Reuters Before the Bell: U.S.-China trade setback stokes recession fears; stocks slide

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Monday, May 13, 2019

U.S.-China trade setback stokes recession fears; stocks slide

Global equities fell on Monday after their worst week of 2019 as hopes of an imminent U.S.-China trade deal were crushed, raising fears of a fresh round of tit-for-tat tariffs.

Renault diesel allegations upheld by court study: report

A French probe into alleged emissions cheating by Renault is a step closer to possible court action, Le Monde reported on Monday, after a technical report confirmed that some of its diesel engines were configured to emit more pollutants outside official test conditions.

Futures point to steep losses at open as trade tensions worsen

U.S. stock index futures pointed to sharp declines at the open on Monday, as a standoff between the United States and China over their prolonged trade dispute heightened fears of a retaliatory war that could push the U.S. economy into recession.

China says will 'never surrender' as U.S. trade row heats up

China will never surrender to external pressure, the government said on Monday, though stopped short of announcing how Beijing will hit back after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute.

Trump warns China not to retaliate against tariff hike

U.S. President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he imposed last week and said that the nation "will be hurt very badly if you don't make a deal."

Exclusive: Scania signs Northvolt battery deal, in talks on equity

Volkswagen truck brand Scania has signed a battery supply deal with Sweden's Northvolt and is in talks about making an equity investment as part of the startup's efforts to raise 1.5 billion euros, Scania's chief executive said.

Exclusive: Impossible Foods raises $300 million with investors eager for bite of meatless burgers

Impossible Foods, which makes a meatless plant-based burger and is backed by celebrities like Serena Williams and Katy Perry, said on Monday it has raised $300 million in the latest round of funding ahead of a possible initial public offering.

Bar rises for shale takeovers as Chevron bows out of Anadarko fight

Chevron Chief Executive Michael Wirth's decision to opt out of a bidding war for Anadarko Petroleum Corp has raised the bar for deals, and dampened expectations that oil majors will drive a new wave of consolidation in U.S. shale.

Exclusive: Amazon rolls out machines that pack orders and replace jobs

Amazon.com Inc is rolling out machines to automate a job held by thousands of its workers: boxing up customer orders.

Chinese group to delay bailout funding for Apple supplier Japan Display

A Chinese-Taiwanese group is delaying an up to 80 billion yen ($729.33 million) investment planned as part of a rescue deal for Apple Inc supplier Japan Display as it wants to reassess the target's prospects, the Japanese firm said.

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