Wall Street slides on tech rout, Nasdaq erases 2018 gains
(Reuters) – A selloff in technology majors deepened on Monday, wiping out the tech-heavy Nasdaq index’s gains for the year and pushing the benchmark S&P 500 below a closely watched technical level for the first time in nearly two months.
Transcontinental beefs up packaging business with $1.32 billion Coveris deal
(Reuters) – Transcontinental Inc said it would buy the U.S. packaging business of Coveris Holdings S.A. for $1.32 billion (C$1.70 billion) as the Canadian publisher looks to join other top North American companies in the flexible packaging space.
Tesla said to make 2,000 Model 3s per week, stock down
(Reuters) – Tesla Inc was reported to be making 2,000 of its Model 3 sedans per week, enough to ease stock market nerves around billionaire Elon Musk’s electric carmaker on Monday after a week dominated by news of a crash involving its semi-autonomous…
China hits U.S. goods with tariffs as ‘sparks’ of trade war fly
BEIJING (Reuters) – China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world’s biggest economies in response to U.S. duties on imports of aluminum…
GE Healthcare to sell IT unit to Veritas for $1.05 billion
(Reuters) – General Electric Co’s healthcare unit said on Monday it would sell its information technology business to private equity firm Veritas Capital for $1.05 billion in cash as it sharpens its focus on smart diagnostics and connected devices.
Tesla making 2,000 Model 3s per week: report
(Reuters) – Tesla Inc will fall short of its 2,500 per week target for production of the crucial Model 3 sedan when it reports its numbers this week, according to a report by tech website Jalopnik, citing an email from Chief Executive Officer Elon Mus…
Hudson’s Bay shares drop after security breach at Saks, Lord&Taylor stores
TORONTO (Reuters) – Hudson’s Bay shares dropped on Monday after the Canadian department store operator reported security breaches at some of its Saks Fifth Avenue, Saks OFF 5th and Lord & Taylor stores on Sunday.
Dollar slides as China raises tariffs, U.S. stocks slip
NEW YORK (Reuters) – U.S. stocks tumbled on Monday, weighed down by Amazon.com after U.S. President Donald Trump again attacked the online retailer, while the dollar slid as China raised tariffs on U.S. products in an escalating spat between the world’…
Tech stocks drag Nasdaq into losses for the year
(Reuters) – Shares in U.S. technology majors sank again on Monday, wiping out the tech-heavy Nasdaq index’s gains for the year and sending the benchmark S&P 500 below a closely watched technical level for the first time in nearly two months.
Amazon shares fall 6 percent as Trump renews attack
(Reuters) – Shares of Amazon.com Inc fell 6 percent on Monday after U.S. President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.
