Latest Wilbur L. Ross Jr. News

US proposes rules to vet all telecoms-related purchases

Nov. 27, 2019 5:23 AM EST

BEIJING (AP) — The Department of Commerce has proposed requiring case-by-case approvals of all purchases of telecommunications equipment in a move likely to hit major Chinese suppliers like Huawei. The plan issued Tuesday follows President Donald Trump’s order in May declaring a national emergency...

House Oversight panel sues Barr, Ross over census documents

Nov. 26, 2019 6:14 PM EST

WASHINGTON (AP) — The House Oversight Committee sued two top Trump administration officials Tuesday for refusing to produce documents related to a decision to add a citizenship question to the 2020 census. Attorney General William Barr and Commerce Secretary Wilbur Ross “have not produced a single...

US again extends limited reprieve on tech sales to Huawei

Nov. 18, 2019 3:19 PM EST

The Trump administration has extended for 90 more days a limited reprieve on U.S. technology sales to Huawei. The U.S. government blacklisted the Chinese tech company in May, deeming it a national security risk. That means U.S. firms aren't allowed to sell technology to Huawei without government approval. The...

Stocks end week of milestones at new highs; Dow tops 28,000

Nov. 15, 2019 5:41 PM EST

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs. Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly...

Probe: Contact between Trump adviser and gerrymandering guru

Nov. 12, 2019 6:11 PM EST

House Democrats investigating the origins of a proposed citizenship question for the 2020 Census said Tuesday they've found previously undisclosed communications between a Trump administration adviser and a redistricting guru who favored excluding noncitizens from population counts to help Republicans. Trump...

Hopes rise that lifting tariffs could allow US-China accord

Nov. 7, 2019 6:14 PM EST

BEIJING (AP) — The prospects for a preliminary breakthrough in the U.S.-China trade war improved Thursday after the two sides agreed to reduce some punitive tariffs on each other's goods, though the full extent of the rollback wasn't clear. A Chinese spokesman announced the development Thursday as talks on...

Asia stocks mixed on possible US-China trade snag

Nov. 5, 2019 11:47 PM EST

BEIJING (AP) — Asian stock markets were mixed Wednesday after investors were rattled by a possible snag in a U.S.-Chinese trade truce following reports Beijing wants Washington to life punitive tariffs. Shanghai and Sydney declined while Tokyo and Hong Kong advanced. Beijing wants 15% tariffs imposed in...

Markets Right Now: Stocks end mostly higher on Wall Street

Nov. 5, 2019 4:10 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are ending mostly higher on Wall Street, marking another set of records for the Dow Jones Industrial Average and the Nasdaq. The S&P 500 index slipped slightly on Tuesday, weighed down by losses in health...

World shares rise on hopes for easing in US-China tensions

Nov. 5, 2019 7:28 AM EST

BANGKOK (AP) — World stocks rose Tuesday on hopes for progress in the U.S.-China trade dispute, which have helped push the Dow Jones Industrial Average to a record high. Germany's DAX edged almost 0.1% higher to 13,139 while the CAC 40 in Paris was up 0.2% at 5,835. Britain's FTSE 100 gained 0.3% to 7,388....

US woos Asia with plan to rival China's 'Belt and Road'

Nov. 5, 2019 6:31 AM EST

BANGKOK (AP) — Commerce Secretary Wilbur Ross said Tuesday the U.S. will invest and trade more in Asia as it rolls out an American plan to support "sustainable" projects in Asia as a counterpoint to China's multibillion-dollar "Belt and Road" infrastructure initiative. Ross is leading a high-powered trade...