China has a $1 trillion trade war weapon. Will it ever use it?

By Julia Horowitz, In the US-China trade war, it’s been a week of rapid escalation. Beijing devalued the yuan after the Trump administration threatened to slap tariffs on just about every Chinese export. The United States then labeled China a “currency manipulator,” deepening the rift. The exchanges have rocked global markets and threaten the global […]

Apple’s iPhones can all be made outside of China if needed

Apple Inc. has a backup plan if the U.S.-China trade war gets out of hand. The Cupertino, Calif.-based company’s primary manufacturing partner has enough capacity to make all iPhones bound for the U.S. outside of China if necessary, according to a senior executive at Hon Hai Precision Industry Co. The Taiwanese contract manufacturer that now makes […]

FedEx quits Amazon express delivery service in US

FedEx will no longer provide express delivery for Amazon packages in the U.S., as the e-commerce giant continues to expand its own in-house delivery network. FedEx announced on Friday that it decided not to renew its express U.S. shipping contract with Amazon. The company said in a statement that it was a “strategic decision” and […]

Chinese markets plunge more than 4% as US-China trade tensions escalate

Asia Pacific stocks tumbled in Monday morning trade following a re-escalation in U.S.-China trade tensions as President Donald Trump declared an impending increase in tariffs rates on $200 billion of Chinese goods. The mainland Chinese markets plunged in morning trade. The Shanghai composite and Shenzhen composite both dropped more than 4% each, while the Shenzhen […]

Unemployment rate in US falls to the lowest since 1969

The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday.Nonfarm payroll growth easily beat Wall Street expectations of 190,000 and a 3.8% jobless rate. Average hourly earnings growth held at 3.2% […]

4 board members at Tesla are going to leave, report

On Friday after market close, Tesla announced that 4 board members are going to leave at the end of their terms this year and in 2020. With the release of Tesla’s preliminary proxy statement for its upcoming shareholders meeting, the automaker made the announcement that board members Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda […]