Trade war escalates as Trump targets $200 billion in Chinese goods
President Trump moves to impose tariffs on an additional $200 billion of Chinese products in response to Beijing's retaliation for the initial $34 billion levy. Trade officials say the tariffs aim to curb intellectual property theft and forced transfer of trade secrets, with two months for public comment before any levy.
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Smucker Overhaul Targets Growth Amid Brand Selloffs
J M Smucker pursues faster growth by shedding lower demand brands including Pillsbury while expanding pet food and beverages. The $375 million sale of its U S baking business to Brynwood Partners comes as investors sour on the move. Shares remained down this year, trading near $109 after a $1.77 drop.
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Pfizer delays price hikes after Trump's public rebuke
Pfizer chief executive Ian Read said the company would delay price increases on dozens of drugs at least until early 2019 to allow Trump to push his health care blueprint. Pfizer moved to raise prices on 41 products on July 1, prompting a Trump tweet calling the firm “ashamed” and promising a response.
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Stocks rise as Pepsi boosts market amid trade tensions
U.S. stocks advanced for a fourth straight session led by food and consumer products firms energy utilities with Pepsi rallying for its strongest jump in nine years. The S&P 500 rose to 2793.84 Dow gained 143.07 Nasdaq up 3 while Russell 2000 slipped. In San Francisco a judge signaled Roundup cases can use expert testimony linking glyphosate to non Hodgkin s lymphoma despite weak causal evidence.
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