Trump administration shelves more oil and gas lease sales

U.S. President Donald Trump delivers a statement on the ongoing protests over racial inequality in the wake of the death of George Floyd while in Minneapolis police custody, in the Rose Garden at the White House in Washington, U.S., June 1, 2020. REUTERS/Tom Brenner

(Reuters) – The Trump administration has backed off its regular oil and gas lease sale schedule, postponing at least two auctions that had been set for later this month after delaying a major sale in New Mexico in May, according to an official web site.

The moves mark a shift for the U.S. Department of Interior, which had proceeded with a slew of oil and gas lease sales on public lands earlier this year as the outbreak of the coronavirus caused energy prices to crash.

Drilling on federal lands is a crucial part of President Donald Trump’s “energy dominance” agenda to maximize domestic production of fossil

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U.S.-China tensions, RBA rate decision, currencies in focus

Stocks in Asia Pacific were set to open higher on Tuesday as tensions between the U.S. and China continue to linger.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 22,135 while its counterpart in Osaka was at 22,210. That compared against the Nikkei 225’s last close at 22,062.39.

Shares in Australia were also set to edge higher, with the SPI futures contract at 5,837, as compared to the S&P/ASX 200’s last close at 5,819.20. The Reserve Bank of Australia is set to announce its interest rate decision at 12:30 p.m. HK/SIN.

Developments on recent tensions between the U.S. and China will likely continue to be watched by investors on Tuesday.

Reuters reported Monday, citing sources, that China has told state-owned firms to pause on purchases of soybeans and pork from the U.S. That came on the back of U.S. President Donald

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Chinese telecom firms urge FCC not to block U.S. operations

WASHINGTON (Reuters) – Pacific Networks Corp and its wholly owned subsidiary ComNet (USA) LLC on Monday urged the Federal Communications Commission (FCC) not to shut down its U.S. operations.

FILE PHOTO: The Federal Communications Commission (FCC) logo is seen in Washington February 26, 2015. REUTERS/Yuri Gripas/File Photo

In April, the FCC issued show cause orders to three state-controlled Chinese telecommunications companies, including Pacific, citing national security risks.

The FCC directed China Telecom Americas (0728.HK), China Unicom Americas (0762.HK) and Pacific Networks to explain why it should not start revoking authorizations enabling their U.S. operations.

The other two firms have not yet filed formal FCC responses.

Pacific and ComNet said in a 92-page FCC filing that “neither company has been asked by the Chinese government or the Chinese Communist Party to take any action that would ‘jeopardize the national security and law enforcement interests of the United

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Visa sees recovery in U.S. payments volume in May

FILE PHOTO: A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration/File Photo GLOBAL BUSINESS WEEK AHEAD

(Reuters) – Visa Inc’s (V.N) total U.S. payments volume fell at a much slower pace in May from the previous month, indicating that consumer spending was picking up as the government starts to ease coronavirus-induced lockdowns.

U.S. payments volume in May dropped to 5%, compared with an 18% fall in April. Quarter-to-date, Visa posted an 11% drop in payments volume, the company said in a filing on Monday.

Cross-border volumes, excluding intra-Europe transactions, that drive its international transaction revenue, tumbled 45% in May, while global processed transactions fell 12%,

Visa said in aggregate, recovery in international markets in which it processes the majority of transactions lagged the U.S. in May.

Travel related cross-border volumes declined 78% last month while cross-border

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