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Japan stocks jump, bonds slide after Trump says trade deal reached

Japan stocks jump, bonds slide after Trump says trade deal reached

CNA2 days ago
TOKYO :Japanese automaker shares led the Nikkei share average higher on Wednesday, while bonds slid after U.S. President Donald Trump said he had reached a trade deal with Tokyo.
The Nikkei leapt 2 per cent in early trading, with the Tokyo Stock Exchange's transport equipment index surging 7 per cent. Toyota Motor soared 10 per cent.
Benchmark 10-year Japanese bond futures tumbled as much as 0.92 yen to 137.68 yen, the lowest since March 28.
Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15 per cent tariff that will be levied on U.S. imports from the Asian country.
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US prepares to allow limited oil operations in Venezuela, starting with Chevron, sources say
US prepares to allow limited oil operations in Venezuela, starting with Chevron, sources say

Business Times

time21 minutes ago

  • Business Times

US prepares to allow limited oil operations in Venezuela, starting with Chevron, sources say

[HOUSTON] The United States is preparing to grant new authorisations to key partners of Venezuela's state-run PDVSA, starting with Chevron, to allow them to operate with limitations in the sanctioned Opec nation and swap oil, five sources close to the matter said on Thursday. If granted, the authorisations to the US oil major, and possibly also to PDVSA's European partners, would mark a policy shift from a pressure strategy Washington adopted this year on Venezuela's energy industry, under US sanctions since 2019. President Donald Trump's administration might now allow the energy companies to pay oilfield contractors and make necessary imports to secure operational continuity. Some imports could be swapped for Venezuelan oil, as authorised in previous licenses, three of the sources said. 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'Chevron conducts its business globally in compliance with laws and regulations applicable to its business, as well as the sanctions frameworks provided for by the US government, including in Venezuela,' a company spokesperson said. The move to ease some restrictions on Venezuela's oil sector follows a prisoner swap this month in which Maduro released 10 American detainees while accepting the return of more than 200 Venezuelans who had been deported from the US and held in an El Salvador prison. Relations between the two countries have been tense for years, and the Trump administration has publicly supported opposition leaders who say their candidate won last year's election, not Maduro. Trump in February announced the cancellation of a handful of energy licenses in Venezuela, including Chevron's, and gave until late May to wind down all transactions. The move left all operations in oil and gas joint ventures with Chevron and other partners in PDVSA's hands, but the companies were authorized to preserve their stakes and output remained almost unchanged. The US State Department, which in May blocked a move by special presidential envoy Richard Grenell to extend the licenses, is this time imposing conditions on any authorization modifications, so that no cash reaches Maduro's coffers, the three sources said. In the past, US officials have promised no money would reach Maduro from oil proceeds despite licenses. But it did because PDVSA demands tax and royalties to be paid before granting exports permits. Even if parties agree to oil swaps, those arrangements save PDVSA, and ultimately Maduro's government, millions of dollars per year in imports. Secretary of State Marco Rubio is not expected this time to ban the authorisations, but is negotiating their scope, they added. 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US regulator approves $10.7 billion Paramount-Skydance merger
US regulator approves $10.7 billion Paramount-Skydance merger

Straits Times

timean hour ago

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US regulator approves $10.7 billion Paramount-Skydance merger

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Trump says Australia has agreed to accept American beef
Trump says Australia has agreed to accept American beef

Straits Times

timean hour ago

  • Straits Times

Trump says Australia has agreed to accept American beef

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