Wall Street dips on U.S.-China trade tensions, Fed meeting eyed
U.S. stocks dipped on Tuesday as U.S.-China trade worries pressured technology shares, while the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into optimism that drove markets to record highs last week.
Under fire, Swiss minister dumps Philip Morris as Expo sponsor
Switzerland scrapped a 1.8 million Swiss franc ($1.8 million) sponsorship deal with Philip Morris International for the country’s pavilion at Expo 2020 in Dubai after being widely criticized for taking tobacco money to promote its image abroad.
Trump warns China not to wait for 2020 U.S. election to make trade deal
U.S. President Donald Trump on Tuesday warned China against waiting out his first term to finalize any trade deal, saying if he wins re-election in the November 2020 U.S. presidential contest, the outcome could be no agreement or a worse one.
Ralph Lauren hints at weakness in North America business, shares fall
Ralph Lauren Corp said on Tuesday it expects full-year sales in North America to be pressured by a tough retail environment and weakness in spending by foreign tourists, overshadowing upbeat quarterly earnings and sending its shares down about 4%.
P&G posts strong sales, takes $8 billion Gillette writedown
Procter & Gamble Co’s quarterly revenue and adjusted profit beat Wall Street expectations on Tuesday, sending shares to a record-high even as the world’s No.1 personal goods company took an $8 billion charge on its Gillette shaving business.
D.R. Horton expects lower incentive spending to boost margins
No.1 U.S. homebuilder D.R. Horton Inc on Tuesday said it expects lower incentive spending and strong buyer demand to benefit margins, sending its shares up about 6%.
Trump’s warnings to China weigh on stocks, sterling falls
A gauge of global stock markets edged lower after a warning from U.S. President Donald Trump to China as bilateral trade talks began on Tuesday, while concerns over a no-deal Brexit dragged on sterling for a fourth day.
Capital One is sued over data breach in proposed class action
Capital One Financial Corp was sued on Tuesday after the bank said a hacker who has since been arrested accessed personal information belonging to about 106 million people in the United States and Canada.
Shares in plant-based burger maker Beyond Meat slide on stock offering
Shares in meat alternatives company Beyond Meat slid on Tuesday, a day after the company known for its pea-based burgers and sausages announced a stock offering plan to raise capital just three months after going public.
Cancer drug Keytruda, vaccines propel Merck to quarterly profit beat
Merck & Co Inc reported better-than-expected second-quarter results on Tuesday and raised its full-year earnings forecast on strong demand for its blockbuster cancer immunotherapy Keytruda and vaccines.
