China Divides Europe in Fight Against Tariffs

Adroitly alternating the threat of a trade war with the lure of its huge import market, China appears to have driven a deep wedge between Germany and the rest of the European Union. And it may even have caused a rift within the German business world.

As Chinese and European trade officials stare each other down over next week’s scheduled imposition of big tariffs on the $27 billion worth of solar panels China sells to Europe each year, Germany has come down on China’s side.

Opec loses power as US shale boom keeps prices down

Oil traders should not lose too much sleep worrying about what Opec, often unpredictable and quarrelsome in the past, will do when it meets this week. The producer cartel, say delegates who attend meetings, is odds on to leave output policy unchanged. As a risk factor for oil markets, its May 31 gathering in Vienna barely features on traders’ radar.