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Turkey's purchase of Russian S-400s does not change strategic orientation: minister

Fri, 07/12/2019 - 3:55pm
Turkey's purchase of Russian S-400 missile systems does not mean a change of the country's strategic orientation, Turkish Defence Minister Hulusi Akar told his U.S. counterpart by phone on Friday, adding that the acquisition was a necessity.

China to impose sanctions on U.S. firms that sell arms to Taiwan

Fri, 07/12/2019 - 11:18am
China said on Friday it would impose sanctions on U.S. firms involved in a deal to sell $2.2 billion worth of tanks, missiles and related equipment to Taiwan, saying it harmed China's sovereignty and national security.

China says U.S. should 'not play with fire' on Taiwan

Fri, 07/12/2019 - 11:16am
China's top diplomat Wang Yi warned the United States on Friday that it should "not play with fire" on the question of Taiwan, expressing anger about a planned U.S. arms sale.

New North Korea constitution calls Kim head of state, seen as step to U.S. peace treaty

Fri, 07/12/2019 - 11:09am
Kim Jong Un has been formally named head of state of North Korea and commander-in-chief of the military in a new constitution observers said was possibly aimed at preparing for a peace treaty with the United States.

Wall Street stocks climb, dollar drops on rate-cut optimism

Fri, 07/12/2019 - 10:57am
U.S. stocks edged higher and the dollar fell as hopes rose for an imminent interest-rate cut, while oil futures were little changed as supply worries triggered by a tropical storm were offset by signs of a global surplus for several months.

U.S. producer prices rise marginally, suggest tame inflation

Fri, 07/12/2019 - 10:53am
U.S. producer prices rose slightly for the second straight month in June as an acceleration in the cost of services was offset by cheaper energy goods, resulting in the smallest annual increase in producer inflation in nearly 2-1/2 years.

Wall Street rises on rate cut optimism; S&P 500, Dow hit new highs

Fri, 07/12/2019 - 10:52am
The S&P 500 and the Dow Jones Industrial Average hit fresh record highs on Friday, as the indexes continued a strong run for the week on hopes of an interest rate cut this month, while investors waited for the start of the corporate earnings season.

Singer R. Kelly charged in decades-long sex trafficking scheme

Fri, 07/12/2019 - 10:38am
Grammy Award-winning singer R. Kelly, who faces state sexual assault charges in Illinois, was indicted on Friday on federal charges for alleged racketeering and sex trafficking that prosecutors said occurred over the past 20 years.

Tropical Storm Barry gains strength as it heads towards New Orleans

Fri, 07/12/2019 - 10:37am
New Orleans residents stocked up on supplies and prepared their homes on Friday as a strengthening Tropical Storm Barry threatened severe rain and flooding when it comes ashore as possibly the first Atlantic hurricane of 2019.

Trump says Labor Secretary Acosta resigning amid Epstein case

Fri, 07/12/2019 - 10:37am
U.S. President Donald Trump said on Friday that Labor Secretary Alexander Acosta has resigned, believing that he has become a distraction to the administration because of his handling of the sex abuse case against financier Jeffrey Epstein a decade ago.

Factbox: Trump administration departures, firings, reassignments

Fri, 07/12/2019 - 10:26am
U.S. Labor Secretary Alex Acosta on Friday became the latest high-ranking official from President Donald Trump's administration to resign. Acosta, standing next to Trump on the White House lawn, said his handling of the sex abuse case against financier Jeffrey Epstein a decade ago had become a distraction.

U.S. refiners in path of Storm Barry to keep running

Fri, 07/12/2019 - 10:21am
Most U.S. refiners whose plants are in the path of Tropical Storm Barry took steps on Friday to keep them running, even as forecasters warned that the second named storm of the season could become a hurricane just before landfall this weekend.

Japan, South Korea fail to mend dispute with frosty meeting

Fri, 07/12/2019 - 9:37am
Japan and South Korea failed to mend a dispute that could threaten global supplies of microchips and smartphone displays after officials met in Tokyo on Friday for a more than five-hour briefing that drew media attention for its frosty start.

Volkswagen investment vaults Argo into top ranks of self-driving firms

Fri, 07/12/2019 - 9:36am
Volkswagen AG's $2.6-billion investment in Ford Motor Co's Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector.

Airbus pulls anniversary book over fraud probe concerns: sources

Fri, 07/12/2019 - 8:32am
Airbus has halted sales of a new book that the planemaker had commissioned for its 50th anniversary to avoid hampering the manufacturer's attempts to win a settlement in a bribery probe, two people familiar with the matter said.

U.S. Democratic hopeful Amy Klobuchar proposes drug cost plan aimed at seniors

Fri, 07/12/2019 - 8:30am
Democratic presidential hopeful Amy Klobuchar unveiled a new plan on Friday to help lower the cost of pharmaceuticals purchased by seniors in the wake of the White House scrapping its own ambitious drug cost plan.

Volkswagen to contribute $2.6 billion to Ford's autonomous venture: source

Fri, 07/12/2019 - 6:37am
Carmaker Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into Ford's self-driving unit, a source close to the matter said on Friday, as the two carmakers deepen a global alliance to share costs.

U.S. diplomat says United States won't intervene in Japan-South Korea dispute

Fri, 07/12/2019 - 6:34am
The top U.S. diplomat for East Asia urged Japan and South Korea to settle a dispute over Japanese export restrictions through dialogue and said the United States did not plan to intervene, NHK reported on Friday.

Factbox: Barry could be latest storm to batter New Orleans

Fri, 07/12/2019 - 6:03am
Tropical Storm Barry was headed toward New Orleans on Thursday, and forecast to gain strength and become this year's first Atlantic hurricane, the latest in a long line of storms to strike the city.

Exclusive: Singapore cautions wealth managers on aggressively courting HK business

Fri, 07/12/2019 - 5:45am
Singapore has cautioned wealth managers against aggressively marketing their services or making other efforts to woo clients to the city state by capitalizing on rival Hong Kong's political turmoil, people with knowledge of the matter said.