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US threatens EU with auto tariffs before end of probe

US President Donald Trump threatened a 20 percent tariff on cars imported from the EU unless the bloc removes import duties and other barriers to US goods, escalating a global trade war that the EU has warned could endanger US$300 billion in commerce. “Based on theFULL STORY

OPEC agrees to pump more oil, but prices still jump

The countries of the OPEC cartel on Friday agreed to pump 1 million more barrels of crude oil per day, a move that should help contain the recent rise in global energy prices. However, questions remain over the ability of some OPEC nations — Iran andFULL STORY

Japan hits bitcoin venues

Bitcoin extended losses as it approached the lowest price for the year after Japanese regulators hit six of the country’s biggest cryptocurrency trading venues with orders stipulating business improvements. The biggest virtual currency fell as much as 10 percent to US$6,045.31, testing the low for theFULL STORY

Xiaomi confirms putting off Shanghai initial listing

Chinese smartphone maker Xiaomi Corp (小米) yesterday said there is no time frame for a Chinese share offering, casting doubt on Beijing’s efforts to lure foreign-listed Chinese tech giants back home. Xiaomi had been expected to raise up to US$10 billion, split between a Hong KongFULL STORY

ECB report urges more inclusive growth

Eurozone countries could boost growth and employment by tackling more “inclusive” reforms to their economies, a study by the European Central Bank (ECB) said on Friday. “Well-designed structural policies could yield substantial benefits for euro area citizens via a stronger and more inclusive growth in employmentFULL STORY

Booming market for luxury sneakers proves their appeal

By Catherine Triomphe AFP, NEW YORK

Christian, aged 10, has 20 pairs of high-end sneakers in his closet at his home in the suburbs of New York. Maxance, who just turned 14, asked his parents for an US$800 pair of Adidas AG shoes for his birthday. He did not get them. “WeFULL STORY

Chinese seek more fertile ground abroad to skirt IVF regulations

By Albee Zhang And Sally Mairs

The easing of China’s one-child policy was a godsend to Zhang Yinzhe and his wife, Xu Mengsha, who had decided they wanted to use in vitro fertilization (IVF) to freeze an embryo in the hope of one day having a second child. However, most IVF proceduresFULL STORY

Barcelona eatery trains migrants, shares their tales

By Sophie Davies

Tucked away in a medieval Spanish square, an unconventional restaurant is training refugees and migrants and telling their stories, hoping to change their lives and how people see them. Espai Mescladis is both a restaurant and culinary school — and part publishing house. It trains migrants andFULL STORY

US dollar hits one-year high in Taipei

The US dollar on Friday rose to its highest level against the New Taiwan dollar in a year, after rising more than 1 percent this week. The strong gains by the US dollar resulted from simmering trade friction between the US and China, prompting investors toFULL STORY

OPEC, allies meet to approve hike

OPEC and its allies yesterday gathered for a third successive day of meetings in Vienna to give the final sign-off to an oil production increase. Major producers outside OPEC — including Russia, Mexico and Kazakhstan — met with ministers from the cartel in the Austrian capitalFULL STORY

Europe markets shrug off opening salvos in trade war

European markets rose on Friday, seemingly unworried by a global trade war that got underway when Brussels slapped retaliatory tariffs on the US. Oil prices continued to rise after OPEC said its members agreed on an output increase of 1 million barrels per day that SaudiFULL STORY

US stocks mostly climb on rally by energy companies

Oil prices and energy companies on Friday rallied after OPEC said it would produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, US stocks finished slightly higher at the end of a bumpy week. US crude futures jumpedFULL STORY

TAIEX edges down following overnight drop on Wall Street

Local shares on Friday ended lower after a plunge on Wall Street overnight, but still remained above the market’s six-month moving average. The TAIEX on Friday opened at 10,901.25, hitting a high of 10,914.83 and a low of 10,828.86 before closing down 41.79 points, orFULL STORY

Business Quick Take

ELECTRONICS ZTE nears final US hurdle ZTE Corp (中興通訊) is close to clearing the final hurdle needed for the US government to lift sanctions that prevented the Chinese telecommunications giant from buying US equipment, a US Department of Commerce official said. The Shenzhen-based company has paid aFULL STORY

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