Reuters Before the Bell: Samsung Electronics to cut China phone output as market share sinks

Click to View in Browser Wednesday, June 5, 2019 Samsung Electronics to cut China phone output as market share sinks South Korea's Samsung Electronics Co Ltd said on Wednesday it plans to cut production at a smartphone plant in China, as competition from domestic rivals squeezes its share of the world's biggest smartphone market to less than a paltry 1%. Effusive Trump promises Britain a 'phenomenal' post-Brexit trade deal U.S. President Donald Trump on Tuesday promised Britain a "phenomenal" post-Brexit trade deal, dismissed differences over China's Huawei and glossed over other disagreements as he heaped praise on the United States' closest ally. Trump says Prince Harry is a terrific guy, denies casting Meghan as 'nasty' U.S. President Donald Trump said Britain's Prince Harry was a terrific guy and denied casting his American-born wife, Meghan, as a nasty person, claiming media had distorted his words as he actually felt she was very nice. Fed's slipstream leaves stocks beaming, dollar subdued Global stocks gained for a third straight day on Wednesday, bolstered by investors' growing hopes that the Federal Reserve might cut interest rates this year to boost a slowing global economy, while the dollar languished near seven-week lows. Mexican officials to meet Pence in last-ditch talks to avert tariffs Mexican officials will seek to persuade the White House in talks hosted by U.S. Vice President Mike Pence on Wednesday that their government has done enough to stem immigration and avoid looming tariffs. SEC poised to adopt rules aimed at preventing broker conflicts, boosting disclosure The U.S. Securities and Exchange Commission (SEC) on Wednesday will vote to adopt a package of rules mandating brokerage firms disclose potential conflicts in the fees investors pay and the commission brokers earn when giving financial advice. Volkswagen to invest up to 4 billion euros in digital transformation Volkswagen will invest up to 4 billion euros over the years to 2023 to digitalize its administration and production, the German carmaker said on Wednesday, adding that up to 4,000 jobs in non-production units could be cut. BMW and Jaguar Land Rover to jointly develop electric car parts BMW and Jaguar Land Rover on Wednesday said they will jointly develop electric motors, transmissions and power electronics, unveiling yet another industry alliance designed to lower the costs of developing electric cars. Trump defies own party to push ahead with Mexican tariff threat Defying increasing criticism from within his own party, U.S. President Donald Trump said on Tuesday he would likely go ahead with new tariffs on imports from Mexico to pressure it to clamp down on rising numbers of migrants entering the United States. Departures at South African state firms could drag out Ramaphosa's reforms President Cyril Ramaphosa's mission to fix two of South Africa's most troubled state companies, power firm Eskom and South African Airways (SAA), could take longer than planned after their chief executives quit within a week of each other. Related Video Norsk Hydro Q1 core profit plunges after cyber attack Cook: Apple not expected to be trade war target 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