Global Glance: Xi warns Trump of strained US-China ties; Arab nations extend Qatar deadline

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

China’s Xi warns Trump of ‘negative factors’ hurting US ties

BEIJING (AP) — Chinese President Xi Jinping warned President Donald Trump on Monday that “some negative factors” are hurting U.S.-China relations, as tensions flare anew over a slew of long-standing sore points. Xi’s comments in a phone call with Trump follow Beijing’s displeasure over U.S. arms sales to rival Taiwan, U.S. sanctions against a Chinese bank over its dealings with North Korea and, most recently, the sailing of a U.S. destroyer within the territorial seas limit of a Chinese-claimed island in the South China Sea. Beijing was also miffed after the State Department gave Beijing a dismal grade last week in a new human trafficking report. Read more

Arab nations extend deadline in Qatar crisis by 24 hours

DOHA, Qatar (AP) — A group of Arab nations early on Monday extended a deadline for Qatar to respond to their list of demands in a diplomatic crisis roiling the Gulf by 48 hours, saying Kuwait’s emir requested the delay as part of his efforts to mediate the dispute. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut off ties with 2022 FIFA World Cup host Qatar on June 5, restricting access to their airspace and ports and sealing Qatar’s only land border, which it shares with Saudi Arabia. They issued a 13-point list of demands to end the standoff June 22 and gave the natural gas-rich country 10 days to comply. Read more

Tesla says its Model 3 car will go on sale on Friday

NEW YORK (AP) — Electric car maker Tesla says its keenly awaited Model 3 car for the masses will go on sale on Friday. CEO Elon Musk made the announcement Monday on Twitter. The car is to start around $35,000 and with a $7,500 federal electric car tax credit, could cost $27,500. Tesla says the five-seat car will be able to go 215 miles (133 kilometers) on a single charge and will be sporty, accelerating from zero to 60 miles per hour in under six seconds. Read more

Trump’s Labor Department wants salary to count on overtime rule

WASHINGTON (AP) — The Labor Department said Friday it wants salary level to count in deciding who is eligible for overtime pay. But it’s holding off setting the maximum pay a worker can get and still qualify. That’s according to a brief filed by the Trump administration in federal court in New Orleans in a case over whether President Barack Obama’s administration had the right to double the threshold to around $47,000. A federal court last year blocked the Obama administration rule, and Labor Secretary Alex Acosta has suggested the decision may have called into question whether his agency could use a salary level at all. Read more

Iran signs $5B gas deal with France’s Total, Chinese firm

TEHRAN, Iran (AP) — Iran on Monday signed a $5 billion agreement with France’s Total SA and a Chinese oil company to develop its massive offshore natural gas field, the first such deal with foreign companies since the landmark 2015 nuclear deal with world powers. Officials in Tehran signed the agreement, which will see the firms develop a portion of the massive South Pars offshore field that Iran shares with Qatar. Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent. Read more

Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students