International Trade

Austrian finance minister sees crisis of confidence in Greece

Reuters | March 27, 2015 | International Trade

Greece’s international partners have lost trust in Greece, Austrian Finance Minister Hans Joerg Schelling said on Friday, underscoring that Athens needs to stick to conditions of its current rescue and saying a fresh debt haircut would do no good. Read More »

Apple plans China iPhone trade-in program with Foxconn

Reuters | March 26, 2015 | International Trade

Apple Inc plans to introduce a trade-in program for iPhones in China in association with the Foxconn Technology Group, Bloomberg reported, citing people familiar with the effort. Read More »

Schlumberger pleads guilty to violating US sanctions on Iran, Sudan

Reuters | March 26, 2015 | International Trade

The U.S. Justice Department said that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine. Read More »

SuperGroup buys out US license

Reuters | March 26, 2015 | International Trade

SuperGroup, the British company behind the Superdry fashion brand, has gained the exclusive rights to distribute its products in the U.S., Canada and Mexico, terminating the existing U.S. license by paying 22.3 million pounds ($33 million). Read More »

US questions China at WTO on banking technology restrictions

Reuters | March 26, 2015 | International Trade

The United States is concerned about China's restrictions on the use of foreign information technology equipment by the banking sector, according to a filing published by the World Trade Organization. Read More »

Ford to triple exports from India with new $1 billion plant

Reuters | March 26, 2015 | International Trade

Ford Motor Co plans to triple exports from India with a $1 billion plant that will be one of its most heavily automated in Asia, offsetting slower sales inside the country with a push to sell more local production abroad. Read More »

EU antitrust regulators to investigate ecommerce

Reuters | March 26, 2015 | International Trade

European Union regulators plan a year-long investigation into ecommerce to help remove barriers to cross-border trade in the 28-nation bloc, the EU's antitrust chief said. Read More »

Leaked Pacific trade pact draft shows investment carve-outs sought

Reuters | March 26, 2015 | International Trade

Australia's medicine subsidies, Canadian films and culture plus capital controls in Chile would be carved out from investment protection rules being negotiated in a Pacific trade pact, according to a draft text released by Wikileaks. Read More »

Half of China’s total trade to be settled in yuan by 2020

Reuters | March 26, 2015 | International Trade

Cross-border trade settlement denominated in China's yuan currency is expected to climb to over 50 percent of China's total trade by 2020, more than doubling the current level, Stuart Gulliver, HSBC's Group Chief Executive, said. Read More »

Another US ally, South Korea, seeks to join China-backed AIIB

Reuters | March 26, 2015 | International Trade

South Korea said it has decided to seek to be a founding member of the Asian Infrastructure Investment Bank (AIIB), another key U.S. ally joining the China-led institution despite Washington's misgivings. Read More »

China set to topple Germany as top UK pork importer

Reuters | March 26, 2015 | International Trade

China's love for all things pork could soon make the country the top importer of British pork, dethroning Germany, just four years after it opened its doors to pork imports from the UK. Read More »

Adidas to shift some production from Asia in quest for speed

Reuters | March 26, 2015 | International Trade

Adidas plans to speed up production and allow shoppers to customize more shoes and clothes, aiming to accelerate sales and profit growth over the next five years. Read More »

Hainan Airlines to buy 30 Boeing 787-9 jets, worth $7.7 billion by list price

Reuters | March 26, 2015 | Air Cargo | International Trade

Hainan Airlines Co Ltd, China's fourth-largest carrier, said it plans to order 30 Boeing Co B787-9 jets as it seeks to expand international routes to tap into growing demand for overseas travel from China. Read More »

East African leaders woo investors for infrastructure plan

Reuters | March 26, 2015 | International Trade

The leaders of five East African countries went on a charm offensive on Thursday to lure investors for a massive plan to upgrade infrastructure in the region that has made big hydrocarbon discoveries. Read More »

U.S. military challenged maritime claims of 19 countries in 2014

Reuters | March 25, 2015 | International Trade

The U.S. military conducted freedom of navigation operations last year challenging maritime claims by 19 countries, from China to Argentina, asserting U.S. transit rights in defiance of efforts to impose restrictions, the Pentagon said on Wednesday. Read More »

Myanmar launches export strategy to connect smaller firms to global economy

Reuters | March 25, 2015 | International Trade

Myanmar launched an export strategy aimed at strengthening smaller companies, which is a departure from 49 years of military rule when a few large firms dominated the economy, said the International Trade Centre (ITC). Read More »

China steel firms turn overseas as domestic woes mount

Reuters | March 25, 2015 | International Trade

Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. Read More »

EU imposes anti-dumping duties on stainless steel from China and Taiwan

Reuters | March 25, 2015 | International Trade

The European Union will impose anti-dumping duties on imports of cold-rolled flat stainless steel from China and Taiwan, according to a notice in the EU's Official Journal. Read More »

Japan, NZ agree US fast-track bill vital for TPP talks

Reuters | March 25, 2015 | International Trade

Japan and New Zealand share the view that a fast-track trade bill in the United States is extremely important for the conclusion of a 12-nation Trans-Pacific Partnership (TPP) deal, the Japanese economy minister said. Read More »

Coke’s zero tolerance for land grabs proves difficult to fulfil

Reuters | March 25, 2015 | International Trade

The Coca-Cola Co has made a good start in axing land grabs from its supply chain, but it must work harder in proving that its bottlers and sugar suppliers do not violate land rights, development experts told the company. Read More »