Asian shares fell on Wednesday as initial enthusiasm over the latest U.S.-China trade truce was overtaken by fresh concerns over Washington’s threat of tariffs on additional European goods.
Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.
A senior U.S. official this week told the Commerce Department’s enforcement staff that China’s Huawei should still be treated as blacklisted, days after U.S. President Donald Trump sowed confusion with a vow to ease a ban on selling to the firm.
Lee Iacocca, a charismatic U.S. auto industry executive and visionary, who gave America the Ford Mustang and Chrysler minivan, and was celebrated for saving Chrysler from going out of business, died at the age of 94, the Washington Post reported.
* Born Oct. 15, 1924, in Allentown, Pennsylvania, to Italian immigrants, Iacocca went to work for the Ford Motor Co as an engineer after finishing college. Not long afterward, he switched to Ford’s marketing and sales side.
Lee Iacocca was known for never holding back an opinion. Here are a few of his notable quotes:
Asian shares were subdued on Wednesday as initial enthusiasm over the latest U.S.-China trade truce was overtaken by fresh concerns over Washington’s threat of tariffs on additional European goods.
Oil prices edged higher on Wednesday, steadying after a more than 4% fall in the previous session, as extended output cuts by OPEC and its allies helped underpin prices despite growing concerns about weak demand.
A U.S. judge on Tuesday said he would reduce an $80 million damage award against Bayer AG to $50 million or less in the case of a man who blamed his cancer on glyphosate-based weed killer Roundup.
Amazon will add over 2,000 permanent jobs in Britain this year, taking the U.S. retail giant’s UK workforce to more than 29,500, it said on Wednesday.
Tesla Inc set a record for quarterly vehicle deliveries in a triumphant response to months of questions about demand for its luxury electric cars, sending shares up 7% after hours on Tuesday.
Global regulators will meet in Montreal next week to review pilot licensing requirements, the U.N.’s aviation agency said, as part of a discussion that has gained urgency following two fatal crashes of Boeing 737 MAX aircraft in the past year.
On the heels of the S&P 500’s best June performance in more than six decades, investors are anxious to see whether earnings can justify further gains as the largest U.S. companies open their books in the coming weeks.
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.
Tesla Inc handily beat Wall Street expectations on Tuesday for vehicle deliveries in the second quarter, sending shares up 8% as the performance tempered concerns about demand for the electric car maker’s vehicles.
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