Wall Street’s main indexes were set to open lower on Thursday, as investors feared that the U.S.-China trade spat could spiral into a technology cold war between the two countries, with no signs of resolution in sight.
U.S. Secretary of State Mike Pompeo said on Thursday the chief executive of China’s Huawei Technologies was lying about his company’s ties to the Beijing government, and he believed more U.S. companies would cut ties with the tech giant.
Best Buy Co Inc forecast second-quarter sales and profit above estimates on Thursday, as more people signed up for the consumer electronics retailer’s subscription-based tech support services and shopped on its website and app.
Best Buy Co Inc warned on Thursday that price increases from another possible round of tariffs on Chinese imports will be felt by U.S. shoppers.
U.S. President Donald Trump’s $16 billion aid program will help boost American farmers hit by the ongoing U.S.-China trade war, including market access programs, the U.S. agriculture secretary said in a television interview on Thursday.
U.S. Secretary of State Mike Pompeo said on Thursday that China presents a real risk to U.S. national security and he believes more American companies will cut ties with Huawei Technologies
The U.S. Department of Justice’s antitrust chief, Makan Delrahim, is still open to T-Mobile US Inc’s $26 billion acquisition of smaller rival Sprint Corp, CNBC reported on Thursday.
U.S. stock index futures slid on Thursday, as investors worried that the U.S.-China trade war could spiral into a technology cold war between the two countries, with no signs of resolution in sight.
Tyson Foods Inc said on Thursday it has not formalized plans for a beef processing plant in Kazakhstan, responding to a media report that the largest U.S. meat processor was in talks over a multibillion-dollar investment in the country.
Best Buy Co Inc beat Wall Street estimates for quarterly same-store sales on Thursday, as the consumer electronics retailer sold more wearables and tablets and signed up more people to its subscription-based tech support services.
Automotive supplier Bosch has agreed to pay a 90 million euros ($100.21 million) fine for lapses in supervisory duties which enabled carmakers to engage in emissions cheating, German prosecutors in the city of Stuttgart said on Friday.
Beijing said Washington needs to correct its “wrong actions” for trade talks to continue after the U.S. blacklisted Huawei, a blow that has rippled through global supply chains and battered tech shares as investors feared a looming technology cold war.
Starbucks Corp said on Thursday that a company controlled by Thai billionaire Charoen Sirivadhanabhakdi and a Hong Kong-based firm had won an exclusive deal to operate and develop its retail business in Thailand.
Finnish tire maker Nokian Tyres expects its new U.S. factory in Tennessee to help it double its sales in North America, especially by expanding its all-season tire sales in the region, the company said on Thursday.
Deutsche Bank’s chief executive is prepared to make “tough cutbacks” in its investment banking business, whose future is in doubt after several failed restructurings, in order to be profitable and competitive.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
