The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Check out the companies making headlines after the bell:
Shares of Beyond Meat fell 13% in after-hours trading after the company announced a secondary offering of 3.25 million shares. The news came after mixed second quarter earnings report, in which the company raised its full-year outlook.
Beyond Meat reported a second-quarter loss per share of 24 cents on revenue of $67.3 million. Analysts had expected a loss per share of 8 cents on revenue of $52.7 million, according to Refinitiv. Beyond increased its fiscal 2019 outlook for revenue and now expects net sales to reach $240 million, up from the $210 million Beyond Meat forecasted in May, which did not include sales from restaurants that were only testing the product.
This quarter Tim Horton's brought Beyond Meat's imitation sausage and burgers to its stores in Canada, and Blue Apron said it will add the plant-based products to its menus.
AK Steel jumped 3.5% in extended trading despite the steel producer missing Wall Street's estimates for second-quarter revenue. The company reported revenue of $1.68 billion, versus the $1.74 billion analysts polled by Refinitiv were expecting. In a statement, CEO Roger Newport noted a "dramatic decline in carbon spot market pricing from a year ago." The company also adjusted its fiscal year earnings guidance to between 37 cents and 44 cents, above the 34 cents analysts had expected.
Cognex fell 9% after the machine vision systems company released its second-quarter earnings and lowered its third-quarter revenue guidance. The company reported earnings per share of 28 cents on revenue of $199 million, versus the earnings per share of 23 cents and revenue of $195 million analysts surveyed by Refinitiv had expected. The company adjusted its third-quarter revenue guidance to between $175 million and $185 million, below the $218 million analysts had estimated. The company noted weakness in consumer electronics, as well as in Europe and Asia.