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Saudi Arabia says its oil tankers among those hit off UAE coast

DUBAI/LONDON (Reuters) - Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions between the United States and Iran. The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world’s largest bunkering hubs lying just outside the Strait of Hormuz. It did not describe the nature of the attack or say who was behind it. The UAE had not given the nationalities or other details about the ownership of the four vessels.…

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Sri Lanka imposes nationwide curfew after mosques attacked

KINIYAMA, Sri Lanka (Reuters) - Sri Lankan police fired tear gas at mobs attacking mosques and shops owned by Muslims on Monday and imposed a nationwide curfew after the worst outbreak of sectarian violence since the Easter bombings by Islamist militants. The militants targeted churches and hotels, most of them in Colombo, killing more than 250 people in an attack claimed by Islamic State and fuelling fears of a backlash against the island nation’s minority Muslims. Residents in Muslim parts of North Western Province said mobs had attacked mosques and damaged shops and businesses owned by Muslims for a second day. “There are hundreds of rioters, police…

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Widows of Iraq’s war pick up the threads of fragmented lives

MOSUL, Iraq (Reuters) - In a workshop in a bombed-out factory in Mosul, Najlaa Abdelrahman joins scores of other women on a production line as they sew garments and try to knit their lives back together. Women sew clothes at Waladi textile factory, part of which was destroyed by the war in Mosul, Iraq May 5, 2019. Picture taken May 5, 2019. REUTERS/Abdullah RashidThe mother of three lost her husband during the war against jihadist group Islamic State, which occupied the northern Iraqi city as the capital of its self-declared caliphate until government forces recaptured it in summer 2017. Abdelrahman also lost her Mosul home and now…

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Instant view: Wall Street hit hard by escalation of tariff war

NEW YORK (Reuters) - Wall Street’s main indexes tumbled on Monday after Beijing announced plans to retaliate with higher tariffs on U.S. goods, raising fears that another round of tit-for-tat measures could push the U.S. economy toward recession. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 13, 2019. REUTERS/Brendan McDermidThe Dow Jones Industrial Average fell 489.76 points, or 1.89%, to 25,452.61, the S&P 500 lost 55.69 points, or 1.93%, to 2,825.71 and the Nasdaq Composite dropped 209.35 points, or 2.64%, to 7,707.59. COMMENTS: ALEC YOUNG, MANAGING DIRECTOR OF GLOBAL MARKETS RESEARCH, FTSE RUSSELL, NEW YORK “The recent escalation…

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Selloff deepens on Wall Street as China plans to hit back with tariffs

(Reuters) - Wall Street’s main indexes fell more than 2% on Monday after Beijing announced plans to retaliate with higher tariffs on U.S. goods, raising fears that another round of tit-for-tat measures could push the U.S. economy toward recession. At the center of the selloff were shares of technology companies including chipmakers, manufacturing giants and retailers that are exposed to China. The “FAANG” group of stocks - Facebook Inc, Amazon.com Inc, Apple Inc, Netflix Inc and Google parent Alphabet Inc - fell between 1.7% and 5%. China’s finance ministry said on Monday it planned to impose tariffs ranging from 5% to 25% on 5,140 U.S. products on…

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China to impose tariffs on U.S. goods despite Trump warning

WASHINGTON/BEIJING (Reuters) - China said on Monday it would impose higher tariffs on a range of U.S. goods, striking back in its trade war with Washington shortly after U.S. President Donald Trump warned it not to retaliate. China’s finance ministry said it plans to set import tariffs ranging from 5 percent to 25 percent on 5,140 U.S. products on a target list worth about $60 billion. It said the tariffs will take effect on June 1. The announcement came less than two hours after Trump warned Beijing not to retaliate after China said it “will never surrender to external pressure.” The White House and U.S. Trade Representative’s…

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Six Chinese entities banned from exporting sensitive U.S. goods

FILE PHOTO: Containers and cargo vessels are seen at sunset at a port in Lianyungang, Jiangsu province, China March 12, 2019. REUTERS/Stringer/File Photo WASHINGTON (Reuters) - The U.S. Commerce Department said on Monday it banned six Chinese technology entities, one Pakistani firm and five based in the United Arab Emirates from exporting sensitive U.S. technologies and other goods. In a statement, the Commerce Department said four of the Chinese firms, also with offices in Hong Kong, attempted to procure U.S.-origin commodities that would have supported Iran’s weapons of mass destruction and military programs in violation of U.S. export controls. The Commerce Department said two other Chinese firms…

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Welcome to TrumpTok, a Safe Space From Safe Spaces

The biggest American social networks predate the presidency of Donald J. Trump, some by more than a decade. All were changed by Mr. Trump’s arrival to power, joining many other American institutions in a conspicuous struggle to account for or accommodate political and social upheaval. Each social network has expressed its intention to be a place where people can gather, communicate and act. Their shared surprise at what it actually meant to find themselves at the center of American politics was, if we’re being generous, a failure of imagination.In 2018, just two years into the declared era of “America First,” Musical.ly, a lip-syncing app popular with young…

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U.S.-Chinese tariffs seen cutting global growth by 0.15%: Societe Generale

(Reuters) - The latest U.S. and Chinese round of planned tariffs on each other’s imports may reduce global economic growth by 0.15% and lower China’s gross domestic product by 0.5% and U.S. GDP by 0.25%, Societe Generale’s U.S. chief economist said on Monday. “If the U.S. levies tariffs on all Chinese goods, and China retaliates, these losses could easily double. Confidence effects and financial market reactions also leave the balance of risks tilted to the downside,” Stephen Gallagher, the French bank’s U.S. chief economist, wrote in a research note. Reporting by Richard Leong; Editing by Steve OrlofskyOur Standards:The Thomson Reuters Trust Principles.

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Exclusive: Amazon rolls out machines that pack orders and replace jobs

SAN FRANCISCO (Reuters) - Amazon.com Inc is rolling out machines to automate a job held by thousands of its workers: boxing up customer orders. The company started adding technology to a handful of warehouses in recent years, which scans goods coming down a conveyor belt and envelopes them seconds later in boxes custom-built for each item, two people who worked on the project told Reuters. Amazon has considered installing two machines at dozens more warehouses, removing at least 24 roles at each one, these people said. These facilities typically employ more than 2,000 people. That would amount to more than 1,300 cuts across 55 U.S. fulfillment centers…

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