Financials help Wall Street bounce back
U.S. stocks recovered from early losses on Wednesday, helped by financial stocks, although investors were guarded as worries about a recession loomed and trade tensions between the United States and China dragged on.
U.S business groups urge Trump to postpone further China tariff hike
Over 160 business groups on Wednesday appealed to U.S. President Donald Trump in a letter to postpone all tariff hikes on Chinese imports scheduled this year, warning that it could hit shoppers with higher prices during the holiday season.
Huawei plans high-end phone launch under cloud of Android ban
Huawei Technologies plans to forge ahead with the launch of new high-end smartphones in Europe even though it may not be able to offer Google’s official Android operating system and widely used apps such as Google Maps, company executives told Reuters….
Wall Street rebounds as financial shares gain
Gains in financial shares helped U.S. stocks reverse early losses on Wednesday, although investors were guarded amid worries about a recession and trade tensions between the United States and China.
Over 200 U.S. footwear companies urge Trump to scrap proposed tariff hike
More than 200 U.S. footwear companies on Wednesday urged U.S. President Donald Trump to cancel proposed higher tariffs on Chinese imports that take effect beginning next month, calling them hidden taxes that will jack up consumer prices.
U.S. trade agency affirms Trump’s extra 5% tariff hike on Chinese goods
The U.S. Trade Representative’s office on Wednesday reaffirmed President Donald Trump’s plans to impose an additional 5% tariff on a list of $300 billion of Chinese imports starting on Sept. 1 and Dec. 15.
Tiffany profit tops Street estimates, sales fall on tourist spending drop
Luxury jeweler Tiffany & Co on Wednesday reported quarterly earnings that beat estimates on increased spending by local customers in mainland China and a cut-back on marketing costs, even as declines in tourist spending in the United States and political unrest in Hong Kong dragged on sales.
Stocks shed early losses; sterling tumbles on Brexit jitters
A gauge of equities worldwide shed early losses on Wednesday as Wall Street stocks rose despite looming recession jitters, while sterling tumbled as Britain’s prime minister moved to restrict parliamentary time before the country’s planned departure fr…
Apple to stop default practice of keeping Siri recordings
Apple Inc on Wednesday said it would quit its default practice of retaining audio recordings of the requests users make to its Siri personal assistant and limit human review of what audio it does collect to its own employees rather than contractors.
Hudson’s Bay to sell Lord + Taylor for $100 million
Hudson’s Bay Co said on Wednesday it would sell its Lord + Taylor department store business to fashion rental service company Le Tote Inc for about $100 million, as the retail operator culls its portfolio to a few key brands.
