Weak U.S. and euro zone manufacturing data and Washington’s threat to impose additional tariffs on European goods weighed on global stock markets on Tuesday, cooling a rally that pushed U.S. stocks to near-record highs the previous day.
The European Union said on Tuesday it was open to talks with Washington in a dispute over aircraft subsidies after the United States threatened an additional $4 bln in tariffs on EU goods including olives, Italian cheese and Scotch whisky.
An indigenous-led group plans to offer to buy a majority stake in the Trans Mountain oil pipeline from the Canadian government this week or next, a deal that could help Prime Minister Justin Trudeau mitigate election-year criticism from environmentalists.
The Scottish government said on Tuesday it is “deeply concerned” about Scotch whisky being implicated in a long-running trade dispute between the United States and the European Union.
Gucci, the luxury brand that powers most of parent Kering’s profits, made its first steps in high-end jewelery on Tuesday with a dedicated store in Paris – part of its bid to expand its reach after a blowout fashion makeover.
European Union leaders agreed on Tuesday to name Frenchwoman Christine Lagarde as the new head of the European Central Bank and sealed a deal on filling the other four top jobs in the bloc after tortuous marathon talks exposed their deepening divisions.
Dish Network Corp and T-Mobile US Inc are nearing a deal with the U.S. Department of Justice on a hosting agreement that would push Dish as a new U.S. wireless competitor, CNBC reported on Tuesday, citing sources.
French President Emmanuel Macron sought to break a deadlock over the EU’s top jobs on Tuesday by proposing France’s Christine Lagarde, now head of the International Monetary Fund (IMF), to lead the European Central Bank (ECB), diplomatic sources said.
More than 200 U.S. companies, including Amazon , Alphabet Inc’s Google , and Bank of America , on Tuesday urged the U.S. Supreme Court to rule that federal civil rights law prohibits discrimination against gay and transgender workers.
Arizona will withdraw incentives for Nike Inc’s manufacturing plant in the state after the sportswear maker pulled the release of a sneaker that featured an old version of the American flag, Governor Doug Ducey said on Tuesday.
Wall Street’s main indexes were subdued on Tuesday, as a trade truce-fueled relief rally in the previous session fizzled out after the United States threatened additional tariffs on European goods.
Oil prices fell more than 3% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand.
Major automakers on Tuesday posted mixed U.S. sales results for June and the second quarter, with demand still fairly strong for SUVs and pickup trucks while passenger car sales continued a long-running decline.
Apple’s main regulator in the European Union, Ireland’s Data Protection Commissioner (DPC), has opened a third privacy investigation into the iPhone maker over the last few weeks, a spokesman for the DPC said on Tuesday.
U.S. President Donald Trump’s move to relax a ban on Huawei Technologies Co Ltd’s equipment will not have “much impact” on its business as it adjusts to a new era of American hostility, the Financial Times quoted Huawei founder Ren Zhengfei as saying on Tuesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
