Tuesday, 19 November 2019

Daily Investor Update: Oil slumps on oversupply fears, trade talk concerns

Reuters.com Newsletter

Oil slumps on oversupply fears, trade talk concerns

Oil fell more than $1 a barrel on Tuesday on concerns about excess global crude supply and limited progress toward resolving the U.S.-China trade dispute that has clouded the outlook for oil demand.

U.S. safety board chair criticizes Uber for 2018 fatal self-driving crash

The chairman of the U.S. National Transportation Safety Board (NTSB) on Tuesday criticized Uber Technologies Inc for its "ineffective safety culture" at the time of a March 2018 fatal self-driving car crash in Arizona.

U.S. safety board wants Boeing to redesign 737 NG part after fatal Southwest accident

The U.S. National Transportation Safety Board on Tuesday called on Boeing Co to redesign the fan cowl structure on 737 NG planes after a passenger was killed on a Southwest Airlines plane in April 2018 after an engine failure.

Oversupply angst drags oil lower, stocks drift near highs

Oil prices fell sharply on Tuesday on oversupply concerns while a gauge of stocks across the globe was on track to rise for a seventh straight session after large overnight gains in Asia.

Amazon uses aggregated seller data to help business, it tells lawmakers

Amazon.com Inc uses "aggregated data" from sellers in its third-party marketplace to improve its overall business, the online retailer said in response to a congressional antitrust probe that could raise concerns with such sellers.

Retail drags on Wall Street; Dow falls, S&P holds steady

The Dow Jones Industrial Average fell from record levels while the S&P was flat on Tuesday as dour forecasts from retailers Home Depot and Kohl's fueled worries about consumer spending while uncertainty over the U.S.-China trade dispute simmered in the background.

Without a China trade deal, the U.S. will hike tariffs: Trump

The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, U.S. President Donald Trump said on Tuesday, threatening an escalation of the spat that has damaged economic growth worldwide.

Trade commission finds Chinese mattress imports hurt U.S. industry

The U.S. International Trade Commission on Tuesday concluded that U.S. industry is materially injured by Chinese-made mattresses that are sold at less than fair value, paving the way for the U.S. Commerce Department to impose anti-dumping duties.

Former Goldman Sachs CEO pushes back on Warren's criticism, wealth tax

Former Goldman Sachs Group Inc Chief Executive Lloyd Blankfein pushed back on Tuesday against Elizabeth Warren's criticism of him and other prominent billionaires, saying the singling out of individuals makes him fear for the "political process in the United States."

Renault could pull out of markets, products in strategy review: interim CEO

Renault has not ruled out withdrawing from some products or markets as part of a review of its mid-term goals, the carmaker's interim chief executive Clotilde Delbos said on Tuesday.

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