DWS: One-in-four chance ECB will hike rates next year
There is a one-in-four chance that European Central Bank chief Christine Lagarde will deliver an interest rate hike in her first year in office, German asset management firm DWS predicted on Tuesday, adding the risk of a global recession was very low.
Kroger 2020 profit, sales estimates top expectations; shares surge
Supermarket chain Kroger Co forecast 2020 profit and comparable sales ahead of Wall Street estimates on Tuesday, saying it expects to see further benefits from investments in store modernization and deliveries, sending its shares up 10%.
JPMorgan CEO says lessons learned from failed WeWork IPO
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon defended the bank’s work advising WeWork on its failed effort to go public, but added that the bank learned lessons from the experience.
Oil gains 1% as China pushes Trump for more tariff roll-backs
Oil prices rose more than 1% on Tuesday on hopes for a U.S.-China trade agreement and optimism that Washington could roll back some of the tariffs it has imposed on Chinese imports.
Wall Street takes a breather after trade-fueled rally
U.S. stocks took a breather on Tuesday, weighed down partially by losses in healthcare stocks, after a rally driven by hopes of a trade truce between Washington and Beijing propelled the three main indexes to record highs a day earlier.
Coach powers Tapestry profit beat, tariffs to weigh on Kate Spade brand
Tapestry Inc reported quarterly profit above market expectations on Tuesday, but warned of weakness at its Kate Spade business due to tariffs on apparel and jewelry imported from China.
Lufthansa invites unions for talks ahead of planned strike
Lufthansa said its Chief Executive Carsten Spohr had invited representatives of three unions for talks on a wage dispute that threatens to ground the airline’s German fleet for 48 hours from late on Wednesday.
U.S. SEC to propose rules that could limit shareholders’ voice in corporate voting proposals
Wall Street’s top regulator is poised on Tuesday to propose a long-awaited rule that would set new limits on shareholders’ ability to call for change at companies on thorny issues like climate change disclosures and executive compensation.
Fed’s Barkin: It’s a good time to pause interest rates
The U.S. Federal Reserve should hold interest rates steady for the time being after last week’s cut in borrowing costs and assess how the economy evolves, Richmond Fed President Thomas Barkin said on Tuesday.
Italy’s PM says he will not bend on Ilva steel plant dispute
Italian Prime Minister Giuseppe Conte said on Tuesday he would not allow ArcelorMittal to pull out of its acquisition of troubled steel plant Ilva, as the threat of huge job losses piled pressure on the government.
