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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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20 Jan 2016 11:28

UPDATE 2-Shell's profits hit by further slide in oil prices

* Shell Q4 core earnings expected at $1.6-1.9 bln * BG exceeds 2015 production target * Norwegian wealth fund says to vote in favour of Shell-BG deal * Shell, BG aim to have cut 10,000 jobs in 2015-16 (Adds further details on results) By Karolin Schaps LONDON, Jan

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20 Jan 2016 09:00

Norway's sovereign wealth fund to vote in favour of BG-Shell merger

OSLO, Jan 20 (Reuters) - Norway's $790 billion sovereign wealth fund, the world's largest, will vote in favour of the merger of energy companies Royal Dutch Shell and BG , it said on Wednesday. "Norges Bank Investment Management considers that the transaction accelerates value for BG Group

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20 Jan 2016 08:39

LONDON MARKET OPEN: Equities Fall As Oil Market Glut Seen Worsening

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20 Jan 2016 07:42

BG Group Earnings Plummet In 2015 But Results Meet Expectations

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20 Jan 2016 07:33

Shell expects BG acquisition to close within weeks

LONDON, Jan 20 (Reuters) - One of the world's largest oil companies, Royal Dutch Shell, expects its roughly $49 billion takeover of rival BG Group to conclude in "a matter of weeks", it said on Wednesday. The oil major, updating the market one week ahead of a shareholder meeting to vote on

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20 Jan 2016 07:22

Shell Earnings Halve In 2015 But Company Commits To Dividend For 2016

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20 Jan 2016 07:21

BG Group beats 2015 production target

LONDON, Jan 20 (Reuters) - Britain's BG Group, which is close to concluding a takeover from rival energy company Shell, beat 2015 production targets due to a ramp-up from fields in Australia, Brazil and Norway, it said on Wednesday. The company also said it had booked a $700 million impairm

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19 Jan 2016 12:15

LONDON MARKET MIDDAY: Shares Gain On Chinese Stimulus Hopes

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18 Jan 2016 15:14

UPDATE 2-Shell ditches major Abu Dhabi gas field project

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17 Jan 2016 11:59

Shell CEO says oil giant would be hit by Brexit

LONDON, Jan 17 (Reuters) - The chief executive of one of the world's biggest firms Royal Dutch Shell warned on Sunday that the oil and gas company would be negatively impacted were Britons to back leaving the European Union in a referendum. Prime Minister David Cameron is renegotiating his

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