European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed Monday.

Oil hit multi-week highs on Monday after Opec indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.

Cases of European firms forced to transfer technology in China are increasing despite Beijing saying the problem does not exist, a European business lobby said, adding that its outlook on the country’s regulatory environment is “bleak”.

Surprisingly retained by Australians in a national election over the weekend, Prime Minister Scott Morrison’s centre-right government now needs to find a fast way out of a worrying slowdown in an economy that has been recession-free since 1991.

Japanese GDP expanded a better-than-expected 0.5 percent in the first quarter of this year, official data showed Monday, although analysts cautioned that the world’s third-largest economy was still facing headwinds.

US President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a “50-50” deal.

Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing,

Chinese smartphone maker Xiaomi Corp reported better than-expected quarterly revenue on Monday due in part to steady growth in sales outside its home market.

Gold fell to a more than two-week low on Monday as investors preferred the safety of the dollar, with the currency underpinned by robust economic reports out of the United States, even as geopolitical risks and trade tensions persist.

The German economy is likely to lose some steam in the second quarter after it posted a solid growth rate in the first three months of the year, the Bundesbank said on Monday.

Chinese army technician Ren Zhengfei founded Huawei with just $5,000 in seed money, according to company lore, but 32 years later it is at the centre of a titanic tug-of-war between the United States and China for world technological supremacy.

Cameroonian start-up boss Serge Boupda made a polished pitch Thursday to a room packed with potential investors in Paris, but he knows a solid business plan does not guarantee interest for firms hoping to unlock Africa’s vast economic potential.

Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month from July to December, an IOC executive said on Friday, as New Delhi seeks to make up for a loss in supplies from Iran.

The US Commerce Department said on Friday it may soon scale back restrictions on Huawei Technologies after this week’s blacklisting would have made it nearly impossible for the Chinese company to service its existing customers. The Commerce Department, which had effectively halted Huawei

The vibe at a gathering this week for blockchain enthusiasts felt decidedly less exuberant than its predecessor a year ago after dizzying swings in bitcoin.

The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact.

Atrophying growth forecasts and waning confidence in President Jair Bolsonaro sent Brazil’s stocks and currency to their lowest level of the year this week, as analysts warned of further falls.

Hewlett Packard Enterprise (HPE) on Friday announced a $1.3 billion deal to buy supercomputer maker Cray, part of a move to expand into data analysis from connected devices .

US President Donald Trump on Friday announced a six-month delay in imposing steep tariffs on auto imports, seeking to pressure Europe and Japan into bargaining table concessions on trade.

Japanese car giant Nissan shook up its executive board Friday, adding a top director from partner Renault as it battles the fallout from the Carlos Ghosn saga and disappointing results.