Yahoo Finance Morning Brief: US-China hike tariffs, trade war escalates
Monday, September 24, 2018
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What to watch today
As far as market-moving economic data is concerned, there isn’t much scheduled. At 10 a.m. ET, we’ll get the September Dallas Fed manufacturing activity index. Economists estimate the index rose to 31.0 from 30.9 a month ago.
In the week ahead, the big event for investors will be the Federal Reserve’s latest policy meeting, set to begin Tuesday with a monetary policy statement slated for release at 2:00 p.m. ET on Wednesday. This will be followed by a press conference with Fed Chair Jerome Powell at 2:30 p.m. ET. Investors widely expect the Fed to raise its benchmark interest rate target range by 25 basis points to a new band of 2%-2.25%, which would set the target Fed Funds rate at around 2.13%, the highest since April 2008.
Top news
(AP Photo/Andy Wong)
US, China hike tariffs as trade row intensifies: U.S. regulators went ahead with a planned 10% tax on a $200 billion list of 5,745 Chinese imports including bicycles and furniture. China’s customs agency said it responded at noon by beginning to collect taxes of 5% or 10% on a $60 billion list of 5,207 American goods, from honey to industrial chemicals. [AP]
Sky’s shares jump after Comcast wins auction: Shares in Sky jumped 9% on Monday to within touching distance of the 17.28 pounds a share Comcast (CMCSA) bid to beat Twenty-First Century Fox (FOXA) in the battle for Europe’s biggest pay-TV group.The U.S. cable-TV giant offered $40 billion in a rare weekend auction that brought to an end its battle against Rupert Murdoch’s Fox and Walt Disney Co. (DIS). [Reuters]
Canada’s Barrick Gold to buy Randgold Resources: Canada’s Barrick Gold (ABX) has agreed to buy Randgold Resources Ltd (RRS) in a $18.3 billion share deal to create the world’s largest gold company by value and output in an industry under investor pressure to put capital to good use. [Reuters]
Dell to interview banks for IPO: Dell Technologies Inc. is exploring the possibility of launching a traditional IPO instead of going public through a proposed acquisition that has met resistance from several investors. The PC and storage giant plans to interview several banks for underwriting roles in an IPO this week. [The Wall Street Journal]
WPP considers merging some ad properties: WPP PLC’s (WPP) new chief executive is preparing to consolidate some of the advertising giant’s major properties, as traditional agencies struggle to keep pace with the industry’s digital shift. Marquee ad agencies that buoyed WPP in earlier decades—including Young & Rubicam, Ogilvy, J. Walter Thompson and Grey—are generally growing more slowly than WPP’s digital and media buying operations. [The Wall Street Journal]
Venmo looks to new leader: PayPal Holdings Inc. (PYPL) is replacing the executive in charge of its popular Venmo service for the second time in two years, putting its leadership in flux at a time when the company is looking to transform it into a money-maker. [The Wall Street Journal]
Yahoo Finance Originals
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How to know which iPhone is right for you
PayPal CEO: The great recession ‘gravely influenced’ the way millennials view money
Super Bowl champion Martellus Bennett doesn’t want to be remembered as an NFL player
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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.
