Year: 2019

Global stock markets tumbled on Monday and the Chinese yuan fell to its lowest level since December as the trade dispute between the United States and China escalated.

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U.S. stocks tumbled on Monday after China announced retaliatory tariffs on U.S. goods, heightening fears of a full-blown trade war between the world’s two largest economies that could cripple global economic growth.

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Facebook Inc said on Monday it was raising wages for its U.S. contract workers, such as cafeteria staff and janitors, to a minimum of $20 per hour in San Francisco Bay Area, New York and Washington D.C. and to $18 per hour in Seattle.

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U.S. stock markets fell more than 2% on Monday after China announced retaliatory tariffs on U.S. goods, heightening fears of a full-blown trade war between the world’s two largest economies that could cripple global economic growth.

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Vodafone Group Plc said on Monday that it agreed to sell its New Zealand business to a consortium for about 2.1 billion euros ($2.36 billion).

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Volkswagen truck brand Scania has signed a battery supply deal with Sweden’s Northvolt and is in talks about making an equity investment as part of the startup’s efforts to raise 1.5 billion euros ($1.68 billion), Scania’s head said on Monday.

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Canada’s second-biggest carrier, WestJet Airlines Ltd, on Monday accepted a C$3.5 billion ($2.6 billion) cash buyout offer from private equity group Onex Corp, sending the carrier’s shares surging 63% in Toronto trading.

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Oil futures fell on Monday with Wall Street, as worries about the Sino-U.S. trade talks spooked investors who had sent oil higher in early trade on concerns that tanker attacks in the Middle East could disrupt supplies.

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Bayer said on Monday its Monsanto unit, which is being investigated by French prosecutors for compiling files of influential people such as journalists in France, likely did the same across Europe, suggesting a potentially wider problem.

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Wall Street’s main indexes tumbled on Monday after Beijing announced plans to retaliate with higher tariffs on U.S. goods, raising fears that another round of tit-for-tat measures could push the U.S. economy toward recession.

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China warned on Monday that U.S. policies are threatening the existence of the World Trade Organization, setting out a string of grievances in a WTO “reform proposal” published by the WTO on its website.

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The U.S. Supreme Court on Monday gave the go-ahead for a lawsuit by consumers accusing Apple Inc of monopolizing the market for iPhone software applications and forcing them to overpay, rejecting the company’s bid to escape claims that its practices violate federal antitrust law.

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Volkswagen’s supervisory board is on the brink of announcing the automaker’s entry into battery cell production, two people familiar with the matter told Reuters on Monday.

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China said on Monday it would impose higher tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas, striking back in its trade war with Washington after U.S. President Donald Trump warned it not to.

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Uber Technologies Inc’s shares fell as much as 10% on Monday, more than doubling their losses since the ride-hailing giant’s poorly received Wall Street debut on Friday and raising more questions about investors’ faith in its ability to make profits.

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