U.S. trade, services industry data underscore slowing economy
The U.S. trade deficit jumped in May and trade tensions between the United States and China helped drive activity in the services sector to a two-year low in June, further signs that economic growth slowed sharply in the second quarter.
Oil prices climb as U.S. equities rally, rig count drops
Oil prices edged higher on Wednesday ahead of a U.S. holiday, after falling steeply a day earlier as worries about a slowing global economy outweighed a decision by OPEC and allies to extend crude output cuts.
U.S. reviewing requests to export to Huawei with ‘highest scrutiny’: Commerce Department
The U.S. government said on Wednesday it was reviewing license requests from U.S. companies seeking to export products to China’s Huawei Technologies Co Ltd “under the highest national security scrutiny,” since the company is still blacklisted.
Amazon can be held liable for third-party seller products: U.S. appeals court
A federal appeals court on Wednesday ruled against Amazon.com Inc in a case that could expose the online retailer to lawsuits from customers who buy defective products from third-party vendors through its website.
Major averages close at record highs on dovish Fed hopes
U.S. stocks rose on Wednesday, with each of the major indexes closing at a record high, as expectations grew that the Federal Reserve would take a more dovish turn as a raft of data provided more evidence of a slowing economy.
Exclusive: Sweden’s EQT targets Asia Pacific as IPO decision looms
High above Stockholm’s skyline, Sweden’s EQT Partners is plotting the next chapter in its rapid rise from a Nordic-focused investor to the world’s seventh-biggest buyout firm, with a focus on growth in the Asia Pacific region.
Weed leader Canopy Growth ousts co-CEO Bruce Linton
Canada’s Canopy Growth Corp fired founder and co-Chief Executive Officer Bruce Linton, a surprise move that comes just a week after the weed producer’s largest shareholder expressed disappointment over its loss-making streak.
German prosecutors intensify Deutsche Bank client investigation: source
German prosecutors are escalating a money laundering inquiry involving Deutsche Bank , including planned raids on wealthy former clients, a person with direct knowledge of the matter told Reuters.
Boeing promises $100 million to help families affected by deadly crashes
Boeing Co on Wednesday promised $100 million to help families affected by the deadly crashes of the company’s 737 MAX planes in Indonesia and Ethiopia.
Deutsche Bank to axe investment bankers in up to $5.6 billion revamp
Deutsche Bank is preparing to unveil a sweeping, multi-billion euro overhaul within days that would see the axe fall heaviest on investment bankers, sources familiar with the matter said on Wednesday.
