Tesla’s Gigafactory in Sparks, Nevada Uptin Saiidi | CNBC Electric-car maker Tesla won a tariff exclusion from the U.S. on the imported Japanese aluminum it uses in its battery cells. The Commerce Department’s decision waives the 10% tariffs that would be placed on the battery cells manufactured in Tesla’s Nevada […]
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Judge approves Teva’s $85 million opioid settlement with state of Oklahoma
Defense attorney Larry Ottaway speaks during opening arguments on the first day of a trial of Johnson & Johnson over claims they engaged in deceptive marketing that contributed to the national opioid epidemic in Norman, Oklahoma, U.S. May 28, 2019. Sue Ogrocki | Reuters An Oklahoma judge Monday approved Teva […]
Here’s Wall Street’s playbook for the Trump-Xi meeting at the G-20 summit
Source: Evercore ISI President Donald Trump and Chinese President Xi Jinping are expected to meet at this week’s G-20 summit in Japan and the stakes for Wall Street are high. The two leaders are expected to discuss the ongoing U.S. China trade war. Talks of a possible trade deal fell […]
Tickets for ‘Avengers: Endgame’ rerelease go on sale starting today at major theater chains
The schedule for the “Avengers: Endgame” movie is displayed at a theater in Berkeley, California, U.S., on Monday, April 29, 2019. David Paul Morris | Bloomberg | Getty Images Marvel fans will soon be able to purchase tickets for the “Avengers: Endgame” rerelease due out on Friday. Representatives from B&B […]
Fed’s Kaplan says it’s ‘too early’ to decide if interest rates need to be cut
Robert Kaplan Hailey Lee | CNBC Dallas Fed Robert Kaplan called on his fellow central bankers to continue to be patient as economic events unfold before making changes to interest rates. In an essay delivered Monday, Kaplan said he is watching factors such as the U.S.-China trade tensions as well […]
Anti-dollar trade makes outlook for gold much more bullish
Ullstein Bild | Getty Images The strong dollar story could be over for now, and that’s putting a shine on gold and other ‘anti-dollar’ trades. “I’ve been bullish the dollar, but I think the bigger, long-term dollar rally is over,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. […]
Energy is one of June’s best-performing sectors, but the rally may be running out of steam
Call it a case of bad energy. Morgan Stanley drilled into the energy sector with a note Monday that lowered price targets on many energy names. This dragged the XLE energy ETF down almost 1 percent on a day when geopolitical tensions increased as President Donald Trump imposed new sanctions on […]
Company earnings look like they will keep sliding through the third quarter
The corporate earnings picture continues to deteriorate, with companies exposed to tariffs taking a particularly strong hit. As profit reports just start to trickle in, the expectations are getting worse. Forecasters already were indicating negative earnings growth for the second quarter, but the outlook also has swung into red numbers […]
You can try Apple’s new iPhone and iPad software now, here’s how to get it
Apple CEO Tim Cook speaks during Apple’s annual Worldwide Developers Conference in San Jose, California, June 3, 2019. Mason Trinca | Reuters Apple on Monday released the public previews for iOS 13 and iPadOS, the new software that it will launch for iPhones and iPads in the fall. This means […]
Home Depot CEO says company hopes to cut costs to reduce impact of tariffs on consumer prices
Home Depot CEO Craig Menear said the company aims to minimize the impact that potential tariffs will have on prices by cutting costs elsewhere along its supply chain. The company makes 70% of its goods domestically, which also lessens the effect, Menear said in an interview Monday on CNBC’s “Squawk […]