Reuters Before the Bell: Stock futures fall on trade war, global growth worries

Click to View in Browser Monday, August 12, 2019 Stock futures fall on trade war, global growth worries U.S. stock index futures fell on Monday, as investors shunned risky bets on fears that a drawn-out trade war between the United States and China would significantly hamper global growth. Exclusive: PSA, Dongfeng to drop two China auto plants, halve workforce - document Peugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared assembly plants, according to a document seen by Reuters, in a last-ditch bid to curb mounting losses as the world's largest auto market loses steam. Oil falls on fears of a global economic downturn Oil prices fell on Monday amid worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as oil. Saudi Aramco aims to buy Reliance stake, reports 12% earnings slide Saudi Aramco is planning a blockbuster investment in Reliance Industries , the Indian firm announced on Monday, as the energy giant diversifies its business, where weaker oil prices pared its first-half profit by 12%. State-run Aramco disclosed its closely guarded financials for the first time earlier this year, revealing its 2018 earnings in order to obtain a public rating and start issuing international bonds. The world's top oil producer plans to launch an Yen and bond bulls charge on as share markets falter Yen and bond bulls charged on Monday while stocks struggled again, amid ongoing worries that a prolonged U.S.-China trade war and damaging Brexit could tip top economies into recession. ABB shares jump as new CEO raises turnaround hopes ABB shares jumped more than 4% on Monday as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik to be its next chief executive. Sensor specialist AMS triggers bidding war for Osram Shares in Osram soared after Austrian sensor maker AMS triggered a bidding war for the German lighting group, saying it was ready to trump Bain and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion). New ABB CEO is committed to at least five years at company New ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday. Take Five: The devil's in the data Fears of a major downturn in euro zone powerhouse Germany have grown following "scary" industrial output figures for June and reports due this week that will hold those concerns up to the light. Iberdrola to sell 40% stake in UK wind project for 1.6 billion pounds Spanish energy firm Iberdrola has agreed to sell a 40% share in British offshore wind project East Anglia One to the Green Investment Group, it said on Monday. Related Video PSA, Dongfeng to drop two China auto plants, halve workforce - reports Saudi Aramco still world's most profitable company despite oil price hit 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