A freer-floating yuan could be a positive for China’s sovereign credit rating, agency Fitch said on Tuesday, by helping preserve its foreign exchange reserves and cushioning some of the negative effects of U.S. trade tariffs.
China firmly opposes a U.S. decision to label it a currency manipulator, its central bank said on Tuesday, adding that Beijing has not used and will not use the yuan to cope with trade frictions with the world's biggest economy.
India has increased the cost estimate of a giant refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, four sources said.
Goldman Sachs said it no longer expects the United States and China to agree on a deal to end their prolonged trade dispute before the November 2020 presidential election as policymakers from the world's largest economies are "taking a harder line".
Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near seven-month lows around $60 a barrel due to escalating trade tensions between China and the United States.
China's central bank said on Tuesday that Washington's decision to label Beijing as a currency manipulator would "severely damage international financial order and cause chaos in financial markets".
A rout in global markets moderated on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7-per-dollar led the United States to label Beijing a currency manipulator.
Novo Nordisk said on Tuesday it had bought a factory in North Carolina that would assist in manufacturing and packaging its new once-daily pill for treating type 2 diabetes.
J.C. Penney Co Inc has been struggling to reassure investors it can lure shoppers back into its stores amid fierce competition from online giants like Amazon.com Inc and discount retailers like TJX Cos Inc's Marshalls and T.J. Maxx chains.
J.C. Penney Co Inc late last year tapped Jill Soltau as chief executive officer to stem the decline in sales, the fifth leadership change at the department store operator in 15 years.
J.C. Penney Co Inc’s stock has plunged more than 70% over the past year and now trades under $1. Its first-quarter financial loss nearly doubled to $154 million.
Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank's new consumer business.
China said it will implement a special tax policy in the Shanghai Free Trade Zone, the country's State Council or cabinet said on Tuesday.
U.S. stock index futures signaled a bounce on Tuesday, as China stepped in to steady the yuan and investors sought beaten-down stocks, a day after Wall Street's main indexes racked up their steepest one-day percentage fall of the year.
A rout in global markets eased on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7 to the dollar led the United States to label Beijing a currency manipulator.