Microsoft confirms talks seeking to buy U.S. arm of TikTok
Microsoft confirmed Sunday it has discussed with President Donald Trump his concerns about security and censorship surrounding such an acquisition.
International Business
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Trade, technology, security at risk in rising U.S.-China feud
If talks on ending the dispute fail, the world could face downward pressure on trade at a time when the global economy is already reeling from the pandemic.
Trump administration rescinds pandemic rule on foreign students
Facing eight federal lawsuits and opposition from hundreds of universities, the administration called off a rule that would have required international students to transfer or leave the country if their schools held classes entirely online because of the pandemic.
More than 200 schools back lawsuit over foreign student rule
The lawsuit challenges a recently announced directive saying international students cannot stay in the United States if they take all their classes online this fall.
China deal ‘fully intact,’ Trump says after adviser roils markets
U.S. futures swung wildly as the remarks caused concern that the deal signed in January, which paused the trade war between world’s two largest economies, was in jeopardy.
Trump orders limits on foreign workers, extends immigration restrictions
The freeze announced Monday will apply to the H1-B visa category for highly skilled workers, the H4 visa for their spouses and the L visas companies use to transfer international employees into the United States.
Trump: U.S. to cut World Health Organization ties, revoke Hong Kong status
The U.S. will no longer treat Hong Kong and China as separate entities for the purposes of extradition, customs, trade and visa issues, President Trump said Friday. He also attacked the World Health Organization, which he said was effectively controlled by Beijing.
Trump: Virus shows supply chains should be moved from China
President Donald Trump says the coronavirus pandemic highlights the importance of U.S. manufacturing and moving supply chains out of China, as he blamed that country anew for not doing enough to slow the pandemic.
Attorneys general in Indiana, 13 other states: Let’s hold China accountable
The letter is part of a growing call among state elected officials pointing blame at China for economic loss and deaths caused by the coronavirus.
Stocks, oil prices plunge as virus closes sites around world
The world’s largest economies delivered more worrisome cues Monday as anxiety over the virus outbreak sent stock and oil prices plunging and closed sites from the Sistine Chapel to Saudi Arabian schools.
Oil plunges 25% as another virus-fueled trading week begins
Oil prices are plunging amid worries that an OPEC dispute will lead an economy weakened by COVID-19 to be awash in an oversupply of crude.
Vietnam buying $3 billion in U.S. farm goods to ease Trump tariff threats
The agricultural shopping spree is part of a campaign to address complaints about the trade surplus and difficulties U.S. companies face in accessing Vietnamese markets.
Virus hammers business travel as wary companies nix trips
The cancellations and travel restrictions are a major blow to business travel, which makes up around 26% of the total travel spending. The Global Business Travel Association estimates the virus is costing the business travel industry $47 billion per month.
Global markets fall sharply as virus cases spread past Asia
The Dow Jones industrial average slumped more than 3% and gave up all of its gains for the year as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
Trump signals he’s prepared to give farmers more federal aid
China’s economy is being rocked by the new virus that has infected more than 75,000 people and forced many businesses and factories to temporarily close.
China suspends more penalties on U.S. goods after trade truce
Goods affected by the latest reduction include industrial components and medical and factory equipment.
Automakers in China gradually reopen after virus shutdown
Local officials have orders from the ruling Communist Party to get businesses functioning again while still enforcing anti-disease curbs that have shut down much of the world’s second-largest economy.
China cuts tariffs on $75B of U.S. imports in trade truce
The cuts follow last month’s signing of a “Phase 1” agreement toward ending a long-running tariff war over Beijing’s technology ambitions and trade surplus.
Stocks rise to records despite fears over virus from China
Health experts don’t know how far the virus will spread and how bad the crisis will get, yet stocks are rallying as if investors are expecting no more than a modest hit to the global economy.
U.S. trade deficit sees first annual decline in six years
The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year, to $616.8 billion.