Business News

• China November exports fall, but import growth hints of recovering demand December 8, 2019
  China's exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. war but growth in imports may be a sign that Beijing's stimulus steps are helping to stoke demand.
• China November iron ore imports down for second month as top miners ship less December 8, 2019
  China's iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills.
• China's November coal imports slump 19% month-on-month on port curbs December 8, 2019
  China's coal imports plunged 19% in November from the previous month as tighter import rules at ports curbed shipments towards the year's end.
• Amazon CEO says wants to work more with Pentagon December 8, 2019
  (This December 7 story corrects to say country, not company, in fifth paragraph)
• Mexico, U.S. draw closer to finalizing USMCA: source December 8, 2019
  U.S. and Mexican negotiators are "very close" to finalizing the United States-Mexico-Canada Agreement, a Washington-based source familiar with the talks said on Saturday, after a top Mexico official said the two sides had made progress on the trade deal.
• China's November trade surplus with U.S. at $24.60 billion vs $26.45 billion in October December 8, 2019
  China's trade surplus with the United States for November stood at $24.60 billion, Reuters calculation based on Chinese customs data showed on Sunday, easing from the previous month's surplus of $26.45 billion.
• Proxy adviser ISS opposes plan by Hudson's Bay chairman to take firm private December 7, 2019
  Institutional Shareholder Services said on Friday it recommends shareholders vote against a plan by the chairman of Hudson's Bay Co to take the Saks Fifth Avenue owner private after the bid was topped by an offer from Catalyst Capital Group Inc.
• Ericsson to pay over $1 billion to resolve U.S. corruption probes December 7, 2019
  Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday.
• Fiat appeals to Europe's top court against $33 million EU tax order December 7, 2019
  Carmaker Fiat Chrysler has lodged an appeal with Europe's top court against an EU order to pay 30 million euros ($33 million) in Luxembourg back-taxes, seeking to overturn a lower tribunal ruling backing EU antitrust regulators.
• Tesla boss Elon Musk wins defamation trial over his 'pedo guy' tweet December 7, 2019
  Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter.