Financial News

Tuesday, November 19th
November 18, 2019
AP-NC Newswatch
November 18, 2019
Financial News

 

 

 

US stocks lower … Yogurt loses some popularity … Kylie Jenner to sale stake in Coty beauty brand

 

NEW YORK (AP) – U.S. stocks moved lower in early trading Monday as investors assessed mixed signals from the latest round of trade negotiations between the U.S. and China. At 10:39 a.m. Eastern Time, the S&P 500 was down 6 points, to 3,114. The Dow was down 26 points, to 27,979. And the Nasdaq was down 24 points, to 8,517. Technology stocks made some of the biggest declines in the early going. Oil prices dipped 1% and weighed on energy stocks. Bond prices rose. The yield on the 10-year Treasury fell to 1.81% from 1.83% late Friday.

 

NEW YORK (AP) – Reality TV star Kylie Jenner is selling a stake of her beauty brand to Coty, the owner of CoverGirl makeup. Coty Inc. will pay $600 million for a 51% stake in Kylie Cosmetics, valuing it at about $1.2 billion. Coty says it plans to launch more products under the Kylie brand and sell them in more countries around the world. Coty says Jenner will still be the face of the brand and be involved in creating new products.

 

UNDATED (AP) – U.S. yogurt sales are in a multiyear slump and yogurt companies are scrambling to reverse the trend. Market research company Mintel says U.S. yogurt sales peaked at nearly $9 billion in 2015. They’re expected to fall to $8.2 billion this year and fall another 10% by 2024. Yogurt companies say new products can reverse the trend. Today, Chobani announced new oat-based yogurts.

 

UNDATED (AP) – T-Mobile says Mike Sievert will become CEO in May, following the end of John Legere’s contract. The company says the move is part of its succession plan. Legere will remain with the company as a board member. Sievert currently serves as president, chief operating officer and a director. T-Mobile is in the midst of combining with Spring in a $26.5 billion deal. Federal regulators have approved the deal, but attorneys general of 15 states and the District of Columbia aim to block it, saying it will raise prices for consumers. A trial is to start in December.

 

LONDON (AP) – British Prime Minister Boris Johnson is facing new questions about his relationship with an American businesswoman who allegedly received favors and public funds while Johnson was the mayor of London. A major speech by Johnson to business leaders ahead of Britain’s Dec. 12 election has been overshadowed by tech entrepreneur Jennifer Arcuri, who accused the prime minister of discarding her “like some fleeting one-night stand” amid a media storm about their relationship.

 

 

AP-WF-11-18-19 1541GMT