Good morning! Here’s what you need to know in markets on Tuesday.
1. Asian shares were subdued on Tuesday as a relief rally sparked by a truce in the U.S.-China trade war gave way to doubts on whether the two countries are able to resolve their differences before a 90-day deadline.
2. There is a good deal of confusion in the White House. Trump’s big ticket G20 trade agreement with China is getting pretty vague, and the White House scrambled to issue a correction.
3. The French government is preparing to suspend fuel tax increases,possibly by Tuesday.The move comes after four people died and hundreds were arrested during riots in Paris. What started out three weeks ago as a protest against fuel prices has escalated as “Yellow Vest” aligned protests spring up all over France.
4. Oil prices rose on Tuesday, extending gains from the previous day amid expected OPEC-led supply cuts and reduction in Canadian output. The 90-day truce in the US-China trade dispute was also still supporting markets, traders said.
5. Beijing may be “testing Tokyo’s resolve.” The South China Morning Posts says China could be probing Tokyo for signs of weakness with its latest incursions into the disputed waters.
6. Tokyo prosecutors plan to arrest Carlos Ghosn on a fresh claim of understating his income, the Sankei newspaper reported on Tuesday, in a move that could keep the former chairman of Nissan Motor Co in detention until the end of the year.
7. Leaked documents reveal Tesla once had a roaring roll out plan for its Model Y. Internal documents show Tesla planned a production ramp of 7,000 Model SUVs a week at its Gigafactory in Nevada by December 2020, and 5,000 Model Ys a week at its China Gigafactory by February 2021.
8. Special Counsel Robert Mueller is reportedly about to drop some big Russia news.Mueller’s office has told defence lawyers in recent weeks that it is “tying up loose ends” in the ongoing investigation into Russia’s interference in the 2016 election
9. David Attenborough delivered a stark warning about the future of our planet. The natural historian told a UN climate conference that the world needs to act on climate change or watch civilisation collapse.
10. Uber has a cunning plan to take over the global bike and scooter empire. The giant plans to funnel its own ubiquitous brand into a one-stop global transportation app.
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