Banks scramble to re-pitch for Aramco IPO roles: sources
Investment banks are scrambling to re-pitch to advise Saudi Aramco on a possible initial public offering, sources familiar with the matter said, with Saudi Arabia’s energy minister confirming plans for the listing to proceed in 2020 or 2021.
EU open to talks with U.S. in aircraft subsidies dispute
The European Union said on Tuesday it was open to talks with Washington in a dispute over aircraft subsidies while preparing retaliation after the United States added olives, Italian cheese and Scotch whisky to a list of goods in line for hefty tariff…
Strong SUV, truck demand drive U.S. auto sales higher in June
Automakers including Fiat Chrysler Automobiles NV and Hyundai Motor Co on Tuesday reported a rise in U.S. sales for June, lifted by strong demand for sport utility vehicles and trucks. Automakers have focused on selling the more profitable larger…
Outgoing Credit Suisse manager Khan mulling offers: source
Credit Suisse’s outgoing head of International Wealth Management Iqbal Khan is mulling several concrete offers from Swiss and international banks, a source familiar with Khan’s thinking told Reuters on Tuesday.
Fiat Chrysler and Hyundai report rise in U.S. sales in June
Fiat Chrysler Automobiles NV and Hyundai Motor Co reported a nearly 2% rise in U.S. sales for the month of June, helped by strong demand for sport utility vehicles and trucks.
Germany fines Facebook for under-reporting complaints
German authorities have fined Facebook 2 million euros ($2.3 million) for under-reporting complaints about illegal content on its social media platform in breach of the country’s law on internet transparency.
Wall St. opens flat as trade optimism fades
U.S. stocks opened flat on Tuesday, following a record-setting rally in the previous session, as optimism over U.S.-China trade talks waned after Washington threatened tariffs on $4 billion worth of additional European goods.
Macron proposes Lagarde to head ECB in push to end EU jobs deadlock
French President Emmanuel Macron sought to break a deadlock over the EU’s top jobs on Tuesday by proposing France’s Christine Lagarde, now head of the International Monetary Fund (IMF), to lead the European Central Bank (ECB), diplomatic sources said.
Scotch Whisky Association urges U.S. and EU to end trade stand-off
The Scottish government and the Scotch Whisky Association (SWA) urged the United States and the EU on Tuesday to end a trade dispute after Washington threatened tariffs on $4 billion of goods including Scotland’s most famous export.
Oil falls on demand worries even as OPEC, allies extend cuts
Oil prices slipped on Tuesday as concerns that the global economy could be slowing outweighed an agreement by OPEC and allies, including Russia, to extend supply cuts until next March.
