Stocks bounce back…New HQ…UK optimism
SINGAPORE (AP) – Global stocks recovered Tuesday, as strong economic data from the U.S. and China convinced investors that growth was on the uptick. Futures point to opening gains on Wall Street. Oil futures were mixed with speculation that OPEC would raise supply at a summit later this month. Benchmark U.S. crude oil rose above $65 a barrel in electronic trading on the New York Mercantile Exchange.
CHICAGO (AP) – Fast-food giant McDonald’s Corp. has unveiled its new headquarters in Chicago, a move company officials say is intended to attract top talent. McDonald’s had been based in a forested campus in the Chicago suburb of Oak Brook since the 1970s. CEO Steve Easterbrook said Monday the move gets McDonald’s closer to the competition and “closer to the trends that are shaping the future of a society in which we want to compete and succeed.” The second floor is occupied by Hamburger University, the company’s training program for managers.
LONDON (AP) – A closely monitored survey is indicating that the British economy has rebounded during the second quarter. In their monthly survey of the service sector, financial information company IHS Markit and the Chartered Institute of Procurement & Supply found growth running at a three-month high. Their so-called purchasing managers’ index for the sector – a broad gauge of business activity – came in at 54 in May, up from 52.8 the previous month. Anything above 50 indicates expansion.
WASHINGTON (AP) – President Donald Trump faced pushback Monday from Republican lawmakers, an influential GOP group and foreign leaders over his tough negotiations that are hitting China, Canada and Mexico with tariffs amid fears of a trade war. But the president defended his actions saying the U.S. would soon be in a stronger position with its top trading partners.
SEATTLE (AP) – Washington Attorney General Bob Ferguson on Monday sued Google and Facebook, saying the companies failed to maintain information about political advertising as required by state law. Washington law requires the companies to maintain information about buyers of political ads, the cost, how they pay for it, and the candidate or ballot measure at issue, according to the lawsuits, filed in King County Superior Court on Monday. The companies also must make that information available to the public upon request. Ferguson said neither Facebook nor Google did so.