Monday 25 June 2018

Wall Street falls as trade threats intensify

Wall Street falls as trade threats intensify

NEW YORK (Reuters) - An escalating trade dispute between the United States and other leading economies battered U.S. stocks on Monday, sending the S&P 500 and Nasdaq to their steepest losses in more than two months.

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.

CBS expands NFL streaming rights to include mobile devices

(Reuters) - CBS Corp on Monday expanded its streaming agreement with National Football League to include mobile devices and extended the rights through the 2022 season, the media company said.

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.

Wells Fargo fined by SEC over investment sales misconduct

(Reuters) - Wells Fargo & Co will pay more than $5.1 million to settle U.S. Securities and Exchange Commission charges it improperly pushed retail customers to actively trade complex investments in order to generate higher fees.

Exclusive: North American, UK, Asian regulators press EU on data privacy exemption

WASHINGTON/BRUSSELS (Reuters) - Financial watchdogs from North America, Britain and Asia are urgently seeking a formal exemption from the European Union's tough new data privacy law to avoid hampering cross-border investigations, regulatory officials told Reuters.

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.

We've changed, Uber tells court in London license battle

LONDON (Reuters) - Uber [UBER.UL] accepted it had made mistakes but said it had changed on Monday in a court challenge to a decision stripping it of its London license after it was ruled unfit to run a taxi service in its most important European market.

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.

BMW executive says would shut UK plants if Brexit hits supply chain

LONDON/FRANKFURT (Reuters) - BMW would have to close its Mini and Rolls-Royce plants in Britain if Brexit seriously disrupts its supply chain, an executive at the German carmaker told the Financial Times.

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