Turning from China, Mnuchin says U.S. focused on EU pact
U.S. trade officials will immediately focus on resolving steel and aluminum tariff issues with the European Union, while a broader trade agreement between the parties likely rolls out in stages over the next year, U.S. Treasury Secretary Steven Mnuchin…
Facebook’s plunge hits Nasdaq; easing trade worries lift Dow
The Nasdaq Composite fell on Thursday as Facebook led a selloff in technology stocks, but the Dow gained as fears of a transatlantic trade war eased after the European Union and the United States agreed to negotiate on tariffs.
U.S. Treasury chief: ‘Disappointed’ Qualcomm deal not ok’d: CNBC
U.S. Treasury Secretary Steven Mnuchin on Thursday said he was very disappointed over Qualcomm Inc’s failed bid to buy NXP Semiconductors NV after China did not approve the deal, calling it “unfortunate.”
U.S. business spending on equipment strong; trade deficit widens
New orders for key U.S.-made capital goods increased more than expected in June and shipments surged, pointing to solid growth in business spending on equipment in the second quarter.
McDonald’s U.S. same-store sales miss estimates, share drop
McDonald’s Corp on Thursday missed U.S. same-store sales estimates for the first time in at least two years as it faces fierce competition in a slack restaurant market, sending its shares down as much as 1.5 percent in early trading.
Mercedes-Benz mulls production shift away from U.S. but no decision taken
German carmaker Daimler on Thursday said it was looking at ways to mitigate the impact of a trade war between China and the United States, a step which includes a review of whether to shift some U.S. production to Asia.
Facebook braces for stock wipeout as lower margins loom
Facebook Inc Chief Executive Officer Mark Zuckerberg’s fortune is set to take a $16 billion hit on Thursday, as the social media giant braces for the biggest one-day wipeout in U.S. stock market history, a day after its executives forecast years of low…
Sky expands against backdrop of takeover battle finale
Sky posted double-digit earnings growth after it added another 500,000 customers in its latest financial year, showing why Comcast and Rupert Murdoch’s Fox are slugging it out to buy the European pay-TV leader.
Nestle CEO says is in full agreement with chairman on strategy
Nestle Chief Executive Mark Schneider on Thursday defended the food giant’s efforts to improve margins without sacrificing growth, also countering speculation he could be in disagreement with Chairman Paul Bulcke on the strategy.
Stock market newbie Spotify hits targets in race with Apple Music
Music streaming leader Spotify’s paid subscriptions rose 10 percent in the second quarter, thanks to family plans that attracted new users and kept them loyal as the Swedish company races to stay ahead of Apple Music .
