EU Said to Be Willing to Accept US Trade Deal With Key Exemptions
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Associated Press
a few seconds ago
- Associated Press
China targets 2 Lithuanian banks in response to new EU sanctions
BEIJING (AP) — China imposed sanctions on two Lithuanian banks in what it said was retaliation for the European Union including two Chinese financial institutions in its latest round of sanctions against Russia. Lithuania's UAB Urbo Bankas and Mano Bankas AB are prohibited from having any cooperation with individuals or institutions in China, according to a statement Wednesday from the Ministry of Commerce. The European Union adopted a new round of sanctions against individuals and companies supporting Russia in its war with Ukraine in July, which went into effect August 9. Among them were multiple Chinese companies, although China's Ministry of Commerce did not name which financial institutions were affected. 'The EU, disregarding China's solemn position, insisted on adding two Chinese financial institutions to its sanctions list for alleged involvement in Russia, and formally implemented the sanctions on August 9,' said the statement. It added the move 'severely damages the legitimate rights and interests of Chinese companies, and has a serious negative impact on China-EU economic and trade relations and financial cooperation.' NATO has in the past called China a 'decisive enabler' of Russia's war effort as its companies sold tools, equipment and microelectronics.
Washington Post
a few seconds ago
- Washington Post
China targets 2 Lithuanian banks in response to new EU sanctions
BEIJING — China imposed sanctions on two Lithuanian banks in what it said was retaliation for the European Union including two Chinese financial institutions in its latest round of sanctions against Russia. Lithuania's UAB Urbo Bankas and Mano Bankas AB are prohibited from having any cooperation with individuals or institutions in China, according to a statement Wednesday from the Ministry of Commerce. The European Union adopted a new round of sanctions against individuals and companies supporting Russia in its war with Ukraine in July, which went into effect August 9. Among them were multiple Chinese companies, although China's Ministry of Commerce did not name which financial institutions were affected. 'The EU, disregarding China's solemn position, insisted on adding two Chinese financial institutions to its sanctions list for alleged involvement in Russia, and formally implemented the sanctions on August 9,' said the statement. It added the move 'severely damages the legitimate rights and interests of Chinese companies, and has a serious negative impact on China-EU economic and trade relations and financial cooperation.' NATO has in the past called China a 'decisive enabler' of Russia's war effort as its companies sold tools, equipment and microelectronics.
Yahoo
28 minutes ago
- Yahoo
Gold Notches Small Gain as US Inflation Data Aids Rate-Cut Bets
(Bloomberg) -- Gold extended a modest gain, following a US inflation reading that was in line with expectations and reinforced wagers on the Federal Reserve cutting interest rates next month. Bullion edged up after closing 0.2% higher in the previous session, after underlying US inflation accelerated to the strongest since the start of the year — though a tepid rise in goods prices eased concerns about tariff-driven pressures. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The data boosted speculation that the Fed will reduce borrowing costs next month, especially given a softening labor market. Gold, which pays no interest, typically benefits in a lower rate environment. Traders are still on the lookout for clarification on whether gold bar imports would be subject to tariffs. The US Customs and Border Protection agency stunned the market last week by saying they would be subject to duties, which prompted a spike in the premium for gold futures in New York over the spot price in London. On Monday, Trump said there would not be a levy but didn't elaborate. Futures and spot prices continued to converge after Trump's latest comments. The December contract on New York's Comex held near $3,400 an ounce on Wednesday, while spot gold traded near $3,355 an ounce. Gold has climbed about 28% this year, with the bulk of those gains in the first four months. It has been supported by heightened geopolitical and trade tensions that have spurred haven demand, along with strong central bank purchases. Spot gold edged 0.4% higher to $3,360.70 an ounce at 8:25 a.m. in London. The Bloomberg Dollar Spot Index was down 0.1%, after posting a 0.4% loss on Tuesday. Silver climbed as much as 1.3%, while platinum and palladium also gained. Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Dubai's Housing Boom Is Stoking Fears of Another Crash The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results A $340 Million New York Office Makeover Is Converting Boardrooms to Bedrooms ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
