China on Friday warned of retaliation after U.S. President Donald Trump vowed to impose new tariffs on Chinese goods, sharply escalating a trade dispute between the world’s biggest economies. Jonah Green has more.
Donald Trump has appeared to take credit for having “convinced many countries”, including the UK, not to use Huawei after Boris Johnson ordered a ban on the Chinese firm being involved in the country’s 5G network.
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US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession.
The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession was over or drawing to an end. Fred Katayama reports.