Two Mistral helicopter carriers could end up costing France as much as €5 billion if it fails to deliver them to Russia, according to a French magazine. Paris and Moscow are also now locked in a dispute about how much compensation should be paid.
Saudi Arabia claims its oil price policy of taking investment away from US shale producers and other foreign competitors is succeeding. The OPEC kingpin continues pumping near record volumes to win market share in the global oil ‘battle’.
Honda has announced it would recall an additional 4.9 million cars worldwide with airbags made by Takata due to a potential safety hazard. The airbags are in all Honda vehicles and have led to at least six deaths in accidents in the US and Malaysia.
Global oil supply remained flat in the first quarter of 2015, as slowing shale output in the US was offset by OPEC and increased supply from "unsuspected corners," such as Vietnam, Malaysia and China, according to the International Energy Agency (IEA).
Lawmakers in the United States Senate have thrown a wrench in a plan that would have given President Barack Obama “fast track” authority to advance a 12-nation trade deal between the US and Pacific Ring partners.
The Heilongjiang branch of the Export-Import Bank of China has allocated over $96.5 million to construct the Chinese section of the Sino-Russian railway bridge. The first railway bridge over the Amur River should cut transportation times and boost trade.
Danish brewer Carlsberg reported an unexpected net loss of more than $13 million in the first quarter, saying the revenue from its key Russian market fell drastically due to unfavorable currency fluctuations.
Settlements in local currencies between Russia and China now account for 7 percent of the bilateral trade, but the potential for growth is tremendous, experts tell RT. Yuan-ruble trade in Russia has grown 700 percent in a year.
US real estate mogul and billionaire Donald Trump slammed the Obama administration over its Trans-Pacific Partnership (TPP) trade deal, labeling it as disastrous and warning that it will encourage US companies to slash domestic jobs.
President Barack Obama has pitched a controversial trade agreement it was negotiated between the United States and 11 others at the headquarters of Nike. The footwear giant says it expects to add 10,000 domestic jobs if the deal is approved.
The cost to Japanese business of sanctions imposed against Russia by Western countries could be $10 billion according to the Russian Trade Mission in Japan. Trade between Moscow and Tokyo was almost $30.4 billion in 2014.