Tuesday, 2 October 2018

Italy weighs on global stocks, but Dow bucks trend to mark record high close

Reuters.com Newsletter

Italy weighs on global stocks, but Dow bucks trend to mark record high close

Stock indexes around the globe weakened on Tuesday, European assets sold off and Italy's bond yields hit multi-year highs after an Italian lawmaker made anti-euro comments, though Wall Street's blue-chip index bucked the trend and set a new record.

Canada PM takes Quebec dairy gamble to preserve big trade deal

With his political future at stake, Canadian Prime Minister Justin Trudeau will mount a charm offensive to placate dairy farmers who say he sold them out in order to win approval of a continental trade deal.

Tesla worried by China tariffs even as deliveries surge

Tesla Inc announced record quarterly car production on Tuesday but warned of major problems with selling cars in China due to new tariffs that would force it to accelerate investment in its factory in Shanghai.

J.C. Penney names Jill Soltau as CEO

J. C. Penney Co Inc on Tuesday named Jill Soltau as its new chief executive officer, effective mid-October, ending the department store chain's months-long search to fill the top job.

Mexican, Canadian steel lobbies urge fix to U.S. tariff dispute

The steel industries of Mexico and Canada on Tuesday urged their governments to resolve a tariff dispute with the United States before signing a new trilateral trade deal that was unveiled this week.

Fed's Powell says U.S. outlook 'remarkably positive'

U.S. Federal Reserve Chairman Jerome Powell on Tuesday hailed a "remarkably positive outlook" for the U.S. economy that he feels is on the verge of a "historically rare" era of ultra-low unemployment and tame prices for the foreseeable future.

How Trump's son-in-law helped salvage the North American trade zone

Robert Lighthizer was the public face of arduous, year-long talks to rework NAFTA, but as he savored a successful conclusion in the White House Rose Garden on Monday, the U.S. trade representative singled out another man as the deal's architect.

Trump hails Canada, Mexico trade pact as win for U.S. workers

President Donald Trump on Monday touted a new trade deal with Canada and Mexico as a win for U.S. workers while investors breathed a sigh of relief that the key pillars of NAFTA had survived his hardball strategy to reshape global commerce.

Dow closes at record but Facebook drags on S&P, Nasdaq

The Dow hit a record closing high on Tuesday, but another drop in Facebook shares weighed on both the S&P 500 and Nasdaq, driving both to finish in the red.

Toys 'R' Us lenders cancel auction, plan to revive brand

The top lenders of Toys 'R' Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys 'R' Us and Babies 'R' Us brand names, a court filing on Monday showed.

Amazon raises minimum wage to $15, urges rivals to follow

Amazon.com Inc said on Tuesday it would raise its minimum wage to $15 per hour for U.S. employees from next month, giving in to critics of poor pay and working conditions at the world's second most valuable company.

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