Stocks rising…Trump threatens new Chinese tariffs if Xi a G-20 no show…Salesforce buying Tableau Software
NEW YORK (AP) – Stocks are rising in morning trading on Wall Street as investors welcome a deal between the U.S. and Mexico that avoids the imposition of tariffs. General Motors gained 2.3% and Ford rose 2.5% after President Donald Trump suspended plans to impose tariffs on goods imported from Mexico, including autos. Last week, the S&P rose 4.4%, its best weekly performance in 2019.
WASHINGTON (AP) – President Donald Trump says if Chinese President Xi Jinping (shee jihn-peeng) doesn’t meet with him at the upcoming Group of 20 summit in Japan this month, additional tariffs will go into effect. But Trump says he expects Xi to attend. Trump made the threat during a call-in interview with CNBC to respond to the U.S. Chamber of Commerce, which had criticized Trump for using the threat of tariffs to force Mexico to do more to halt the flow of migrants at the U.S. southern border.
SAN FRANCISCO (AP) – Salesforce is buying Tableau Software in a $15.7 billion all-stock deal. Tableau uses self-service analytics to help people with any skill level work with data. Once the transaction closes, Tableau will operate independently and stay headquartered in Seattle. Shares of Tableau jumped 36% before the market opened today. Salesforce’s fell 3%.
DETROIT (AP) – Fiat Chrysler is in talks with Aurora, an autonomous vehicle tech company led by former executives from Google, Tesla and Uber, to produce self-driving commercial vehicles. FCA and Aurora have a deal to lay the groundwork for a partnership to use Aurora’s autonomous driving system globally in Ram and Fiat vehicles used for deliveries and other work duties. The partnership would not affect FCA’s deal to provide hybrid Chrysler minivans to Waymo.
TORONTO (AP) – Canadian Prime Minister Justin Trudeau (troo-DOH’) says Canada plans to ban single-use plastics as early as 2021. Trudeau says a science-based review will determine which products to ban. The Canadian government is considering items such as water bottles, plastic bags and straws. The European Parliament voted overwhelmingly back in March to also impose a wide-ranging ban on single-use plastics. Individual EU member states still need to vote on the measure for it to go into effect.