Blue Apron beefs up menu with Beyond Meat, shares surge 60%
Blue Apron Holdings Inc’s beleaguered stock surged 60% on Tuesday after the meal-kit subscription service said it would add Beyond Meat Inc’s plant-based burgers to its menu, betting on a growing market for premium meat alternatives to attract new customers.
Source: Reuters Business News
Senators grill Facebook on its plans for Libra cryptocurrency
Facebook Inc is “delusional” to believe people will trust it with their money, a U.S. senator said on Tuesday as lawmakers from both sides of the aisle grilled the social media company on its plans for a digital currency at a hearing on Tuesday.
Source: Reuters Business News
U.S. SEC chief says he has not discussed Libra with Facebook
A top U.S. financial market regulator said on Tuesday he has not discussed with Facebook its Libra currency proposal, nearly a month after the social media giant announced the project.
Source: Reuters Business News
JPMorgan beats profit estimates but shows signs of pressure
JPMorgan Chase & Co reported a quarterly profit that beat estimates on Tuesday as higher interest income and consumer lending offset lower activity at its trading desks.
Source: Reuters Business News
Global stocks fall, U.S. yields rise on retail sales data
A gauge of global equities fell on Tuesday and U.S. Treasury yields climbed as a stronger-than-anticipated report on retail sales raised the possibility the Federal Reserve could move towards a less dovish stance.
Source: Reuters Business News
Trump sees slowing Chinese growth pressuring Beijing on trade
U.S. President Donald Trump on Monday seized on slowing economic growth in China as evidence that U.S. tariffs were having “a major effect” and warned that Washington could pile on more pressure as bilateral trade talks sputtered along.
Source: Reuters Business News
U.S., Chinese officials to discuss trade in phone call this week: Mnuchin
U.S. Treasury Secretary Steven Mnuchin on Monday told reporters he expects to have another telephone call with Chinese officials this week as part of resumed discussions about a trade agreement.
Source: Reuters Business News
China data supports stocks as U.S. earnings season begins
A gauge of global stocks edged higher on Monday after economic data from China came in as expected, although stocks on Wall Street slipped as financials showed some weakness in the wake of Citigroup’s earnings report.
Source: Reuters Business News
Amazon rivals ride on Prime Day marketing as protests unfold
Amazon.com Inc’s Prime Day is now a major marketing opportunity and shopping event in the annual calendar for other U.S. retail companies, rivaling the Thanksgiving holiday’s Black Friday as a driver of sales.
Source: Reuters Business News
Oil prices fall on fading storm impact, Chinese economic data
Oil prices edged lower on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook.
Source: Reuters Business News