Factbox: U.S. companies warn Trump’s tariffs could hit results
A host of U.S. consumer companies have warned that costs related to tariffs on goods imported from China would weigh on their results.
Oil plummets, on track for biggest weekly drop in 2019
Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months.
U.S. tariffs on China to cost American households: NY Fed research
The newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually, researchers said on Thursday, as the Trump administration came under growing political pressure over its trade war with China.
Trump administration announces $16 billion farm aid plan to offset trade war losses
The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow.
Zara owner Inditex appoints new CEO in drive for digital growth
Zara owner Inditex said it would split its dual role of chief executive and chairman, leaving Pablo Isla to lead the company and appointing Carlos Crespo as new CEO in a sign of the importance of digital strategy in driving sales growth.
Deutsche Bank plans cuts in U.S. equities, prime unit: sources
Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters.
Trade uncertainties big downside risk, Fed officials say
Uncertainty over U.S.-China trade, including how long recently increased tariffs will stay in place and if and how trade tensions will get resolved, is holding businesses back from investments and could slow growth if continued, four Federal Reserve po…
Exclusive: JPMorgan cuts ties with OxyContin maker Purdue Pharma – sources
JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker’s alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday.
Zara owner Inditex splits off CEO role, Isla stays in charge
The world’s biggest clothing retailer Inditex said on Thursday it would split its current dual role of chief executive and chairman, leaving Pablo Isla leading the company as chairman and appointing COO Carlos Crespo as the new CEO.
U.S. home sales, manufacturing stumble; job market resilient
Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in economic growth was underway.
