Morning Brief: White House delays tariffs
Tuesday, May 1, 2018
What to watch today
The first day of May will bring investors the biggest earnings event of the week — quarterly results from Apple (AAPL). After the market close on Tuesday, the world’s largest company by market cap will report results for its fiscal second quarter, with much of the focus likely to be on iPhone sales and whether demand for the company’s flagship device is flagging. As Yahoo Finance’s Dan Howley noted in a preview of the company’s report, concerns around Apple’s future have bubbled up in the last few weeks after some of its suppliers reported weak guidance while questions still linger around whether Apple made the right move by debuting its flagship iPhone X alongside an updated, but less souped-up, iPhone 8.
Top news
White House delays tariffs on EU, Canada, and Mexico: The White House said it would postpone a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada, and Mexico for 30 days, avoiding the potential for a trade battle with Europe as the U.S. prepares for tense trade talks in China this week. [Reuters]
Report: Mueller gives list of questions to Trump’s lawyers: Special counsel Robert Mueller has given a list of almost four dozen questions to lawyers for President Donald Trump as part of his investigation into Russian meddling in the 2016 election and whether Trump obstructed justice. The questions range from Trump’s motivations for firing FBI Director James Comey a year ago to contacts Trump’s campaign had with Russians. [AP]
WhatsApp CEO Jan Koum to leave Facebook amid privacy flap: Koum didn’t elaborate on his reasons for leaving, other than to say it was time to “move on” so he could spend more time “collecting rare air-cooled Porsches, working on my cars and playing ultimate frisbee.” [AP]
CEO caught on TV singing ‘We’re in the Money’ after takeover: The CEO of British supermarket chain Sainsbury’s has apologized after being caught on camera singing ‘We’re in the Money’ following the takeover of Walmart’s (WMT) unit Asda. [AP]
China’s HNA drops bid to buy Scaramucci’s SkyBridge due to regulatory hold-up: Chinese conglomerate HNA Group has dropped its bid for most of SkyBridge Capital, a hedge fund investment firm founded by U.S. President Donald Trump’s former aide Anthony Scaramucci, as the deal was still stuck with U.S. regulators after more than a year. [Reuters]
Mnuchin says U.S. doesn’t seek to put Rusal out of business: The U.S. isn’t seeking to put Russian aluminum giant United Co. Rusal out of business by sanctioning the company, Treasury Secretary Steven Mnuchin said, but its majority owner Oleg Deripaska must reduce his stake to less than 50%. [Bloomberg]
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