Reuters - Before the Bell

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Monday, April 24, 2017

China clamps down on excess steel as Japan decries Trump 'protectionism'

MANILA/BEIJING (Reuters) - Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would open a probe into cheap steel exports from China and elsewhere.

French election relief sends Europe soaring

LONDON (Reuters) - European shares opened sharply higher and the euro briefly vaulted to five-month peaks on Monday after the market's favored candidate won the first round of the French election, reducing the risk of another Brexit-like shock.

Trump resorting to unilateralism with steel probe: China Daily

BEIJING (Reuters) - Washington's move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to take retaliatory steps, the official China Daily said in an editorial on Monday.

Japan steel industry head says concerned at Trump 'protectionism'

TOKYO (Reuters) - Japanese steelmakers are concerned at "protectionism" by U.S. President Donald Trump, Japan Iron and Steel Federation chairman Kosei Shindo said on Monday, following Trump's first shot across China's bows over steel exports.

Luxury retailer Jimmy Choo puts itself up for sale

LONDON (Reuters) - British luxury retailer Jimmy Choo is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday.

Oil recovers lost ground, but market remains under pressure

SINGAPORE (Reuters) - Oil prices recovered lost ground on Monday following big losses last week, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.

LafargeHolcim CEO to depart in wake of Syria controversy

ZURICH (Reuters) - LafargeHolcim Chief Executive Eric Olsen will leave the company in July, the world's largest cement maker said on Monday, in the wake of an investigation into allegations the company paid armed groups in Syria to keep a plant operating.

U.S. Chamber of Commerce chief expects basic NAFTA deal by mid-2018

MEXICO CITY (Reuters) - The United States, Mexico and Canada are likely to reach a basic accord over reworking the North American Free Trade Agreement (NAFTA) by the middle of next year, the head of the biggest U.S. business lobby group said on Sunday.

Tesla’s big Model 3 bet rides on risky assembly line strategy

(Reuters) - Tesla Inc Chief Executive Elon Musk took many risks with the technology in his company's cars on the way to surpassing Ford Motor Co's market value. Now Musk is pushing boundaries in the factory that makes them.

China policymakers bullish on economy, cite strong first-quarter GDP, stable yuan

SHANGHAI (Reuters) - Policymakers in China are pushing a bullish message on the world's second-biggest economy after a solid first quarter, pointing to a slow down in capital outflows and a stable yuan after a selloff last year stoked fears of instability.