Tuesday, 5 March 2019

Stocks stall but dollar gains as China cuts growth target

Stocks stall but dollar gains as China cuts growth target

A gauge of world stock markets recovered from early lows to inch higher on Tuesday as China cut its growth targets to a 30-year low but added more stimulus, while strong U.S. economic data put the dollar on track to notch its fifth straight day of gains.

Wall Street treads water as key market level eyed

Wall Street's main stock indexes moved in and out of positive territory on Tuesday as investors digested positive retailer earnings and economic data and eyed a key level for the benchmark S&P 500 index.

Kohl's profit view beats forecast as tie-ups, new items lure shoppers

Kohl's Corp forecast full-year profit above Wall Street estimates on Tuesday, as partnerships with Amazon and a range of new brands attract more shoppers.

Exclusive: Romania's opposition seeks Huawei ban in telecom infrastructure

Romania's biggest opposition party will trigger a public inquiry into Huawei's contribution to critical infrastructure and seek to bar it from 5G network development due to mounting security concerns, its IT expert said on Tuesday.

Exclusive: Mexican central bank in talks with Amazon about new mobile payments

Mexico's central bank is in talks with Amazon.com Inc to launch a new government-backed mobile payment system that would allow consumers to pay for online purchases using QR codes, the bank's head of payments said.

General Electric CEO forecasts cash outflow; shares, bonds drop

General Electric Co's chief executive surprised investors on Tuesday by forecasting a net cash outflow from the conglomerate's industrial business this year, a far more negative outlook than he offered previously, sending shares and bonds down.

Delta dangles future order for 200 jets, considering Alitalia investment

Delta Air Lines fueled the appetite of planemakers on Tuesday after Chief Executive Ed Bastian said the airline planned to replace some 200 Boeing 757 and 767 aircraft over the next decade.

Papa John's founder Schnatter to exit board in settlement

Papa John's founder John Schnatter is leaving its board of directors as part of a settlement resolving a bitter dispute for control of the world's third-largest pizza chain.

BMW wants clear guidance from Mexico government for investment plans

German carmaker BMW, which is building its first plant in Mexico, is looking for clear signs from the new government of President Andres Manuel Lopez Obrador that would guarantee stability to invest in the country, a top executive said.

JPMorgan backs away from private prison finance

JPMorgan Chase & Co has decided to stop financing private operators of prisons and detention centers, which have become targets of protests over Trump administration immigration policies.

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