Business & Finance News
Wall Street lost ground and the U.S. dollar strengthened to its highest level in more than two years on Tuesday as trade worries persisted and U.S. factory activity entered contraction territory for the first time since February 2016.
Wall Street fell on Tuesday after data showed U.S. manufacturing sector contracted for the first time since 2016 in August, adding to fears that a protracted U.S.-China trade war could tip the world’s largest economy into recession.
U.S. manufacturing activity contracted for the first time in three years in August, with new orders and hiring declining as trade tensions weighed on business confidence, which could renew fears of a sharp economic slowdown.
U.S. President Donald Trump said on Tuesday that trade talks between the United States and China were going well, though he warned that he would be “tougher” in negotiations if the discussions drag on until his second term.
Austrian sensor specialist AMS launched a bid for Germany’s Osram on Tuesday, valuing it at 4.3 billion euros ($4.8 billion) including debt and beating an offer from private equity firms Bain Capital and Carlyle .
Italian broadcaster Mediaset’s plan to reorganize its businesses as part of a pan-European growth strategy is set to be approved by shareholders on Wednesday, despite opposition from the group’s second biggest investor, Vivendi .
The United Auto Workers union on Tuesday said that it would target General Motors Co first of the Detroit automakers for talks ahead of the current four-year contract’s expiration on Sept. 14.
Burger King restaurants in Brazil will begin selling plant-based burgers developed by meatpacker Marfrig Global Foods SA in Sao Paulo city on Sept. 10, with a countrywide launch set for November, Marfrig said in a statement on Tuesday.
A senior Renault-Nissan executive has quit the troubled carmaking alliance to join Peugeot maker PSA Group , blaming Renault boss Thierry Bollore for forcing his exit.
ECB policymakers are leaning toward a stimulus package that includes a rate cut, a beefed-up pledge to keep rates low for longer and compensation for banks over the side-effects of negative rates, five sources familiar with the discussion said.
U.S. stocks fell broadly at the open on Tuesday, as Washington’s new round of tariffs on some Chinese goods kicked in and after a report that officials from both sides were struggling to decide on the schedule for a meeting this month.
Oil prices fell more than 2% on Tuesday, weighed down by rising OPEC and Russian oil output as well as the protracted U.S.-China trade dispute that has dragged on the global economy.
Burger King restaurants in Brazil will begin selling plant-based burgers developed by meatpacker Marfrig Global Foods SA in Sao Paulo city on Sept. 10, with a country-wide launch set for November, Marfrig said in a statement on Tuesday.
U.S. stocks were set to open lower on Tuesday, as Washington’s new round of tariffs on some Chinese goods kicked in and after a report that officials from both sides were struggling to decide on the schedule for a meeting this month.
World stocks slipped and the dollar strengthened to its highest levels in more than two years on Tuesday as U.S.-China trade tensions drove investors to the relative shelter of gold, the Japanese yen and government debt.
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