Key News Overnight:
The U.S. and China began a pivotal round of trade negotiations with hours to go before the Trump administration notches up tariffs, deepening a conflict that has shaken financial markets and cast a shadow over the global economy.
U.S. stocks capped a fourth day of losses, though finished off the lows of the day, while the yen strengthened versus the dollar as investors assessed the likelihood of fresh tariffs just hours before they are due to take effect. The yuan fell to its weakest since January.
Chevron Corp. is abandoning its $33 billion offer for oil driller Anadarko Petroleum Corp., the culmination of a month-long bidding war in which Occidental Petroleum Corp. prevailed over a rival five times its size.
The world’s biggest steelmakers are bracing for a tough year as trade disputes and weakening automotive demand dampen the sector.
Crude slid as a trade spat between the U.S. and China overshadowed concerns over global supply disruptions. Futures in New York fell 0.7%.
In This Issue:
WA State Budget | Analyst | Ian Christie
Apollo Consolidated (AOP) | Drill program underway| SPEC BUY | Analyst | James Wilson
China’s April Trade: Domestic Demand Stabilisation and Weak External Demand | Analyst | Helen Lau
MDKA, MYL, SO4, ASB, SWK, KDR
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