2. China plans to reduce the average tariff rate on imports from most of its trading partners as soon as October, Bloomberg News reported on Thursday.In July, China cut import tariffs on almost 1,500 consumer products ranging from cosmetics to home appliances as part of efforts to open up its economy, the world’s second biggest.
3. Volkswagen will end almost of all its operations in Iran, Bloomberg reported on Wednesday, citing a U.S. official who led the discussions with the carmaker.The Trump administration persuaded Volkswagen to comply with U.S. sanctions on Iran, Bloomberg said.
4. Luxury British carmaker Aston Martin said on Thursday it was seeking a valuation of up to 5.07 billion pounds ($6.7 billion) as it set a price range of £17.50 to £22.50 per share for its stock market flotation.The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an IPO, the first British carmaker to do so for decades.
5. Nestle said on Thursday it was exploring strategic options for its skin health business, saying it believes the unit might be better off outside of the Swiss food maker.Following a strategic review earlier this year, Nestle’s board decided to increase the company’s focus on food, drinks and nutritional health products.
6.The CEO of British American Tobacco Nicandro Durante is preparing to step down in the wake of a sector-wide share price decline prompted by investor concerns over slowing sales growth, Sky News reported on Wednesday.Durante is expected to leave the company at some point in the next year and likely to be replaced by an internal candidate, Sky News said, citing sources.
7. Amazon.com Inc is considering a plan to open as many as 3,000 new Amazon Go cashierless stores in the next few years, Bloomberg reported.The Amazon Go store, which has no cashiers and allows shoppers to buy things with the help of a smartphone app, is widely seen as a concept that can alter brick-and-mortar retail.
8. Coinbase has hired finance executive Brian Brooks as chief legal officer, it said on Wednesday, as the cryptocurrency exchange grows its compliance and government affairs capabilities amid intensifying regulatory scrutiny of the nascent market.Brooks was most recently executive vice president, general counsel and corporate secretary of Fannie Mae, the U.S. mortgage finance company.
9.Hard pressed to quash allegations that its popular “fear gauge” is being manipulated, Cboe Global Markets is turning to artificial intelligence to help put those concerns to rest.In its latest effort to police trading tied to the volatility index, known as the VIX, the Cboe is working with FINRA, its regulatory services provider, to develop machine learning techniques to tell whether market conditions surrounding the VIX settlement are potentially anomalous, the exchange told Reuters.
10.Jeffrey Gundlach, chief executive officer of DoubleLine Capital, on Wednesday said bond prices across the U.S. Treasury yield curve could fall if the 30-year yield closes above 3.25 percent twice in a row.The yield on the 10-year Treasury note and 30-year Treasury bond both hit four-month highs early Wednesday. The 10-year yield was currently trading around 3.08% and the 30-year around 3.22 %.
10 Things Before European Markets
10 Things Before European Markets Open