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EU trade chief calls on U.S. to drop tariffs in Airbus-Boeing dispute: FT By Reuters

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© Reuters. FILE PHOTO: EU’s anti-fraud package presentation in Brussels

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(Reuters) – The European Union’s new trade chief has told the U.S. to withdraw tariffs on more than $7 billion of EU products or face additional duties on exports to Europe, as he urged a settlement to the dispute over Airbus SE (PA:) and Boeing Co (N:), the Financial Times reported on Sunday. 

Repairing the transatlantic relationship would be EU’s top priority, and the U.S. should withdraw its Airbus-related tariffs as a confidence-building measure, the EU’s new trade chief Valdis Dombrovskis told https://on.ft.com/2GEqmap the FT.

“Of course, if the US is not withdrawing their tariffs we have no choice but to then introduce our tariffs,” he was quoted as saying.

Washington was awarded the right by the World Trade Organization (WTO) last October, to impose tariffs on $7.5 billion of annual EU imports in its case against Airbus. Washington then imposed 25% duties on products ranging from single-malt whisky to olives and cheese and 10% tariffs on most European-made Airbus jets.

In mid-February, the U.S. government said it would increase tariffs on aircraft imported from the EU to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year dispute over aircraft subsidies.

The EU for its part, has been cleared by the WTO to impose tariffs on U.S. products worth $4 billion to retaliate against subsidies for American planemaker Boeing, sources told Reuters last month, with the award expected to be published within weeks.

Dombrovskis refused to speculate about the impact a Joe Biden presidency might have on the dispute, but told the FT that a more protectionist approach was something that came with the administration of Donald Trump.

“But in any case we will be engaging . . . and trying to bring the US administration back within the framework of multilateralism,” he added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Brazil’s BRF settles U.S. class action suit for $40 million: filing By Reuters

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© Reuters. Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba

SAO PAULO (Reuters) – Brazilian food processor BRF SA (SA:) said on Friday the company has settled for $40 million a U.S. class action suit against certain executives, according to a securities filing.

The settlement closes all pending claims that may be brought by persons or entities that acquired American Depositary Receipts of the company between April 4, 2013 and March 5, 2018, the filing said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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AstraZeneca says its Oxford vaccine deal allows it to add up to 20% of manufacturing costs By Reuters

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© Reuters. FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York

By Kanishka Singh

(Reuters) – AstraZeneca Plc (L:) said on Friday its coronavirus vaccine deal with Oxford University will allow it to add up to 20% of manufacturing costs to cover additional expenses required to be incurred by the British drugmaker.

“In addition to the manufacturing costs, the company is incurring costs in excess of $1 billion globally that include clinical development, regulatory, distribution, pharmacovigilance and other expenses”, an AstraZeneca spokesman said in a statement.

“To cover these additional expenses, the company will add an amount equivalent to a maximum of 20% of the manufacturing costs to ensure there is no material impact on its finances this year while continuing efforts to provide the vaccine at no profit during the pandemic,” the statement added.

AstraZeneca has previously signed multiple supply-and-manufacture deals for more than 3 billion doses globally.

These agreements are with companies and governments as the company gets closer to reporting early results of a late-stage clinical trial. Developed by the University of Oxford and licensed to AstraZeneca in April, the vaccine is expected to be one of the first from big pharma to secure regulatory approval.

The company had said earlier it has created multiple supply chains to ensure that access to its vaccine is timely, broad and equitable for high- and low-income countries alike.

Pricing and supply of experimental COVID-19 vaccines have been widely debated as richer countries pump billions of dollars into funding, and AstraZeneca has also been granted protection from future liability claims.

Separately, AstraZeneca resumed the U.S. trial of its experimental COVID-19 vaccine after approval by regulators, the company said on Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.10% By Investing.com

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© Reuters. U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.10%

Investing.com – U.S. stocks were mixed after the close on Friday, as gains in the , and sectors led shares higher while losses in the , and sectors led shares lower.

At the close in NYSE, the fell 0.10%, while the index gained 0.34%, and the index added 0.37%.

The best performers of the session on the were UnitedHealth Group Incorporated (NYSE:), which rose 1.50% or 4.87 points to trade at 330.60 at the close. Meanwhile, Walgreens Boots Alliance Inc (NASDAQ:) added 1.41% or 0.53 points to end at 38.04 and Verizon Communications Inc (NYSE:) was up 1.10% or 0.63 points to 57.96 in late trade.

The worst performers of the session were Intel Corporation (NASDAQ:), which fell 10.58% or 5.70 points to trade at 48.20 at the close. American Express Company (NYSE:) declined 3.64% or 3.81 points to end at 100.98 and Chevron Corp (NYSE:) was down 1.13% or 0.83 points to 72.57.

The top performers on the S&P 500 were Nordstrom Inc (NYSE:) which rose 5.60% to 14.33, SVB Financial Group (NASDAQ:) which was up 3.97% to settle at 296.38 and Flowserve Corporation (NYSE:) which gained 3.93% to close at 31.75.

The worst performers were Intel Corporation (NASDAQ:) which was down 10.58% to 48.20 in late trade, Robert Half International Inc (NYSE:) which lost 8.26% to settle at 51.67 and TechnipFMC PLC (NYSE:) which was down 5.69% to 6.47 at the close.

The top performers on the NASDAQ Composite were Socket Mobile Inc (NASDAQ:) which rose 74.66% to 2.550, Marin Software Inc (NASDAQ:) which was up 62.74% to settle at 3.450 and Youngevity International Inc (NASDAQ:) which gained 55.15% to close at 0.729.

The worst performers were BiondVax Pharmaceuticals Ltd ADR (NASDAQ:) which was down 86.27% to 5.20 in late trade, Iterum Therapeutics PLC (NASDAQ:) which lost 44.71% to settle at 0.53 and Limelight Networks Inc (NASDAQ:) which was down 31.98% to 4.20 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1878 to 1153 and 104 ended unchanged; on the Nasdaq Stock Exchange, 1726 rose and 1152 declined, while 95 ended unchanged.

Shares in SVB Financial Group (NASDAQ:) rose to 52-week highs; rising 3.97% or 11.32 to 296.38. Shares in Socket Mobile Inc (NASDAQ:) rose to 52-week highs; up 74.66% or 1.090 to 2.550. Shares in BiondVax Pharmaceuticals Ltd ADR (NASDAQ:) fell to 52-week lows; losing 86.27% or 32.68 to 5.20. Shares in Iterum Therapeutics PLC (NASDAQ:) fell to all time lows; losing 44.71% or 0.42 to 0.53.

The , which measures the implied volatility of S&P 500 options, was down 1.99% to 27.55.

Gold Futures for December delivery was down 0.03% or 0.60 to $1904.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 2.19% or 0.89 to hit $39.75 a barrel, while the December Brent oil contract fell 1.93% or 0.82 to trade at $41.64 a barrel.

EUR/USD was up 0.39% to 1.1862, while USD/JPY fell 0.10% to 104.72.

The US Dollar Index Futures was down 0.26% at 92.722.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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