U.S. Supreme Court backs American Express in merchant fee dispute

U.S. Supreme Court backs American Express in merchant fee dispute

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday sided with American Express Co and against 11 states, ruling that the company's policy of forbidding merchants from encouraging customers to use rival credit cards with lower fees does not violate federal antitrust law.

Harley-Davidson to move some production out of U.S. to avoid EU tariffs

(Reuters) - Harley-Davidson Inc said on Monday it would move production of motorcycles shipped to the European Union from the United States to its international facilities and forecast the trading bloc's retaliatory tariffs would cost the company $90 million to $100 million a year.

Wall Street pummeled by escalating trade threats

NEW YORK (Reuters) - An escalating trade dispute between the United States and other leading economies battered U.S. stocks on Monday, driving benchmark indexes lower by around 2 percent to their steepest losses in more than two months.

Volkswagen electric car sets Pikes Peak record

(Reuters) - Volkswagen has shown off the sporty side of its electric technology by setting an all-time record in the annual Pikes Peak International Hill Climb in Colorado.

Trump tariffs force companies to rework supply chains

CHICAGO (Reuters) - From global manufacturers such as Harley-Davidson Inc to small tech startups, companies are scrambling to rework supply chains built for an era of stable, open trade policy that is now under threat.

Exclusive: Hudson's Bay in talks with Signa for Kaufhof joint venture: sources

NEW YORK (Reuters) - Saks Fifth Avenue owner Hudson's Bay Co is in discussions with Austrian property and retail group Signa Holding GmbH about a joint venture for its German retail chain Kaufhof, two people familiar with the matter said on Monday.

Vietnam's Bamboo Airways commits to 20 Boeing aircraft

(Reuters) - Boeing Co said on Monday entered into an agreement to sell 20 of its widebody long-haul aircraft to Vietnamese startup Bamboo Airways in a $5.6 billion deal at current list prices.

Ex-State Street executive pulled 'bait-and-switch' on clients: U.S. prosecutor

BOSTON (Reuters) - A former State Street Corp executive engaged in "bait-and switch" by promising to charge several of the bank's clients low fees to execute billions of dollars of trades before secretly applying commissions to them, a U.S. prosecutor said on Monday.

Rebound in South powers U.S. new home sales, dampens prices

WASHINGTON (Reuters) - Sales of new U.S. single-family homes increased more than expected in May as transactions in the South surged to near an 11-year high and dampened prices, but the overall housing market remained constrained by a dearth of properties for sale.

Global stocks sink amid trade turmoil, oil drops on output

NEW YORK (Reuters) - Global stock markets extended losses on Monday as trade fights between the United States and other leading economies worsened, while oil settled lower as the anticipation of sharply higher crude output loomed large.

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