“When you talk, you are telling people what you already know. When you listen, however, that’s how you learn something new.” — Dalai Lama

1. Deutsche Bank Subpoenaed Over Trump Business — Congressional investigators have subpoenaed Deutsche Bank (NYSE:DB) as Democrats step up their probes into President Trump and his longtime lender. The subpoenas from the U.S. House of Representatives Intelligence and Financial Services committees mark an escalation of Democratic-led probes into Trump’s business dealings. The committees also subpoenaed multiple other financial institutions, including JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) as part of their investigations.
2. U.S.-China Trade Talks Near Final Round — U.S. Treasury Secretary Steven Mnuchin said a U.S.-China trade agreement would go “way beyond” previous efforts to open China’s markets to American companies and the two sides were “getting close to the final round of concluding issues.” “This is way beyond anything that looked like a bilateral investment treaty,” he added. U.S. negotiators have also reportedly tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing.
3. U.S., Turkey Deadlock over Russia Missile Dispute Continues — the U.S. and Turkey have failed to break their impasse over Turkey’s plan to deploy a Russian air defense system the Pentagon says could jeopardize U.S. fighter aircraft including Lockheed Martin’s (NYSE:LMT) F-35, which Turkish manufacturers helped build. Turkish officials repeated that the deal with Russia has been signed and is final, while the U.S. has threatened to impose sanctions under legislation that allows the punishment of entities doing business with Russia, and to expel Turkey from the F-35 program. The first batch of Russian S-400 missiles may be delivered as early as June.
4. Qualcomm, Apple Drop All Litigation — Qualcomm (NASDAQ:QCOM) and Apple (NASDAQ:AAPL) agreed to dismiss all litigation worldwide in a settlement that involves Apple paying QCOM. The companies also reached a six-year license agreement, effective April 1, with two one-year option periods plus a multiyear chipset supply agreement. In a regulatory filing Qualcomm says it expects incremental EPS of about $2 as product shipments ramp up.

The week ahead — Economic data from Econoday.com:

This entry was posted on Monday, April 22nd, 2019 at 3:30 pm and is filed under Weekly Summary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.