International Trade

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 »

Solid Australia retail sales, export boom back steady rates outlook

Reuters | February 06, 2014 | International Trade

Australian retail sales topped forecasts for a fifth straight month in December adding to evidence that consumer spending is reviving in time to help cushion the economy from a cooling mining boom. The data from the Australian Bureau of Statistics also showed the country boasted its biggest trade surplus in two years in December as exports rose beyond all expectations. Read More »

Mediterranean nations urge coordination on food security

Reuters | February 06, 2014 | International Trade

European and North African countries on Thursday called for greater coordination to head off future food crises, mainly in grains supplies, across the Mediterranean region. Read More »

China cancels U.S. 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 on Thursday, as a dispute over an unapproved genetically modified strain remained unresolved. Read More »

Growing concern with China’s behavior at sea

Reuters | February 05, 2014 | International Trade

The United States has growing concerns that China’s maritime claims in the disputed South China Sea are an effort to gain creeping control of oceans in the Asia-Pacific region, a senior U.S. official said on Wednesday. Read More »

Chris Jones to head Baltic Exchange’s Singapore office

AJOT | February 05, 2014 | International Trade

The Baltic Exchange has appointed Chris Jones as its new Asia-Pacific director. Read More »

RPT-Australia Hedland iron ore exports to China down 3.5 pct in Jan

Reuters | February 04, 2014 | International Trade

Iron ore exports to China from Australia’s Port Hedland, which ships about a fifth of the global market for the steel-making raw material, fell 3.5 percent in January from December. Read More »

Kerry downplays key US senator’s opposition on trade talks

Reuters | February 04, 2014 | International Trade

Secretary of State John Kerry said Senate Majority Leader Harry Reid's opposition to President Barack Obama's push for authority to fast-track trade deals should not stand in the way of U.S. congressional passage of the measure. Read More »

Google executive chairman expects US approval of Lenovo-Motorola deal

Reuters | February 04, 2014 | International Trade

Google Inc Executive Chairman Eric Schmidt expressed confidence on Monday that Lenovo Inc would gain approval from U.S. regulators to buy Google's Motorola smart-phone hardware business in what would be China's biggest technology acquisition to date. Read More »

KFC parent Yum says no bird flu hit to China sales

Reuters | February 04, 2014 | International Trade

KFC parent Yum Brands Inc. reaffirmed its 2014 profit and said a resurgent bird flu in China had not hurt national sales in its top market. Read More »