News from Around the World

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MAY

UK set for new PM as Theresa May quits


Theresa May has said she will quit as Conservative leader on 7 June, paving the way for a contest to decide a new prime minister.

FED

QE May Be Over, But the Fed’s U.S. Debt Hoard Is About to Soar


If you thought the Federal Reserve was done with quantitative easing, you might only be half right.

REUTERS

Google suspends Huawei from Android services


Google has dealt a blow to Huawei’s fast-growing consumer smartphone business by suspending the delivery of key software and technical services to the Chinese company, according to two people familiar with the situation.

(Mark Wilson/Getty Images)

World Bank's David Malpass talks 'decentralization' and private investment


WASHINGTON — World Bank President David Malpass outlined a growing country focus at the bank in a speech on Tuesday where he also called on governments to make structural reforms and to create the building blocks for successful private sectors.

PHOTO: SIMON DAWSON/BLOOMBERG NEWS

Saudi Arabia Oil Pipeline Attacked by Drones


Saudi Arabia said Tuesday it halted pumping on a major oil pipeline after it was hit by armed drones, the latest attack on its energy infrastructure after two of its oil tankers were damaged near the Strait of Hormuz over the weekend.

Aly Song/Reuters

China Retaliates Against the U.S. With Its Own Higher Tariffs


BEIJING — China moved to retaliate against the United States, announcing plans on Monday to raise tariffs on a wide range of American goods.

via Economist

America raises tariffs on China, and the stakes in a trade war


MEETING IN WASHINGTON, Chinese and American trade negotiators made it through dinner without hurling the plates at each other. But there was no truce on the menu.

REUTERS

Where now for the rules that rocked European finance?


Helping small and medium companies access capital markets was at the heart of Mifid II but more than 16 months on, bankers and regulators are worrying that Europe’s flagship securities-industry overhaul has become more of a problem than a solution.

Sputnik News

China says it’s still preparing for US trade talks — but won’t give details after new Trump threats


China said Monday its negotiators are still preparing to travel to the U.S. for trade talks this week despite President Donald Trump threatening Beijing with increased tariffs.

PHOTO: NIKKI RITCHER FOR THE WALL STREET JOURNAL

Facebook Building Cryptocurrency-Based Payments System


Facebook Inc is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system on the back of its gigantic social network.