Reuters Before the Bell: Futures rebound after Wall Street's worst day of 2019

Click to View in Browser Tuesday, August 6, 2019 Futures rebound after Wall Street's worst day of 2019 U.S. stock index futures signaled a bounce on Tuesday, as China stepped in to steady the yuan and investors sought beaten-down stocks, a day after Wall Street's main indexes racked up their steepest one-day percentage fall of the year. Rout eases as China keeps yuan on a leash A rout in global markets eased on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7 to the dollar led the United States to label Beijing a currency manipulator. Vivendi turns to Tencent to gain Universal foothold in China Vivendi is in talks to sell up to 20% of Universal Music Group (UMG) to Tencent , valuing its prized asset at around 30 billion euros ($34 billion), in an attempt to break into China's growing but tightly-controlled music market. Apple, Goldman Sachs start issuing Apple Cards to consumers Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank's new consumer business. Exclusive: China's Huawei seeks compensation from Flex over withheld goods Huawei Technologies said it was seeking compensation from its contract manufacturer Flex Ltd for illegally withholding some 400 million yuan ($57 million) worth of its goods in the wake of a U.S. trade ban on the Chinese firm. China says U.S. currency manipulator labeling could cause chaos in financial markets China's central bank said on Tuesday that Washington's decision to label Beijing as a currency manipulator would "severely damage international financial order and cause chaos in financial markets". China to unveil special tax policy in Shanghai Free Trade Zone China said on Tuesday it will implement a special tax policy in the newly expanded Shanghai Free Trade Zone, in a bid to promote free trade as Beijing's year-long trade dispute with Washington threatened to escalate into a full-blown economic war. Diabetes drug maker Novo Nordisk buys pill factory in North Carolina Novo Nordisk said on Tuesday it had bought a factory in North Carolina that would assist in manufacturing and packaging its new once-daily pill for treating type 2 diabetes. For J.C. Penney CEO, debt haunts turnaround bid J.C. Penney Co Inc's stock has plunged more than 70% over the past year and now trades under $1. Its first-quarter financial loss nearly doubled to $154 million.  Factbox: J.C. Penney's revolving door of CEOs J.C. Penney Co Inc late last year tapped Jill Soltau as chief executive officer to stem the decline in sales, the fifth leadership change at the department store operator in 15 years. Related Video Stocks rout deepens as U.S. sets crosshairs on yuan UK retailers suffer weakest July sales growth on record - BRC 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