Chinese officials have said they are “confident in implementing” trade commitments made to the US “as soon as possible”, without giving details. An ongoing trade war has seen both countries impose duties of billions of dollars on one another’s goods. Over the weekend, a temporary truce was agreed between US President Donald Trump and Chinese President […]

A proposed cut by China to tariffs on US car imports created confusion in Washington, a day after it was announced by US President Donald Trump. Beijing has not yet confirmed the move and President Trump’s advisers appeared less certain about the agreement. Uncertainty also surrounded the details of the broader trade war truce struck […]

Qatar has announced it is pulling out of the Opec oil producers’ cartel, just days before the group meets in Vienna. The Gulf state, which joined Opec in 1961, said it would leave the cartel in January and would focus on gas production. Qatar, the world’s biggest exporter of liquefied natural gas, has been boycotted […]

US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says. At a post-G20 summit meeting in Buenos Aires, Mr Trump agreed not to boost tariffs on $200bn (£157bn) of Chinese goods from 10% to 25% on 1 January. […]

US President Donald Trump and leaders from Canada and Mexico have signed the successor to the North American Free Trade Agreement (Nafta). The revised deal has been renamed as the United States-Mexico-Canada Agreement, or USMCA. Renegotiating Nafta was a key pledge of Mr Trump’s 2016 White House campaign. The US President claimed the update “changes […]

Bayer plans to sell brands including Dr Scholl’s foot care and Coppertone sunscreen in a cost-cutting drive that includes about 12,000 job cuts following its takeover of Monsanto. The cuts will account for about one in ten workers globally, with a “significant number” going in Germany. Bayer also plans to sell its animal health division, which […]

A no deal Brexit could send the pound plunging and trigger a worse recession than the financial crisis, the Bank of England has warned. It said the UK economy could shrink by 8% in the immediate aftermath if there was no transition period, while house prices could fall by almost a third. The Bank of […]

A court has ordered ticket reseller Viagogo to “overhaul” the way it does business. The Competition and Markets Authority launched legal action against the company in August over concerns it was breaking consumer protection law. The court said Viagogo must tell buyers which seat they will get and if there is a risk that they […]

TOKYO  – Mitsubishi Motors Corp said on Monday its board removed Carlos Ghosn from his role as chairman, following his arrest and ouster from alliance partner Nissan Motor Co last week for alleged financial misconduct. Ghosn’s ouster marks the end of his chairmanship of Japanese automakers, just two years after he was praised for bringing […]

Dolce & Gabbana products have been pulled from Chinese e-commerce sites as the backlash against a controversial ad campaign grows. The firm posted videos this week showing a Chinese model struggling to eat pasta and pizza with chopsticks. The campaign was accused of trivialising Chinese culture and promoting unflattering stereotypes. The controversy risks alienating Dolce […]