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Morning Brief: US-China trade tensions heat up

Monday, September 16, 2018

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What to watch today

Investors and traders will be digesting a Wall Street Journal report from Saturday that the Trump administration plans to announce new tariffs on $200 billion worth of imports from China. That was followed by another report that China would decline to participate in trade talks if such tariffs were implemented. The heightened level of uncertainty is likely to be unwelcome by market participants.

 

Top news

(AP Photo/Mark Lennihan, File)

Meredith to sell Time to Marc and Lynne Benioff: Meredith Corp. (MDP) said  it entered into a definitive agreement to sell the Time media brand to Marc and Lynne Benioff for $190 million in cash. The U.S. media company said the deal was unrelated to Salesforce.com Inc. (CRM), where Marc Benioff is chairman, co-chief executive and founder. [Reuters]

Amazon probes report about employee bribesAmazon.com Inc. (AMZN) is conducting an investigation into employees that are said to offer sellers on its e-commerce program with an advantage by providing confidential internal data and other services in exchange for a fee. [Bloomberg]

China’s stocks drop to lowest level in nearly 4 years: China’s sinking stock market reached an unwelcome milestone, with the Shanghai Composite Index closing at the lowest level since 2014, before a stock boom that turned into a $5 trillion bust. [Bloomberg]

Tesla to bring most collision repairs in-houseTesla Inc. (TSLA) is bringing most collision repairs in-house, Chief Executive Officer Elon Musk said in a tweet on Sunday, saying owners of the vehicles were experiencing excessive wait times at body shops. [Reuters]

Florence likely to expose gaps in flood insuranceThe number of Americans with flood insurance is on the rise, yet Hurricane Florence is likely to make it painfully clear that too many homeowners in the Carolinas and other vulnerable regions remain unprotected. [AP]

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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.