Here is what you need to know.
- The Trump administration threatens the EU with tariffs. The White House on Tuesday said it was looking into tariffs on $US11 billion of imports from the European Union in response to subsidies the EU gives to the Boeing rival Airbus.
- China may stop bitcoin mining. China’s National Development and Reform Commission’s revised list of activities that should be phased out because they do not adhere to laws and regulations includes cryptocurrency mining, Reuters says. The NDRC is seeking public opinions on the matter through May 7.
- A stock picker who is beating 92% of his peers lifts the curtain on his success. Jim Tierney, the chief investment officer of the $US522 million AB Concentrated Growth Fund, shares his investment thesis on five of his longest-held companies.
- Carlos Ghosn is back in jail. “If you are listening to me through this video today, it means that I was not able to make the press conference I planned for April 11,” the former Nissan-Renault-Mitsubishi executive said in a video that was prerecorded before he was arrested in a predawn raid on Tuesday.
- Google beats Amazon to delivery drones. The Alphabet startup Wing has received approval from Australia’s Civil Aviation Safety Authority to launch a delivery drone in the capital of Canberra.
- Societe Generale is eliminating 1,600 jobs. Most of the cuts will occur in the corporate and investment-banking arm, the bank announced Tuesday.
- Here’s where Wall Street stands on Tesla. Tesla has long been a battleground stock – here’s where analysts at major Wall Street banks stand on the electric-car maker.
- Stock markets around the world are mostly higher. Hong Kong’s Hang Seng (+0.47%) led the gains in Asia, and Britain’s FTSE (+0.29%) was out front in Europe. The S&P 500 is set to open down 0.11% near 2,893.
- Earnings reports trickle out. Levi Strauss will report after markets close.
- US economic data is light. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.51%.
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