Futures flat, 10-year yields head back above 3 percent
U.S. stock markets headed for a flat open on Wednesday, holding just off three-week highs after brushing aside the latest blows in Washington and Beijing’s trade war.
Mars aims to tackle “broken” cocoa model with new sustainability scheme
Mars Wrigley Confectionery launched a new sustainability strategy on Wednesday with the aim of combating deforestation, child labor and poverty in what it called the “broken” cocoa supply chain.
Toshiba Memory chief shrugs off price concerns, sticks with IPO plans
The chief executive of Toshiba Memory Corp, the world’s No. 2 producer of NAND flash memory chips, on Wednesday brushed aside concerns about falling memory chip prices and reaffirmed the company’s plan to go public in two to three years.
China says won’t weaken currency to boost exports, as U.S. tariffs mount
China will not stoop to competitive devaluation of its currency, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world’s largest economies.
EU says McDonald’s, Luxembourg tax deal not illegal
(This September 19 story corrects to read Gracia, paragraph 13)
Luxembourg welcomes EU ruling on McDonald’s taxes
Luxembourg welcomed on Wednesday the European Commission’s ruling that its tax deal with McDonald’s was not illegal after a three-year long investigation.
KPMG admits misconduct on BNY Mellon reports, says watchdog
KPMG and one of its partners have admitted to serious failings in compliance reports for Bank of New York Mellon , Britain’s accountancy watchdog said, potentially leading to heavy fines as the auditor comes under unprecedented scrutiny.
World stocks bat aside trade war fears, rally for second day
Global equities rallied for a second straight day on Wednesday while safe-haven assets such as U.S. bonds and the Japanese yen slipped to multi-week lows as investors bet the escalating U.S.-China trade spat would inflict less damage than feared.
SAP, Alibaba team up on cloud services
SAP SE , the German business software company, said on Wednesday it was teaming up with Alibaba to offer its flagship products on the Chinese company’s cloud infrastructure.
China’s Alibaba doubles down on chips amid cloud computing push
Alibaba Group Holding Ltd will set up a dedicated chip subsidiary and aims to launch its first self-developed AI inference chip in the second half of 2019 that could be used for autonomous driving, smart cities and logistics.
