USMCA is in the balance
The fate of the updated USMCA trade agreement was cast in doubt by President Trump's Mexican tariff threat, making it unlikely that the new version of NAFTA will be ratified this year. Both Canada and Mexico have signaled that they are ready to start the approval process, but Mexico can now feel it is "forced to oppose" despite being the largest trading partner in the United States. US officials have said that 80,000 illegal immigrants are being held in custody, with an average of 4,500 daily arrivals, overpowering the border patrol policy's ability to handle them.
More commercial war blue
Investment mood was also condemned by factory activity data from China, which posted a more than expected contraction during May of the month among home markets and ongoing US trading. The official PMI production fell to 49.4 from 50.1
Press on Italy
Italy is facing a deadline today to explain its increasing debt burden, but the country is set to push back, zero inflation and global trade tensions for its rising debt. As a consequence, the EU Commission will consider launching a large deficit, which is likely to be proposed to the college in 28 commissioners on 5 June. Deputy Minister Matteo Salvini has also told his Five Star party that he is ready to see the governing coalition collapse if he cannot push through tax plans.
Billion Dollar Loss
It is not so often that a company reports quarterly quarterly losses and also sees its shares up 2% . "Our story is simple. We are the global player," said Uber (NYSE: UBER), CEO Dara Khosrowshahi, to analysts on a call after the first earnings release since IPO. "Our job is to grow rapidly in scale and more effectively for a long time. , a long time. "A statement that Uber will cut down on customer promotions and that marketing expenses as a share of revenue would slow down soon was also well received.
Boost for Amazon?
Like Sprint (NYSE: S) and T-Mobile NASDAQ: TMUS) seems to offload Boost Mobile to get its $ 26B merger over the regulatory line, Amazon (NASDAQ: AMZN) has emerged as an interested buyer of the prepaid service. The deal, which could bring up to $ 3B, would allow it to use New T-Mobile's wireless network for at least six years, reports Reuters, Amazon has a long history of exploring new ventures, and has already built experience by offering phone calls through its Echo Connect product.  Private ownership p
The Trump administration puts an end to a plan to return mortgage finance giants Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC) to private shareholders, WSJ reports. The proposal is expected to include a version of what is called "redesign and release", which will ensure that companies have sufficient capital to absorb loan losses in a future housing decline and thus avoid demanding another taxpayer.
WarnerMedia (NYSE: T), Sony Pictures (NYSE: SNE) and NBCUniversal (NASDAQ: CMCSA), if executed, companies could return to a similar status to how they operated before the financial crisis . has joined a growing number of large studios – including Disney (NYSE: DIS) and Netflix (NASDAQ: NFLX) – who threaten to withdraw their products from Georgia, if the state's fetal heartbeat comes into effect. Known as the Hollywood of the South or Y & # 39; allywood, Georgia has in recent years become the country's third largest production hub for Los Angeles and New York, thanks to tax credits of up to 30%, it offers to film and television production companies. In 2018, the state reported about 92,000 jobs and a financial impact of more than $ 9B from film productions there.