Turkey, trade worries hit Wall Street again
U.S. stock indexes fell on Wednesday in a broad-based decline, hurt by concerns over the strong dollar and Turkey’s currency crisis, as well as the trade tensions with U.S. trading partners that have dominated the first half of 2018.
U.S. retail sales, manufacturing data bolster third-quarter economic outlook
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
U.S. business inventories edge up in June
U.S. business inventories barely rose in June and the inventory-to-sales ratio fell to more than a 3-1/2-year low, suggesting businesses would need to ramp up the accumulation of stock, which would boost economic growth in the third quarter.
Turkish lira undershooting fair value: global banking group
The Turkish lira is significantly below fair value at the moment and should strengthen over the next one to two years as Turkey’s economy slows and exports gain strength, improving the country’s balance of payments outlook, economists for the Institute…
Macy’s raises full-year forecast, investors lock gains
Macy’s Inc on Wednesday reported a surprise rise in quarterly same-store sales and raised its full-year forecasts, but its shares fell 9 percent with some analysts attributing the drop to profit taking following the stock’s run-up this year.
U.S. retail sales rise solidly; productivity accelerates
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
Corona owner pumps $4 billion more into weed producer Canopy
Corona beer maker Constellation Brands will invest a further $4 billion in Canada’s top cannabis producer Canopy Growth , doubling down on one of a growing number of bets by the alcohol industry in legal pot.
Wall Street set for lower open as Turkey, trade tensions weigh
U.S. stock index futures pointed to a lower opening on Wednesday, with investors weighing the impact of Turkey’s currency crisis as well as the escalating tariff tensions between the United States and its trading partners.
Brazil may probe Google over its cell phone system: report
Brazil’s antitrust watchdog Cade is considering opening an investigation into Google over alleged abuses in its cell phone operating system, the president of the agency said in an interview published on Wednesday in newspaper Valor Economico.
FT boss to give back part of $3.3 million salary after staff complain
Financial Times Chief Executive John Ridding is to give some of his 2.6 million pound ($3.3 million) salary back to the company after a group of the newspaper’s reporters complained about his pay, according to an email to staff seen by Reuters.
