Oil slides on trade tensions, Libyan ports reopen
Global benchmark Brent plummeted on Wednesday, dropping more than 5 percent a barrel as trade tensions escalated between the United States and China and expectations of growing supplies mounted on news that Libya would reopen ports.
Trade worries threaten Wall Street’s four-day winning streak
U.S. stocks fell on Wednesday and looked set to snap their four-day winning streak after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods raised fears of an escalating trade war.
Dollar jumps as market focuses on strong data over trade tension
The U.S. dollar rose on Wednesday as the market put aside trade tension fears and focused on expectation-beating inflation report, which increased prospects that the Federal Reserve will raise interest rates another two times this year.
Pfizer separates consumer health unit in business rejig
Pfizer Inc announced plans on Wednesday to reorganize into three units, separating its consumer healthcare business that the U.S. drugmaker has been trying to sell since last year.
U.S. producer inflation rises on strong services gains
U.S. producer prices increased more than expected in June amid gains in the cost of services and motor vehicles, leading to the biggest annual increase in 6-1/2 years.
Exclusive: Airbus faces A330 delivery delays amid HNA Group woes – sources
Airbus faces a logjam of undelivered A330 jets worth well over $1 billion for airlines affiliated to China’s debt-laden HNA Group following a stand-off over late payments, according to industry sources and a Reuters examination of parked aircraft.
Oil plunges on Libya reopening ports, trade tensions
Oil futures plunged on Wednesday as the market remained fixed on supplies resuming from Libya and rising trade tensions between the U.S. and China.
Papa John’s drops after report alleges chairman used racial slur
** Shares of Papa John’s International Inc pizza chain down 3.5 pct to a more-than-two-year low on Wednesday a report that Chairman, founder and former CEO John Schnatter used a racial slur on a conference call
Morgan Stanley manager steps down amid complaints against brokers
Morgan Stanley said on Wednesday that Robert Perry, manager for the firm’s Beverly Hills, California, wealth management office, has left the firm.
Stocks, metals hit by new U.S.-China trade war salvo
Stocks fell and metals prices slumped on Wednesday as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies closer to a full-scale trade war.
