DL-Protect


Iran has no plans to leave OPEC despite tensions: oil minister






GENEVA (Reuters) - Iran has no plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published on Saturday.

“Iran has no plans to leave OPEC...and regrets that some members of OPEC have turned this organization into a political forum for confronting two founding members of OPEC, meaning Iran and Venezuela,” Zanganeh told the Iranian parliament news site ICANA.

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Take Five: Enter the dragon






(Reuters) - CROUCHING DRAGON

There’s plenty of life left in the Chinese dragon, but after roaring for three decades it’s certainly lost some of its puff. Markets are primed for exports from the world’s second largest economy to show weakness and for investment and lending data to show Beijing’s stimulus efforts in the face of a trade war with Washington are bearing some fruit.

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G20 finance chiefs to warn of trade risks, differ on how 'pressing'






FUKUOKA, Japan (Reuters) - Global trade tensions threaten an expected pick-up in economic growth this year and in 2020, a draft communique by the world’s financial leaders showed on Saturday, but the policymakers were divided on whether the need to resolve them was “pressing”.

Finance ministers and central bank governors of the world’s 20 biggest economies, the G20, are meeting in the southern Japanese city of Fukuoka to discuss the global economy amid rising trade tensions between China and the United States.

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U.S. Treasury's Mnuchin says Trump-Xi meeting has parallels to Buenos Aires summit






FUKUOKA, Japan (Reuters) - A highly anticipated late June meeting between U.S. President Donald Trump and Chinese President Xi Jinping has some parallels with their Buenos Aires summit last December that postponed a tariff hike, U.S. Treasury Secretary Steven Mnuchin said on Saturday.

Mnuchin told Reuters in an interview that the U.S.-China trade dispute was at a similar point in December 2018, when Trump and Xi met on the sidelines of a G20 summit, with a U.S. tariff increase about to kick in on hundreds of billions of dollars in Chinese goods.

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G20 financial leaders to stay vague on global trade in communique






FUKUOKA, Japan (Reuters) - Financial leaders of the world’s top economies are likely steer clear of promises to avoid protectionism in their communique on Sunday, amid an escalating trade conflict between the United States and China, officials said on Saturday.

Finance ministers and central bank governors from the world’s 20 biggest economies, the G20, are meeting this weekend in the Japanese city of Fukuoka to discuss the global economy,with trade tensions between the world’s two biggest economies seen as a key risk to global growth.

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Trump calls off tariffs after Mexico vows to tighten borders






WASHINGTON/MEXICO CITY (Reuters) - The United States and Mexico struck a deal on Friday to avert a tariff war, with Mexico agreeing to rapidly expand a controversial asylum program and deploy security forces to stem the flow of illegal Central American migrants.

U.S. President Donald Trump had threatened to impose 5% import tariffs on all Mexican goods starting on Monday if Mexico did not commit to do more to tighten its borders.

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U.S. Treasury's Mnuchin says Mexico immigration deal fixes problems






FUKUOKA, Japan (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Saturday that the U.S.-Mexico immigration deal met President Donald Trump’s objectives of fixing immigration problems on the southern U.S. border, but Trump will retain the authority to impose tariffs if Mexico fails to live up to it.

The deal averts a 5% tariff on all Mexican goods that was due to start on Monday, with Mexico agreeing to rapidly expand a controversial asylum program and deploy security forces to stem the flow of illegal Central American migrants.

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Wall St. Week Ahead: Top U.S. bond managers betting bond market still has room to run






NEW YORK (Reuters) - U.S. bond fund managers are betting that the steep gains in Treasuries over the last month are here to stay.

Yields on the benchmark 10-year Treasury rate have dropped to near 2.10% after rising as high as 2.55% as recently as May 2 as fears of escalating trade wars and slowing global economic growth have spooked equity markets and sent investors to the safety of bonds. Bonds yields fall as security prices rise, leaving investors with capital appreciation gains.

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France prepared to cut Renault stake to bolster deal with Nissan: AFP






(Reuters) - French Finance Minister Bruno Le Maire said France is ready to cut its stake in Renault SA in order to consolidate Renault’s partnership with Nissan Motor Co, Agence France Press (AFP) reported on Saturday.

Le Maire said Paris, which has a 15% stake in Renault, might consider reducing its stake, if it led to a “more solid” alliance between the Japanese and French firms, the French news agency reported, citing an interview with the minister.

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