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Shares of U.S. exporters tumble as China retaliates on tariffs

Wed, 04th Apr 2018 14:33

April 4 (Reuters) - Shares in U.S. exporters of everythingfrom food to planes were hammered on Wednesday after Chinaretaliated against the Trump administration's tariff plans witha list of duties on key U.S. imports including soybeans, planes,cars, beef and chemicals.

China hit back against U.S. President Donald Trump's plansto impose tariffs on $50 billion in Chinese goods with similartariffs on U.S. goods even as Trump said the country is "not ina trade war with China."

Shares in U.S. aerospace giant Boeing Co fell 5.5percent in early trade while agricultural machinery maker Deere& Co fell 5.6 percent. Soybean exporter Archer DanielsMidland Co was down 1.2 percent while anotheragribusiness Bunge Ltd fell 1 percent.

"So the fear of this ‘dispute’ turning into an all-out ‘war’is once again on the front burner," said Ken Polcari, directorof the NYSE floor division at O’Neil Securities in New York.

Investors in U.S. technology companies were rattled sincethat sector has the biggest revenue exposure to China. UniversalDisplay was down 3.7 percent. Apple Inc fell1.6 percent.

Car maker General Motors Co was down 1.8 percentwhile Ford Motor Co was off 2 percent and Tesla Incfell 4.3 percent.

Chemical provider Chemours Co shed 2.9 percent whileDowDuPont Inc dropped 3 percent.(Reporting by Sinead Carew, Lewis Krauskopf and CharlesMikolajczak in New York, Taenaz Shakir in BengaluruEditing by Jeffrey Benkoe)

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29 Jan 2016 07:24

Tanzania finalises land deal for delayed LNG project

By Fumbuka and Ng'wanakilala DAR ES SALAAM, Jan 29 (Reuters) - Tanzania said on Friday it had finalised a land acquisition for the site of a planned liquefied natural gas (LNG) plant and was now working to compensate and resettle villagers to move forward on a long-delayed project. Ta

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28 Jan 2016 17:22

LONDON MARKET CLOSE: Possible Oil Production Cuts Shift Stocks

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28 Jan 2016 16:07

London close: Stocks end lower on lacklustre UK GDP

(ShareCast News) - London stocks ended lower on Thursday after uninspiring UK fourth quarter economic growth data. The Office for National Statistics said UK gross domestic product rose 0.5% quarter-on-quarter in the final three months of 2015, up from 0.4% in the third quarter, as expected by analy

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28 Jan 2016 14:42

BG Group shareholders give Shell takeover the nod

(ShareCast News) - The second set of shareholder approvals in the mammoth Shell-BG Group merger came through on Thursday, with BG Group shareholders giving it the go-ahead. Royal Dutch Shell's £35bn takeover offer is set to create the world's largest liquefied natural gas trader. A Court Meeting an

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28 Jan 2016 14:41

UPDATE: Shell-BG Deal Secures Approval From Both Sets Of Shareholders

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28 Jan 2016 14:40

UPDATE 1-BG shareholders give Shell's $52 bln acquisition final nod

* Deal approved by 99.5 percent of BG shareholders * Merger set to complete on Feb. 15 By Ron Bousso LONDON, Jan 28 (Reuters) - BG Group shareholders overwhelmingly approved Royal Dutch Shell's $52 billion takeover on Thursday, clearing the way for the two firms to create the wo

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28 Jan 2016 14:28

Shell-BG Group Mega-Merger Secures Approval From Shareholders

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28 Jan 2016 14:21

BG shareholders overwhelmingly back Shell's $51 bln offer

LONDON, Jan 28 (Reuters) - BG Group shareholders on Thursday overwhelmingly voted in favour of Royal Dutch Shell's $51 billion offer to buy the British oil and gas company, clearing the way for the companies to create the world's biggest trader of liquefied natural gas (LNG). The deal won

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28 Jan 2016 13:53

FTSE 100 movers: Royal Dutch Shell and BG Group on the rise after takeover approved

(ShareCast News) - The FTSE 100 resurfaced into the black after sinking into the red before lunch, with the blue chip market up 8.45 points (0.14%) to 5,998.82 by early-afternoon on Thursday. Anglo American surged to the top of the market as investors welcomed its fourth quarter production report. O

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28 Jan 2016 12:09

LONDON MARKET MIDDAY: Stocks Erase Gains As UK GDP Gives Mixed Message

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28 Jan 2016 08:38

LONDON MARKET OPEN: Oil Stocks Shine As Brent Tops USD33 A Barrel

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27 Jan 2016 13:52

UPDATE 2-Shell shareholders approve $50 bln BG takeover

* 83 pct of Shell shareholders in favour of deal * BG shareholders to vote on Thursday * If BG approves, companies will merge on Feb. 15 * Combined company would be biggest LNG trader in world (Adds shareholder comments, details) By Karolin Schaps THE HAGUE, Jan 27

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27 Jan 2016 12:31

Shell shareholders approve $49 bln BG takeover

THE HAGUE, Netherlands, Jan 27 (Reuters) - Shareholders of Royal Dutch Shell approved the company's $49 billion takeover of smaller rival BG Group at a special stakeholder meeting in The Hague on Wednesday. As many as 83.08 percent of shareholders voted in favour of the deal, one of the lar

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27 Jan 2016 12:31

Royal Dutch Shell Shareholders Vote In Favour Of BG Group Takeover

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27 Jan 2016 12:25

Shell shareholders approve BG takeover

(ShareCast News) - Royal Dutch Shell has received shareholder approval for its £35bn takeover of BG Group, with 83% voting in favour of the deal, which would create the world's largest liquefield natural gas trader. If BG shareholders approve the offer at their meeting on Thursday, the deal would be

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