Reuters - Before the Bell

Click to View in Browser

Wednesday, July 3, 2019

Oil prices rise after U.S. crude stockpile drop

Oil prices rebounded slightly on Wednesday after a steep fall in the previous session as OPEC and its allies' decision to extend output cuts was not enough to counter investors' concerns about the slowing global economy.

Deutsche Bank restructuring to cost up to $5.6 billion: source

Deutsche Bank expects the cost of a major overhaul in the works to be up to 5 billion euros ($3.4-$5.6 billion), one person familiar with the matter said on Wednesday.

U.S. government staff told to treat Huawei as blacklisted

A senior U.S. official told the Commerce Department's enforcement staff this week that China's Huawei should still be treated as blacklisted, days after U.S. President Donald Trump sowed confusion with a vow to ease a ban on sales to the firm.

Walmart discussed selling clothing brands Bonobos and Modcloth: Vox

Walmart Inc has discussed the potential sale of its unprofitable clothing brands Bonobos and Modcloth with buyers, online news portal Vox reported https://www.vox.com/recode/2019/7/3/18716431/walmart-jet-marc-lore-modcloth-amazon-ecommerce-losses-online-sales on Wednesday, citing sources familiar with the matter.

UK markets watchdog proposes retail ban on crypto derivatives

Britain's markets watchdog is proposing banning the sale of derivatives based on crypto-assets to retail consumers from early 2020 due to what it considers the prevalence of market abuses.

HP, Dell, other tech firms plan to shift production out of China: Nikkei

Several major U.S.-based technology companies are planning to shift substantial production out of China, spurred by a bitter trade war between Washington and Beijing, the Nikkei reported on Wednesday, citing sources.

Police search Renault's headquarters near Paris as part of Ghosn probe

Police are searching Renault's corporate headquarters in Boulogne-Billancourt, which a judicial source said was related to an ongoing investigation into ex-Renault boss Carlos Ghosn and his use of Versailles for his 2016 wedding party.

Europe rallies as bond yields plough new lows

Action on world markets focused on bonds on Wednesday, with a fresh slide in benchmark debt yields on simmering global trade war and recession fears, central bank easing bets and ebbing oil prices.

EU leaders choose France's Lagarde for ECB after marathon summit

European Union leaders agreed on Tuesday to name France's Christine Lagarde as the new head of the European Central Bank and sealed a deal on filling the EU's other top four jobs after marathon talks that have exposed deep divisions in the bloc.

U.S. judge to slash $80 million Roundup jury verdict: court hearing

A U.S. judge on Tuesday said he would reduce an $80 million damage award against Bayer AG to $50 million or less in the case of a man who blamed his cancer on glyphosate-based weed killer Roundup.