China's tough trade rhetoric leaves talks with U.S. in limbo

WASHINGTON/BEIJING (Reuters) – China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world’s two largest economies would be meaningless unless Washington changed course. The tough talk capped a week that saw Beijing unveil fresh retaliatory tariffs, U.S. officials accuse China of backtracking on promises made during […]

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Trump delays EU, Japan auto tariffs for six months

Automobiles from the European Union and Japan won’t be hit with U.S. tariffs for at least six months after President Donald Trump decided Friday to delay levies in favor of pursuing negotiations. Trump has warned he would impose tariffs on autos and auto parts from those and other nations, but on Friday put such steps on hold. “If agreements are […]

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UPDATE 2-Eye on lira, Turkey abandons plan to tap central bank reserves

(Adds analyst comment, banking watchdog) By Orhan Coskun and Ebru Tuncay ANKARA/ISTANBUL, May 17 (Reuters) – Turkey took more unorthodox steps on Friday to protect its beleaguered lira, including scrapping a recently-hatched plan to tap the central bank’s legal reserves to boost its budget and urging banks to encourage clients to convert foreign holdings. The message to banks was delivered […]

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Sri Lanka stocks edge higher on local buying; rupee steady

COLOMBO, May 17 (Reuters) – Sri Lankan shares closed higher for a second straight session on Friday, moving further away from a near seven-year closing low hit earlier this week, as local investors bought beaten down stocks. ** Traders, however, said sectarian violence still weighed on investor sentiment. Most investors have shied away from the market since the April 21 […]

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Japan banks drive LBO boom

* Loans: Dry powder, cheap debt drive Japanese LBO loans to decade high By Wakako Sato TOKYO, May 17 (LPC) – International lenders are finding little joy in Japanese leveraged buyouts even as global private equity firms ramp up debt-funded acquisitions in the world’s third-biggest economy. Japanese LBO loans are running at a decade high, with more than US$10bn of […]

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Malaysia GDP Growth Slows In Q1

Malaysia’s economy expanded at a slower pace in the first quarter on weak investment and trade, data from the Department of Statistics showed Thursday, yet exceeded economists’ expectations. Elsewhere, the country’s central bank warned about downside risks to growth, mainly due to slowing global growth. Gross domestic product advanced 4.5 percent year-over-year in the first quarter, slower than the 4.7 […]

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U.S. Treasury to sell $98 bln in bills

NEW YORK, May 16 (Reuters) – For details of the U.S. Treasury’s auctions of 13-week, 26-week and 52-week bills next week, see: 13-week bills here 26-week bills here 52-week bills here (Washington economics newsroom) Source: Read Full Article

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Turkey's election board under pressure to explain Istanbul vote annulment

* Election board has yet to explain ruling to re-run vote * Opposition says decision weakened checks on presidential power * AKP says it provided concrete evidence of “organised crime” By Tuvan Gumrukcu and Orhan Coskun ANKARA, May 16 (Reuters) – Ten days after it annulled Turkey’s most dramatic election upset in years, the country’s electoral authority faces a barrage […]

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