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Wall Street dragged down by Trump trade tweet

NEW YORK (Reuters) - Wall Street fell again on Thursday, abruptly reversing early gains after U.S. President Donald Trump put concerns about the U.S.-China trade war back in the spotlight, tweeting that he would impose an additional 10% tariff on $300 billion in Chinese imports. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 31, 2019. REUTERS/Brendan McDermidHaving spent most of the session on track for their best day since June, all three major U.S. stock indices took sudden U-turns as investors quickly turned into sellers after the tweet. The bond market rallied on Trump’s comment, prompting U.S. Treasury…

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Trump threatens new tariffs as U.S.-China trade tensions spike again

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday moved to impose a 10% tariff on a remaining $300 billion list of Chinese imports starting Sept. 1, after U.S. and Chinese negotiators failed to kickstart trade talks between the world’s two largest economies. The levies - which would hit a wide swath of consumer goods from cell phones and laptop computers to toys and footwear - ratchet up tensions in a war of tit-for-tat tariffs that have disrupted global supply chains and roiled financial markets for more than a year. U.S. stocks fell after the news and oil prices plummeted, and further fallout was expected. The IMF…

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Trump says U.S. will be ‘taxing’ China until trade deal is reached

U.S. President Donald Trump departs for travel to Cincinnati, Ohio from the South Lawn of the White House in Washington, U.S., August 1, 2019. REUTERS/Carlos BarriaWASHINGTON (Reuters) - President Donald Trump said on Thursday Chinese President Xi Jinping was not moving fast enough on reaching a trade agreement and that the United States would be “taxing” China until a deal is secured. Trump, speaking to reporters, also said he was not concerned about a sharp drop in the Dow Jones Industrial Average after he announced earlier on Thursday that the United States would slap additional tariffs on Chinese goods. The Dow closed down 285 points, reversing gains…

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Facebook takedowns of ‘coordinated inauthentic behavior’ in 2019

FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of the Facebook logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON (Reuters) - Facebook (FB.O) said on Thursday it had dismantled a network of fake accounts and pages it said were run by people connected to the government of Saudi Arabia, the company’s latest action to combat “coordinated inauthentic behavior” on its platform. Social media companies Facebook, Twitter (TWTR.N) and Google’s (GOOGL.O) YouTube are under intense pressure to help stop illicit political influence campaigns online ahead of the upcoming U.S. presidential election. Here is a list of takedowns announced by…

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Facebook says it dismantles covert influence campaign tied to Saudi government

LONDON (Reuters) - People connected to the government of Saudi Arabia have run a network of fake accounts and pages on Facebook (FB.O) to promote state propaganda and attack regional rivals, the social media giant said on Thursday. FILE PHOTO: Saudi Arabia's Deputy Crown Prince Mohammed bin Salman (R) meets Facebook CEO Mark Zuckerberg at the tech giant's headquarters in Silicon Valley, U.S. June 22, 2016. Saudi Royal Court/Handout via REUTERS/File PhotoFacebook said it had suspended more than 350 accounts and pages with about 1.4 million followers, the latest takedown in an ongoing effort to combat “coordinated inauthentic behavior” on its platform, and the first such activity…

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LSE’s $27 billion deal rehabilitates Refinitiv debt

NEW YORK (Reuters) - Financial data firm Refinitiv’s $13.5 billion debt, once described as having some of the weakest-ever investor protections typical of the frothy peak of the credit cycle, is being rehabilitated by its $27 billion merger with the London Stock Exchange. The Refinitiv logo is seen in offices in Gdynia, Poland August 1, 2019. REUTERS/Matej LeskovsekPrices of Refinitiv’s [RFT.UL] bonds hit all-time highs Thursday after the LSE formally announced the acquisition and said Refinitiv’s debt would be refinanced by a bridge loan of the same size. The combination with the investment-grade LSE would boost the credit profile of Refinitiv, which currently holds a speculative-grade rating.…

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Beyond Meat’s secondary stock offering priced at $160 per share

(Reuters) - Meat alternatives company Beyond Meat Inc said on Wednesday a secondary offering of 3.25 million new shares would be priced at $160 per share, an 18.6% discount to the stock’s closing price. With the new offering, of which 250,000 shares are being offered by the company, Beyond Meat is looking to raise $40 million in new capital to expand manufacturing facilities and pay for marketing investments. The sale came just three months after the company went public and sent Beyond Meat’s shares tumbling over 12% went it was announced on Monday. The El Segundo, California-based company’s shares have surged nearly 690% since its May IPO…

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U.S. retailers blast new China tariffs, see boost in consumer prices

FILE PHOTO: People shop for shoes inside Westfield San Francisco Centre in San Francisco, California November 29, 2013. REUTERS/Stephen Lam WASHINGTON (Reuters) - President Donald Trump’s threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1 will hit consumers at the start of the important back-to-school buying season, four large retail trade associations warned on Thursday. The Footwear Distributors and Retailers of America said the tariffs would jack up prices for consumers and could have a chilling effect on hiring. “President Trump is, in effect, using American families as a hostage in his trade war negotiations,” the group’s president, Matt Priest,…

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Retail trade group says plan to impose new tariffs will raise prices, hurt jobs

FILE PHOTO: A pedestrian walks past a window display in an empty store in the Pinellas County city of Clearwater, Florida, U.S., May 16, 2019. REUTERS/Brian SnyderWASHINGTON (Reuters) - The National Retail Federation, a top U.S. trade group, said President Donald Trump’s threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1, is a flawed strategy that will raise prices and hurt jobs. “We are disappointed the administration is doubling-down on a flawed tariff strategy that is already slowing U.S. economic growth, creating uncertainty and discouraging investment,” Senior Vice President for Government Relations David French said in a statement. “These additional…

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Banks could reap $100 million in fees from LSE-Refinitiv deal

LONDON (Reuters) - A pool of ten investment banks working on the London Stock Exchange Group’s $27 billion purchase of financial-data business Refinitiv could reap advisory fees of up to $100 million, according to industry estimates. FILE PHOTO: The Refinitiv logo is seen on a screen in offices in Canary Wharf in London, Britain August 1, 2019. REUTERS/Toby MelvilleThe acquisition ranks as Britain’s biggest deal so far this year and Europe’s second biggest after Novartis’s spinoff of its eyecare division Alcon in April, according to Refinitiv data. The LSE said the transaction would be a “defining moment” in its history as it will transform the exchange operator…

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