China telecom equipment maker ZTE Corp has agreed to pay more than $800 million to settle with U.S. authorities over allegations it violated U.S. laws restricting the sale of American-made technology to Iran, according to a person familiar with the matter.
Oil prices slipped on Monday, wiping out some of the previous session's gains, as lower growth targets in China and concerns over Russia's compliance with a global deal to cut oil output sparked renewed worries over a crude oil supply glut.
Crude oil prices are starting the day under pressure after OPEC secretary general Mohammad Barkindo said it was too early to talk about extending U.S. production cuts. There are also demand worries as China is expected to lower its growth target for the year to 6.5%, compared with 6.7% last year, and put in new rules to try to cut back on pollution.
South Korean firms are being squeezed in China, in suspected retaliation for Seoul's deployment of a U.S. missile defense system, highlighting the tools China can deploy to hit back at the corporate interests of trade partners it disagrees with.
China supports the work of the World Trade Organization (WTO), the country's foreign ministry said on Thursday, after U.S. President Donald Trump's administration said it might defy WTO rulings it viewed as interfering with U.S. sovereignty.
Safe haven currency bets including the yen, the Swiss franc and to a lesser extent the Swedish crown rose on Tuesday as investors braced for a tensely-awaited speech to Congress by U.S. President Donald Trump.
China said on Friday it had no intention of using currency devaluation to its advantage in trade, responding to U.S. President Donald Trump's description of the Asian giant as the "grand champions" of currency manipulation.