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 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 […]

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 […]

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% […]

The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in four years. First-quarter GDP expanded by 3.2% in the first quarter, the Bureau of Economic Analysis said in its initial read of the economy for that period. Economists polled by Dow […]

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 […]

The tragic Ethiopian Airlines crash on Sunday is raising doubts on Wall Street about Boeing. Boeing’s (BA) stock closed down 5% on Monday in the aftermath of the second deadly crash of its bestselling 737 MAX 8 jet in five months. All 157 people on board the Ethiopian Airlines flightwere killed when the plane fell […]

SINGAPORE (Reuters) – Asia’s crude oil imports from Iran dipped in January to the lowest in two months after top buyers China and India slowed down purchases and as Japan recorded zero imports for a third month, government and trade data showed. Asia’s top four buyers of Iranian crude – China, India, Japan and South […]

Japan logged its biggest trade deficit in nearly five years in January, as trade tensions and a global economic slowdown weighed on exports and threatened the country’s main engine of growth. The value of Japan’s January exports fell by a faster than-expected 8.4% from a year ago to 5.574 trillion yen, a two-year-low, according to […]

The chief financial officer of China’s global telecomms giant Huawei has been arrested in Canada and faces extradition to the United States, officials said Friday, triggering a strong protest by Beijing, which called for her immediate release. Meng Wanzhou’s detention comes after American authorities reportedly launched an investigation into suspected Iran sanctions by Huawei, which […]