Indices

EU heading towards 15% tariff deal with US, EU diplomats say

BRUSSELS -The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be...

Exclusive-In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say

NEW YORK -California government officials are trying to find a buyer for Valero Energy's Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the...

WTO reform prospects clouded by investment deal block, sources say

GENEVA -The World Trade Organisation suffered a setback at its General Council meeting in Geneva on Wednesday after a small group of countries again blocked an initiative designed to boost foreign...

Visa opens first Africa data centre in Johannesburg

JOHANNESBURG -Visa Inc launched its first data centre in Africa on Wednesday, capitalising on the emerging economy's rapid growth in digital payments, company executives said. Speaking...

US lawmakers advance bill that could sanction South Africa over its foreign policy

JOHANNESBURG -United States lawmakers have voted to advance a bill that proposes reviewing the U.S. relationship with South Africa due to objections over its foreign policy and potentially imposing...

Silver's hot streak gathers pace; market at highest since 2011

Silver prices surged to their highest in almost 14 years on Wednesday, aided by worries about U.S. tariff policy, signs of tightness in the spot market and growing investor interest in alternatives...

Space startup iRocket to go public via $400 million SPAC deal

Reusable rocket developer Innovative Rocket Technologies, commonly known as iRocket, will go public in the U.S. through a $400 million merger with special purpose acquisition company BPGC...

Dealmaking in US upstream oil and gas tumbles as volatility rattles investors

HOUSTON -Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers and acquisitions in the U.S. upstream oil and gas sector, analytics firm...

Milan Stock Exchange Extends Gains, Boosted by Banks and Automakers Amid M&A Activity and Hopes for US Tariff Relief

Piazza Affari extended its rally throughout the morning, outperforming buoyant European markets. Optimism was fueled by hopes of a US-EU trade agreement following the recent deal with Japan, which...

South Africa's small inflation rise leaves room for rate cuts, analysts say

JOHANNESBURG -South Africa's inflation rate edged higher in June, reaching the base of the central bank's target range, but analysts said there was still scope to ease monetary policy. ...

IBEX Edges Higher After US-Japan Trade Deal, Focus Shifts to Iberdrola

The Spanish stock index IBEX 35 posted a modest gain at Wednesday's open, buoyed by a trade agreement between the United States and Japan that lifted Asian markets, while investors in Spain...

Trump says Japan, US to form LNG joint venture

TOKYO -U.S. President Donald Trump said on Tuesday that Japan will form a joint venture to develop a liquefied natural gas project in Alaska though a Japanese government official said he was not...

Vodacom's first-quarter service revenue rises 11.4% on Egypt growth

JOHANNESBURG -South Africa's biggest mobile operator Vodacom Group reported a rise of 11.4% in first-quarter service revenue on Wednesday compared to the same period last year, supported by growth in...

Japan vows more US rice imports within tariff-free quota

TOKYO -Japan will import more rice from the United States but within the existing tariff-free quota, Prime Minister Shigeru Ishiba said on Wednesday, stressing Tokyo's success in protecting the...

Japan, US agree to keep current 50% tariff on steel, aluminium, NHK reports

TOKYO -Japan and the United States agreed to keep the current 50% tariff on steel and aluminium as part of the bilateral trade deal, Japanese public broadcaster NHK reported on Wednesday. ...

Oil prices steady with trade talks in focus

NEW YORK -Oil prices were little changed on Wednesday as investors assessed trade developments between the European Union and the U.S. after President Donald Trump reached a tariff deal with Japan. ...

Indonesia to cut tariffs, non-tariff barriers in US trade deal

WASHINGTON -Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian...

Hershey to raise chocolate prices as cocoa costs remain high

Hershey has told retailers it will be taking a double-digit price increase on average across its confection portfolio due to a surge in costs of cocoa, a company spokesperson said on Tuesday. ...

Platinum gives South Africa fiscal boost ahead of budget, says Old Mutual

JOHANNESBURG -A platinum price rally and increased mining royalties should ease the pressure on South Africa's fragile coalition government ahead of its October budget, Old Mutual Investment Group,...