Monday, 2 July 2018

Wall Street ends higher, helped by tech rally

Wall Street ends higher, helped by tech rally

(Reuters) - Wall Street ended higher on Monday after a choppy session, with gains in Apple and other technology stocks offsetting worries about an escalating trade war between Washington and its trading partners.

Top U.S. business group assails Trump's handling of trade dispute

WASHINGTON (Reuters) - The U.S. Chamber of Commerce on Monday denounced President Donald Trump's handling of a global trade dispute, issuing a report that argued the tariffs imposed by Washington and retaliation by its partners would boomerang badly on the American economy.

Tesla shares fall despite hitting Model 3 production target

(Reuters) - Shares of Tesla Inc reversed course to trade down 4 percent on Monday after Wall Street analysts questioned the electric carmaker's ability to maintain an increase in production that helped it meet a long-elusive target of making 5,000 Model 3 vehicles per week.

Dell moves to go public, spurns IPO

(Reuters) - Dell Technologies Inc said on Monday it would pay $21.7 billion in cash and stock to buy back shares tied to its interest in software company VMware Inc , returning the computer maker to the stock market without an initial public offering.

Report of Trump bill rejecting WTO seen by trade experts as hot air

GENEVA (Reuters) - U.S. President Donald Trump has ordered the drafting of legislation that would mean abandoning key disciplines agreed at the World Trade Organization, Axios news website reported late on Sunday, to a skeptical response from trade experts.

Tesla engineering head Doug Field steps down

(Reuters) - Tesla Inc said on Monday Doug Field, senior vice president of engineering, is stepping down after five years with the electric carmaker.

U.S. fund managers zero in on software as tariffs upend tech sector

NEW YORK (Reuters) - Worries that a broadening trade war between the United States and China will upend the global supply chain are prompting some U.S. fund managers to buy shares of companies they believe will shield them from such disruptions.

Investors seek cover as trade battles rattle world markets

LONDON (Reuters) - Investors have sharply increased their use of hedging strategies, signaling concerns that the intensifying trade battle between the United States and China might hit economies from Germany to South Korea.

NYC taxi commission study backs pay rise for NYC Uber, Lyft drivers

NEW YORK (Reuters) - New York City's cash-strapped Uber and Lyft drivers have been campaigning for bigger paychecks, and their effort got a boost on Monday from a study two economists conducted for the city's Taxi and Limousine Commission.

Volkswagen components business to become independent entity

FRANKFURT (Reuters) - Volkswagen said its components development and manufacturing business would become an independent entity within the group from January 2019, alongside the VW Passenger Cars business and Volkswagen Commercial Vehicles.

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