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Daimler's workforce in Germany will bear the brunt of 1.4 billion euros ($1.5 billion) in cost cuts planned by the end of 2022, the head of the carmaker's works council told a newspaper.

European shares opened higher on Tuesday, attempting to claw their way back from three days of falls though the mood remained gloomy after U.S. President Donald Trump showed he was ready to open new trade war fronts despite signs of economic damage.

U.S. President Donald Trump said a trade agreement with China might have to wait until after the U.S. presidential election in November 2020, denting hopes of a quick resolution to the dispute which has weighed on the world economy.

France and the European Union are ready to retaliate if U.S. President Donald Trump acts on a threat to impose duties of up to 100% on $2.4 billion in imports of champagne, handbags and other French products, the French government said on Tuesday.

New tariff threats by the United States on certain French products are bad for the global economy, and France is counting upon the solidarity of its European partners as it looks to challenge the move, the French finance minister said.

The Kremlin said on Tuesday it did not think it was possible to stop free market competition after the U.S. Federal Bureau of Investigation said it considered any mobile app developed in Russia to be a "potential counterintelligence threat".

Oil prices edged higher on rising expectations of deeper output cuts when OPEC and its allies meet this week, although scepticism about a deal among some analysts limited the gains.

U.S. stock index futures slipped on Tuesday after President Donald Trump said a trade deal with China might have to wait until after the U.S. presidential election in November 2020, sparking fears of a delay in resolving the tariff dispute.

Oil prices steadied around $61 a barrel on Tuesday as rising expectations of deeper output cuts from OPEC and its allies were countered by a potential delay to a U.S.-China trade agreement until after the next U.S. presidential election.

U.S. President Donald Trump said on Tuesday he was sure "a minor dispute" with France on trade could be worked out after he threatened to impose duties of up to 100% on imports of champagne, handbags and other French products.

Forbes | Ron Shevlin | Dec 2, 2019 OBSERVATIONS FROM THE FINTECH SNARK TANK It’s that time of the year when banking industry pundits turn their thoughts to the top trends of the upcoming year. I’d like to take a different tact and posit the top debates the industry will wrestle with in the coming

French wine and spirits trade body FEVS called on President Emmanuel Macron to protect it against a U.S. government threat to impose tariffs of up to 100% on a range of French products including sparkling wines such as Champagne.

The European Union will seek immediate talks with the United States on how to solve a dispute over France's new digital service tax, the EU delegation to the United States said on Tuesday.

U.S. President Donald Trump's administration threatened to impose duties of up to 100% on French imports worth $2.4 billion after it concluded a tax on digital services imposed by Paris would be "unusually burdensome" for U.S. technology companies.

Nike's valuation provides a map for Lululemon's future, according to Cowen, which could drive the company's valuation to $40 billion.