Reuters Before the Bell: Oil prices fall 1% as economic worries outweigh tanker tensions

Click to View in Browser Monday, June 17, 2019 Oil prices fall 1% as economic worries outweigh tanker tensions Oil prices slipped more than 1% on Monday as signs of an economic slowdown amid international trade disputes began to outweigh supply fears stoked by attacks on oil tankers in the Gulf of Oman last week. U.S. chipmakers quietly lobby to ease Huawei ban Huawei's American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said. Huawei says U.S. ban hurting more than expected, to wipe $30 billion off revenue China's Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company's founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Pfizer to buy cancer drug developer Array for $10.64 billion Pfizer Inc said on Monday it would acquire Array Biopharma Inc for $10.64 billion in cash, giving it access to the target's approved drugs for skin cancer and the targeted cancer medicines in its pipeline. Boeing crisis, trade tensions cast pall over air show Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world's largest planemakers as they arrive at this week's Paris Airshow with little to celebrate despite bulging order books. Spain joins France and Germany in race to build Europe's next combat jet Spain on Monday joined a Franco-German project to build a next-generation fighter jet, an initiative touted as key to ensuring Europe can defend itself without depending on allies in an increasingly uncertain world. Canada backs startup to boost data on space debris The Canadian government's contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris. Boeing says will take time to win back confidence The head of Boeing said on Sunday the U.S. planemaker had made a mistake in implementing a faulty cockpit warning system on the 737 MAX and predicted it would take time to rebuild the confidence of customers in the wake of two fatal crashes. Airbus faces cabin comfort dilemma as it launches A321XLR jet Airbus has broken records by launching the longest-range narrow-body jetliner at the Paris Airshow, but planemakers are having to rethink their mantra on comfort as they squeeze ever more miles out of jets designed for shorter trips. Virgin Atlantic orders 14 Airbus A330neos, with further 6 options Europe's Airbus agreed on a deal to sell 14 A330neo wide-body passenger jets to Virgin Atlantic on Monday valued at $4.1 billion, the companies announced at the Paris Airshow on Monday, with an option for the airline to order six more. Related Video Lufthansa shares tumble after profit warning Target hit by nationwide payment outage Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook