street sinks to 1-month low on trade, growth fears

Wall Street extended its sell-off on Friday as renewed U.S.-China trade jitters and a slowdown in job growth put all three major U.S. stock indexes on pace for their worst week since December, when markets hit their trough amid recession fears.

China's new U.N. envoy says Beijing ready to fight U.S. on trade

China's new U.N. ambassador warned on Friday that if the United States wanted to fight China on trade "then we will fight," and signaled that trade tensions could hurt cooperation between the countries on dealing with North Korea.

Group of 12 U.S. states challenge Trump fuel economy penalty freeze

A group of 12 states led by California and New York on Friday challenged the Trump administration's decision to suspend a 2016 Obama administration regulation that more than doubled penalties for automakers that fail to meet fuel efficiency requirements.

Yen up, stocks slide on China's counter-threat to Trump

A measure of stocks across the globe was on track to post its largest weekly loss of the year on Friday while yields in U.S. and German debt were near multi-year lows, after China vowed to retaliate against a possible new round of U.S. tariffs.

Oil gains about 3%; records loss for week after Trump tariff threat

Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump's vow to impose more tariffs on Chinese imports.

U.S. to give tentative approval for expanded Delta, Air France, Virgin JV - source

U.S. Transportation Secretary Elaine Chao is set to grant tentative approval on Friday for an expanded transatlantic joint venture including Delta Air Lines Inc , Air France KLM SA and Virgin Atlantic, a source briefed on the matter said.

Exclusive - India's biggest carmaker Maruti Suzuki cuts temporary jobs as sales plunge

India's biggest automaker, Maruti Suzuki India Ltd , said it had cut the number of its temporary workers to cope with a slowdown in auto sales, adding to the jobless problem in Asia's third largest economy.

JPMorgan set for historic majority stake in China funds JV: sources

JPMorgan was on Friday poised to become the first foreign company to hold a majority stake in a Chinese mutual fund business, two sources said, setting a precedent that one analyst said would trigger a wave of similar transactions.

U.S. tariff threat may compound Apple's iPhone woes: BofA

Apple Inc could see a hit to its annual earnings from U.S. President Donald Trump's newly proposed 10% tariff on Chinese imports from Sept. 1, analysts from Bank of America Merrill Lynch said on Friday.

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