LONDON (AFP) -- Stock markets largely headed south once more Tuesday with traders on edge after US President Donald Trump warned he would ramp up his trade war with China should he fail to reach a deal with Chinese leader Xi Jinping at upcoming talks. Xi Jinping and Donald Trump (AP)The pound meanwhile suffered after Trump warned Prime Minister Theresa May's EU divorce agreement could hamper the chances of a trade deal between  Washington and London.Oil prices steadied after recent extreme volat

WASHINGTON (Reuters) - US President Donald Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent and repeated his threat to slap tariffs on all remaining imports from China.In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was “highly unlikely” he would accept China’s request to hold off on the increase, whi

DETROIT (AP) — General Motors will cut up to 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles, the automaker announced Monday.The reductions could amount to as much as 8 percent of GM’s global workforce of 180,000 employees.The restructuring reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In Oct

The fate of Nissan's disgraced Carlos Ghosn as chairman of the Japanese car giant is set to be decided Thursday when board members meet to vote on his dismissal, days after the tycoon's arrest for financial misconduct.The fallen superstar executive credited with turning around the Nissan-Renault-Mitsubishi Motors alliance is in detention over allegations he under-reported his pay by millions of dollars.His arrest on Monday has sent shockwaves through the global car sector, corporate Japan and be

PARIS (AP) — Carlos Ghosn will remain chairman and CEO of Renault despite being detained in Japan on allegations he misused assets of partner Nissan Motor Co. and under-reported millions of dollars in income.The French carmaker’s board of directors announced its decision after an emergency meeting in Paris on Tuesday.The board, however, said it was appointing the automaker’s No. 2 executive, Chief Operating Officer Thierry Bollore, to temporarily fill in for Ghosn. (AP)“Mr. Ghosn, temporarily in

　The Asian Development Bank projected that India would see the highest gross domestic product growth rate in Asia in 2018 at 7.3 percent, though this is lower than the nation's growth rate of 6.7 percent in 2017. 　Vietnam and Bhutan are forecast to see the second-highest GDP growth rate in Asia at 7.1 percent. The former's growing workforce has been instrumental to its growth, boosted by export expansion, rising domestic consumption, strong investments, and a strengthening agriculture sector. Bh

NEW YORK (AFP) -- US lingerie giant Victoria’s Secret announced Monday that it had appointed fashion executive John Mehas as new lingerie CEO, hoping to boost its ailing fortunes.Mehas will take over in the New Year, replacing Jan Singer, who resigned with the brand under fire for slumping sales, idealized glamazonian femininity and reluctance to put larger and transgender models on the catwalk.His appointment was announced as Victoria’s Secret parent company L Brands reported third-quarter resu

WASHINGTON (AFP) -- Apple CEO Tim Cook predicts that new regulations of tech companies and social networks to protect personal data are "inevitable."In an interview with news website Axios being broadcast Sunday on HBO television, Cook said he expected the US Congress would take up the matter."Generally speaking, I am not a big fan of regulation," Cook said in an excerpt released by Axios. "I'm a big believer in the free market. But we have to admit when the free market is not working. And it ha

Nissan chairman Carlos Ghosn faces being fired this week after being arrested in Japan over allegations of financial misconduct, the firm said Monday, in a stunning fall from grace for one of the world's best-known businessmen.Ghosn's arrest and his likely dismissal from Nissan, as well as possibly from Mitsubishi and Renault, sent shockwaves through the auto industry, where he is a towering figure, credited with turning around several major manufacturers.Besides being chairman of Nissan, the 64

As the winners of the biggest corporate prize in decades -- the new Amazon headquarters -- relished their victory, debate was still raging over the billions of dollars in incentives offered to attract the fast-growing US technology colossus.The new Amazon "HQ2" with an estimated $5 billion investment creating 50,000 new jobs will be split between the Long Island City district in New York and Crystal City, a Virginia community across the Potomac River from the US capital Washington.Officials in b

ROME (AFP) -- Italy's populist government defied the European Commission Tuesday by sticking to its big-spending budget plan, risking financial sanctions in a high-stakes standoff with Brussels.Despite pressure from the European Commission, which rejected Rome’s budget outright last month in a first for the EU, Italian Deputy Prime Minister Luigi Di Maio vowed to stand firm on the country's anti-austerity plans.“The budget will not change, neither in its balance sheet nor in its growth forecast.

The US and China have resumed contact “at all levels” over trade ahead of a planned meeting between President Donald Trump and China’s Xi Jinping, White House economic adviser Larry Kudlow said.There’s no certainty that China will cede to US demands in trade negotiations, but “it’s better to talk than to not talk,” Kudlow said in an interview on CNBC Tuesday. A top Chinese negotiator, Liu He, will probably visit Washington shortly to advance “some informal talks,” Commerce Secretary Wilbur Ross

Amazon's "second headquarters" is being split between New York City and the Washington suburbs, the US tech giant announced Tuesday, capping a yearlong contest that saw dozens of cities fight it out for a promised $5 billion investment and 50,000 expected jobs.The chosen locations are Long Island City neighborhood in the New York borough of Queens, across the East River from Manhattan, and the Crystal City section of Arlington, Virginia, across the Potomac from the US capital.Both districts offe

President Donald Trump took aim at Saudi Arabia’s plan to cut oil production on Monday, injecting new tension into an already fraught alliance that has been clouded by US concerns over the killing of journalist Jamal Khashoggi and the ongoing conflict in Yemen.Trump’s efforts to influence oil production threatens to further strain relations between the two historic allies, even as his administration continues to describe the Saudis as a crucial partner in a shared bid to counter Iranian influenc

BERLIN - Germany has earmarked 1 billion euros ($1.2 billion) to support a consortium looking to produce electric car battery cells and plans to fund a research facility to develop next-generation solid-state batteries, three sources told Reuters.The measures, expected to be announced next week, are designed to reduce the dependence of German carmakers on Asianelectric vehicle (EV) battery suppliers and protect German jobs at risk from the shift away from combustion engines.Berlin's push to shap