Oil deepens slide on recession fears, China’s trade threats
Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
Ryanair expects minimal disruption from planned strikes
Ryanair expects minimal cancellations with affected passengers flying out at different times if pilots in Britain and Ireland go ahead with a two-day strike next week, the airline’s chief people officer said on Thursday.
U.S. consumer spending strong; manufacturing struggling
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, which could help to assuage financial market fears that the economy was heading into recession.
China to counter latest U.S. tariffs as Trump vows deal on U.S. terms
China on Thursday vowed to counter the latest U.S. tariffs on $300 billion of Chinese goods but called on the United States to meet it halfway on a potential trade deal, as U.S. President Donald Trump said any pact would have to be on America’s terms.
Wall Street rises after strong retail sales data, Walmart earnings
U.S. stocks rose in choppy trading on Thursday, as strong July retail sales data and Walmart’s upbeat results eased some fears about the economy slipping into recession, but a slump in shares of network gear maker Cisco limited gains.
J.C. Penney shares surge as loss halves, sales still falling
J.C. Penney Co Inc posted a smaller-than-expected quarterly loss on Thursday, as the struggling department store operator’s efforts to cut costs and shutter unprofitable businesses paid off, sending its shares up 12%.
Trump says any trade deal with China must be on ‘our terms’: radio interview
Any trade deal the United States makes with China must be on U.S. terms, Donald Trump said on Thursday, as Beijing prepared to take countermeasures in response to the Republican U.S. president’s latest tariffs on $300 billion of Chinese imports.
U.S. manufacturing output drops in July
U.S. manufacturing output dropped in July, ending a run of two months of growth.
Surge in U.S. retail sales underscores economy’s resilience
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, which could help to assuage financial markets’ fears that the economy was heading into recession.
UPS buys stake in TuSimple, testing self-driving trucks in Arizona
UPS said on Thursday it has bought a minority stake in self-driving company TuSimple, and the world’s largest package delivery company has been testing the startup’s autonomous trucks since May on a busy freight route in Arizona.
