Reuters: Business News 2 April 2018

Wall Street dragged down by Amazon, tech weakness

(Reuters) - A dreadful week for technology stocks worsened on Monday as Amazon and Tesla shares fell further, setting a grim tone for markets already worried about China's decision to raise import tariffs on U.S. products.

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China hammers U.S. goods with tariffs as 'sparks' of trade war fly

BEIJING (Reuters) - China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminum and steel.

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Hudson's Bay shares drop after security breach at Saks, Lord & Taylor stores

TORONTO (Reuters) - Hudson's Bay shares dropped on Monday after the Canadian department store operator reported security breaches at some of its Saks Fifth Avenue, Saks OFF 5th and Lord & Taylor stores on Sunday.

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Amazon shares fall four percent as Trump renews attack

(Reuters) - Shares of Amazon.com Inc fell 4 percent on Monday after U.S. President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.

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Tesla shares fall again ahead of Model 3 production numbers

(Reuters) - Shares of Tesla Inc fell almost 5 percent on Monday ahead of the electric car maker's announcement of quarterly production numbers for its crucial Model 3 sedan.

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Latin American nations compete for capital in surge of oil auctions

HOUSTON (Reuters) - For decades, many Latin America's oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies.

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Philippines, Malaysia put Uber-Grab deal under anti-competition scrutiny

MANILA/KUALA LUMPUR (Reuters) - Philippines and Malaysia said on Monday they will look into whether Uber Technologies' [UBER.UL] move to sell its Southeast Asian business to ride-hailing rival Grab hinders competition, days after Singapore began a probe into the deal on similar concerns.

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Ukraine's Privatbank files $3 billion lawsuit against PwC subsidiaries

KIEV (Reuters) - Ukraine's largest bank, PrivatBank, said on Monday it had filed a $3 billion lawsuit against the Ukrainian and Cypriot subsidiaries of international accounting firm PwC for alleged breaches during audits of the lender in 2013-2015.

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Trump, Abe to discuss trade after U.S. aluminum, steel tariffs-White House

WASHINGTON (Reuters) - U.S. President Donald Trump will discuss "reciprocal trade and investment ties" with Japan's prime minister Shinzo Abe during a visit later this month, the White House said on Monday.

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