U.S. emerges fastest growing crude oil producer
Businessam Staff
August 13, 2019
The U.S has emerged as the fastest growing crude oil producing region. This is according to the latest data published by Statista, an online statistics, market research and business intelligence portal. According to the research firm, crude oil production in the U.S. is rising and might set a new record in 2019. In April, daily […]
Interest rate cut expectations persists amidst strong U.S. retail sales
Businessam StaffJuly 16, 2019
U.S. retail sales increased more than expected in June, pointing to strong consumer spending, however this did not change market expectations that the Federal Reserve will cut interest rates this month. The report from the Commerce Department on Tuesday showed that consumer spending is on the rise and as such, could help to blunt some […]
Trump says ‘China is letting us down’ on buying from U.S. farmers
Businessam StaffJuly 11, 2019
U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers as the world’s two largest economies work to resolve a trade dispute. “Mexico is doing great at the Border, but China is letting us down in that they have not been […]
Trump orders investigation of French taxes on U.S tech companies
Afolabi OluwaseunJuly 11, 2019
U.S. President Donald Trump on has ordered an investigation into France’s planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions. Robert Lighthizer, U.S. Trade Representative (USTR) said in a statement that the United State is very concerned that the digital service taxes, which […]
Fed’s Powell says trade, global growth concerns continue to weigh on U.S. economy
Businessam StaffJuly 10, 2019
Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month. In prepared […]
Virgin Galactic to go public by year end
Afolabi OluwaseunJuly 9, 2019
Billionaire Richard Branson’s space-tourism venture, Virgin Galactic, plans to go public by the end of this year. This is part of a deal with a special purpose acquisition company (SPAC) created by venture-capital firms Social Capital and Hedosophia, the companies said on Tuesday. The SPAC, Social Capital Hedosophia Holdings Corp, will take a 49 […]
U.S. slaps anti-subsidy duties on fabricated structural steel from China, Mexico
Chris IkosaJuly 9, 2019
The U.S. has introduced preliminary anti-subsidy duties on fabricated structural steel from China and Mexico. The U.S. imported $658.3 million worth of fabricated structural steel from Canada in 2017, $841.7 million worth from China, and $406.6 million from Mexico.The U.S. Commerce Department made this known in a statement. The department said, “the Department of Commerce […]
Trump demands withdrawal of India’s ‘unacceptable’ tariff hike
Businessam StaffJune 27, 2019
U.S. President Donald Trump on Thursday demanded India withdraw retaliatory tariffs imposed by New Delhi this month, calling the duties “unacceptable” in a stern message that signals trade ties between the two countries are fast deteriorating. India slapped higher duties on 28 U.S. products after the United States withdrew tariff-free entry for certain Indian goods. […]
U.S. aims to restart China trade talks, will not accept conditions on tariff use
Businessam StaffJune 26, 2019
The United States hopes to re-launch trade talks with China after President Donald Trump and President Xi Jinping meet in Japan on Saturday, but Washington will not accept any conditions around the U.S. use of tariffs in the dispute, a senior administration official said on Tuesday. Trump has threatened to impose tariffs on another $325 […]
China hopeful of positive outcome as US, China revive talks
Businessam StaffJune 19, 2019
China, on Wednesday admitted that positive outcomes were possible in trade negotiations with the United States, after the presidents of the world’s two largest economies agreed to revive their troubled talks at a G20 meeting this month. U.S. President Donald Trump said on Tuesday he would meet Chinese President Xi Jinping at the G20 summit […]