International Trade

Big Pharma pushes for US action against India over patent worries

Reuters | February 06, 2014 | International Trade

Global pharmaceutical firms are pressuring the United States to act against India to stop more local companies producing up to a dozen new varieties of cheap generic drugs still on-patent, sources with direct knowledge of the matter said. Read More »

US trade deficit widens in December as exports fall

Reuters | February 06, 2014 | International Trade

The U.S. trade deficit widened more than expected in December as exports fell, which could see the advance fourth-quarter growth estimate trimmed. Read More »

US trade bank launches operations in Myanmar

Reuters | February 06, 2014 | International Trade

The Export-Import Bank of the United States said it launched operations in Myanmar, a move to support U.S. exporters against competitors and help reintegrate the country into the world economy. Read More »

EU ready to lift duties on most US goods for trade pact

Reuters | February 06, 2014 | International Trade

The European Union will offer to lift tariffs on nearly all goods imported from the United States as part of negotiations towards the world's largest free-trade deal, people familiar with the proposal have told Reuters. Read More »

US jobless claims fall, weak exports push up trade deficit

Reuters | February 06, 2014 | International Trade

The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy. Read More »

Bangladesh garment factories intimidate workers over unions

Reuters | February 06, 2014 | International Trade

Bangladeshi garment factory owners use beatings, the threat of murder and sexual intimidation to stop workers from forming trade unions, a human rights group said. Read More »

Canada’s trade deficit biggest in a year in December

Reuters | February 06, 2014 | International Trade

Canada's trade deficit jumped to the highest level in a year in December, a government report showed, the latest in a series of disappointing economic figures that are expected to keep the Bank of Canada from raising interest rates this year. Read More »

US policy change on Cuba stalled - by Obama

Reuters | February 06, 2014 | International Trade

U.S. relations with Cuba are at their best in almost two decades, but President Barack Obama seems unwilling or unable to confront a well-organized anti-Cuba lobby and push for further progress. Read More »

China cancels US corn purchases as GMO dispute drags on

Reuters | February 06, 2014 | International Trade

Chinese importers canceled purchases of four cargoes of U.S. corn this week, after one cargo was diverted to Vietnam last week, U.S. government data showed, as a dispute over an unapproved genetically modified strain remained unresolved. Read More »

Google avoids fine with EU antitrust deal

Reuters | February 06, 2014 | International Trade

The agreement means the world's dominant search engine has avoided a process that could have lead to a fine of up to $5 billion, or 10 percent of its 2012 revenue. It must stick to the deal for the next five years. Read More »

Cummins posts higher profit but outlook disappoints

Reuters | February 06, 2014 | International Trade

Cummins Inc posted higher-than-expected quarterly profit as strong sales of engines and other vehicle components to truck and construction-equipment makers in North America, Europe and China, offset weakness in emerging markets, including India and Mexico. Read More »

Kia debuts its first electric vehicle for US market

Reuters | February 06, 2014 | International Trade

Kia Motors Corp rolled out an electric version of its Soul compact car that the Korean automaker plans to begin selling in some U.S. markets later this year. Read More »

Daimler sees profit rise as new models catch on

Reuters | February 06, 2014 | International Trade

Daimler forecast a significant increase in profit this year as strong sales of its new luxury Mercedes-Benz models, such as the S-Class limousine, help it shake off past earnings disappointments. Read More »

Estee Lauder forecasts weak profit as demand slows in Europe, China

Reuters | February 06, 2014 | International Trade

Beauty products company Estee Lauder Cos Inc forecast current-quarter profit below analysts' estimate, citing weak demand in European countries and South Korea and slowing growth in China Read More »

GM’s dismal profit may spur analysts to cut 2014 estimate

Reuters | February 06, 2014 | International Trade

General Motors Co reported a disappointing fourth-quarter profit, hurt by weaker-than-expected results in Asia and South America that may prompt analysts to ratchet down their profit forecasts for 2014 for the No. 1 U.S. automaker. Read More »

As quality control violations rise, USFDA chief heads to India

Reuters | February 06, 2014 | International Trade

The commissioner of the U.S. Food and Drug Administration, Dr. Margaret Hamburg, plans to visit India for the first time in an official capacity next week as the agency works to keep sub-standard food and drugs from entering the United States. Read More »

McDonald’s Japan 2013 profit halves as sales slide

Reuters | February 06, 2014 | International Trade

McDonald's Holdings Co (Japan) said its operating profit sank 53 percent in 2013 while it forecast sales this year would fall for a sixth consecutive year. Read More »

Ford to cut 300 jobs in Australia, spurs worries about earlier exit

Reuters | February 06, 2014 | International Trade

Ford Motor Co said it would cut production in Australia by one third with about 300 jobs to go in June, spurring worries the carmaker may exit the country sooner than its planned 2016 deadline. Read More »

Swiss trade surplus narrows sharply in December as imports jump

Reuters | February 06, 2014 | International Trade

Switzerland's trade surplus narrowed sharply in December to 503 million francs, its lowest level in four years, as a jump in imports outweighed higher exports, the Federal Customs Office said. Read More »

EU eyes “radical” steps against cheap Chinese imports

Reuters | February 06, 2014 | International Trade

The European Parliament pressed the EU's trade chief to build stronger defences against cheap imports from China, saying the European Union needed broad new powers to stand up to the world's second-largest economy. Read More »