Stories for May 17th 2019

Friday, May 17th 2019 - 09:29 UTC
Beijing cancels major pork order from the US; China a leading market for US hog industry

The same week United States President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 metric tons of US pork - the biggest cancellation in more than a year, according to US Department of Agriculture data released on Thursday.
Friday, May 17th 2019 - 09:24 UTC
Fitch rating agency says uncertainty overflying the Brazilian economy

Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday.
Friday, May 17th 2019 - 09:16 UTC
Trump's administration makes official Huawei's blacklisting further escalating trade dispute with China

The Trump administration on Thursday officially added China's Huawei Technologies to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the telecom giant to do business with U.S. companies.
Friday, May 17th 2019 - 08:55 UTC
Theresa May agrees to step down in early June, says chair of the 1922 Committee

British Prime Minister Theresa May will set out a timetable for her departure in early June after the latest attempt to get her Brexit deal approved by parliament, the chairman of a powerful Conservative committee said on Thursday.
Friday, May 17th 2019 - 08:48 UTC
Sargassum killing Mexico and Caribbean beaches and tourism industry

Tourists looking for sun and sand in Mexican resorts like Cancun, Playa del Carmen and Tulum have been disgusted by foul-smelling mounds of sargassum – a seaweed-like algae – piling up on beaches and turning turquoise waters brown, and experts are warning that it may be the new normal.
Friday, May 17th 2019 - 08:41 UTC
“Of course I'm going for it...” for Tory leadership, pledges Boris Johnson

Boris Johnson, the face of the campaign for Britain to leave the European Union, said on Thursday he will be standing as a candidate to replace Prime Minister Theresa May as Conservative leader.
Friday, May 17th 2019 - 08:14 UTC
EC fines five leading global banks €1.07bn for rigging foreign exchange markets

Five banks have been fined €1.07bn (£935m) by the European Commission after traders clubbed together to rig the foreign exchange market. Four banks in the “Banana Split” cartel - Barclays, RBS, Citigroup and JP Morgan - were fined €811m in all.
Friday, May 17th 2019 - 07:30 UTC
US Justice has requested Chile the arrest of arms and bombs manufacturer tycoon

For 26 years, Chilean business tycoon Carlos Cardoen has been unable to travel abroad for fear of arrest. Cardoen is accused of illegally importing the bomb-making element zirconium from the US, which added a potent incendiary effect to cluster bombs his company, Cardoen Industries, sold to Saddam Hussein's Iraqi regime in the 1980s and 1990s.