Ten states led by New York and California filed a lawsuit on Tuesday to stop T-Mobile US Inc's $26 billion purchase of Sprint Corp, warning that consumer prices will jump due to reduced competition.
Amazon.com Inc said on Tuesday it would end its U.S. restaurant food delivery service on June 24, giving in to intense competition from GrubHub Inc, DoorDash, Uber Technologies' Uber Eats services.
Wall Street's indexes lost some ground on Tuesday afternoon and U.S. Treasury yields dipped as worries about the U.S.-China trade war flared up and euphoria following Friday's U.S.-Mexico deal faded.
U.S. President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy while China vowed a tough response if the United States insists on escalating trade tensions amid ongoing negotiations.
U.S. stocks edged lower in late afternoon trading on Tuesday, as investors paused following a run of gains tied to optimism over easing trade tensions and the prospect of an interest rate cut by the Federal Reserve.
Shares of Beyond Meat Inc fell as much as 22% on Tuesday after one of the stock's lead underwriters, J.P. Morgan, downgraded it, saying the exponential growth expected from the plant-based burger was now priced in.
President Donald Trump said on Tuesday that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees again to four or five "major points" that Trump did not specify.
White House economic adviser Larry Kudlow said the U.S. economy will likely still achieve a 3% pace of growth this year even without a trade deal with China.
Uber Technologies Chief Executive Dara Khosrowshahi said on Tuesday the company's initial public offering last month was hurt by U.S. trade tensions even as he downplayed recent volatility in the stock price.
German prosecutors said on Tuesday they were investigating the chairman of Volkswagen's powerful works council as part of a inquiry into whether some of its members were paid excessively, turning him from a witness into a suspect.
