Wall Street opens higher as trade war put 'on hold'
Wall Street was set to open higher on Monday after the United States and China put a potential trade war "on hold" to work on a wider agreement, and as the announcement of US$27.6 billion worth of merger deals lifted sentiment.
BEIJING: China’s commercial banks sharply cut their holdings of corporate bonds last month in response to a heavy supply of local government paper, even as recent easing measures announced by the central bank encourage lenders to buy more company notes.
SÃO PAULO/CHICAGO (Aug 17): Tyson Foods Inc, the largest U.S. meat producer, agreed to buy chicken-nugget maker Keystone Foods LLC for about US$2.5 billion, according to a person familiar with the matter.
Brazil’s Marfrig Global Foods SA, which is selling Keystone, will retain a U.S. hamburger factory, said the person, who asked not to be identified because the transaction hasn’t been formally announced.