Wall Street in the negative …Iran: US wish to halt Iran’s crude exports won’t come true … Weight Watchers changes its name
NEW YORK (AP) – Stocks are opening broadly lower on Wall Street after China reportedly rebuffed a plan for talks with the U.S. on resolving their trade dispute. Crude oil prices rose early Monday after OPEC decided against increasing its output further. At 10:26 a.m. Eastern Time, the S&P 500 fell 11 points, to 2,919. The Dow fell 119 points, to 26,625. The Nasdaq lost 30 points, to 7,957. Bond prices fell. The yield on the 10-year Treasury rose to 3.08 percent.
TEHRAN, Iran (AP) – Iran’s oil minister says the United States will not succeed in its plans to halt Iranian crude exports. Oil Minister Bijan Zanganeh says on the Iran’s oil ministry website that isn’t possible long-term, though Washington seems determined to cut Iran’s crude exports, “even if for just a month.” However, he did say that Seoul hasn’t bought any Iranian crude “for three continuous months.” President Donald Trump pulled the U.S. out of the nuclear deal between Iran and world powers in May.
NEW YORK (AP) – Weight Watchers is trimming its name to just two letters: WW. The company says it is renaming itself to focus more on overall wellness and not just dieting. Its app, for example, will offer tips and meditation and give out rewards for tracking meals and exercise. WW has seen a rise in subscribers, helped by a 2015 investment by Oprah Winfrey. The company says users will see changes to its app starting next week.
NEW YORK (AP) – Subscription radio company SiriusXM says it’s buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that’ll allow it to expand its service beyond cars and into homes and other mobile areas. SiriusXM Holdings Inc. has more than 36 million subscribers in North America, while Pandora has more than 70 million monthly active users. Both companies’ boards have approved the transaction, which is expected to close in 2019’s first quarter.
MILAN (AP) – An Italian newspaper reports that the Versace group is on the verge of announcing its sale to an American company for 2 billion euros ($2.4 billion). Corriere della Sera reports, without citing sources, that the announcement could come as early as Tuesday. Bloomberg and Reuters news agencies later reported the buyer would be fashion group Michael Kors, which has been trying to burnish its image and last year bought high-end shoemaker Jimmy Choo for $1.35 billion.