Oil falls but losses capped by hopes of easing trade tensions
Oil prices fell on Tuesday on persistent concerns over future demand, but losses were capped by optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown.
Pompeo: ‘No mixed messages’ from U.S. on Huawei
U.S. Secretary of State Mike Pompeo said on Tuesday the United States was not sending “mixed messages” on Huawei Technologies and he does not believe a U.S. blacklist of the Chinese telecommunications giant will block a trade deal with Beijing.
Wall St. opens slightly lower; Home Depot caps losses
U.S. stocks opened slightly lower on Tuesday, after three straight session of gains, but upbeat earnings from Dow Industrial component Home Depot limited losses.
Mercedes reviews vans model portfolio as diesel debate hammers sales
Daimler is reviewing the product portfolio at its vans division, where sales have been hit hard by doubts about the cleanliness of diesel engined vehicles, Mercedes-Benz executive Marcus Breitschwerdt said on Tuesday.
U.S. banking regulator approves simpler ‘Volcker Rule’ ban on proprietary trading
A U.S. banking regulator announced Tuesday he had approved a final rule simplifying the “Volcker Rule,” which restricts risky profit-seeking trades by banks.
Kohl’s profit beat lifts shares as partnerships pay off
Department store operator Kohl’s Corp reported better-than-expected quarterly profit on Tuesday and said it expected to benefit from new partnerships and the expansion of its Amazon returns program in the second half of the year.
Chinese smartphone maker Xiaomi misses estimates as competition hots up at home
China’s Xiaomi Corp reported 15% growth in quarterly revenue on Tuesday, missing estimates, as fewer people bought smartphones at home and rival Huawei grabbed market share.
U.S. Steel plans to lay off hundreds of workers in Michigan
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.
Qualcomm strikes new licensing deal with LG
Qualcomm Inc said on Tuesday that it has entered into a new five-year patent license agreement with LG Electronics Inc to develop, manufacture and sell 3G, 4G and 5G smartphones.
Oil edges lower, but hopes on easing trade tensions cap losses
Oil prices edged lower on Tuesday on persisting concerns over demand, but optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a potential economic slowdown capped losses.
