S&P edges up as tech stocks gain; Jackson Hole in focus
The benchmark S&P 500 edged higher on Thursday as technology stocks rose, though gains were restricted by declines in commodity-related stocks and trade-sensitive sectors after new tariffs took effect in the U.S.-China trade war.
U.S.-China talks on trade war resume as new tariffs kick in
The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, even as mid-level officials from both sides resumed talks in Washington.
British Airways to suspend flights between London and Tehran
British Airways said on Thursday it is suspending flights between London and Tehran because they are not commercially viable.
China files complaint to WTO against U.S. tariffs
China has filed a complaint to the World Trade Organisation (WTO) against tariffs slapped by the United States on $16 billion worth of Chinese goods, China’s commerce ministry said on Thursday.
Alibaba revenue beats, but investments prolong margin squeeze
Alibaba Group Holding Ltd , China’s biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits.
Australia bans China’s Huawei from 5G mobile network, angers Beijing
Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse” to tilt the playing field against a…
Credit Suisse fires two after sexual assault investigation -FT
Credit Suisse Group AG has fired two male employees in London after uncovering new evidence during an investigation into a sexual assault case from 2010, the Financial Times reported on Thursday, citing a person familiar with the internal review, whic…
Saudi Arabia to apply for $12 billion loan after Aramco IPO stalls: FT
Saudi Arabia’s sovereign fund is set to borrow up to $12 billion from international banks after IPO plans for state energy group Saudi Aramco were put on hold, the Financial Times reported, citing sources.
Bayer’s Monsanto sued by 8,000 plaintiffs on glyphosate
Bayer said the number of U.S. lawsuits brought against newly acquired Monsanto has risen to about 8,000 from 5,200 previously, after Monsanto was ordered to pay damages for not warning of alleged cancer risks of glyphosate-based weedkillers.
Honeywell raises 2018 profit forecast, to get spin-off dividends
Airplane parts maker Honeywell International Inc raised its full-year profit forecast for the fourth time this year on Thursday and said it would receive $3 billion in one-time dividends from units it plans to spin off as part of a company reorganizat…
