Movers & Shakers: July 8, 2019
Stocks are trading lower to start the week. A strong June jobs report on Friday is dampening expectations that the Federal Reserve will move quickly to lower interest rates.
Federal approval for Sprint and T-Mobile's $26.5 billion merger likely coming this week. The Department of Justice could certify the deal as soon as Tuesday, as reported by FOX Business, contingent on the purchase of spectrum and other assets from the two firms by Dish Network.
Boeing loses order to Airbus over Max scandal. Saudi Arabian budget airline Flyadeal is terminating a prior order for the Max jet, instead opting for the Airbus A320neo narrow-body jet, a direct rival to Boeing’s update to the popular 737 airliner that is currently grounded globally after two fatal crashes.
Deutsche Bank moves forward with a major overhaul. The German lender is shedding 18,000 jobs as it withdraws from the global trading business and looks to cut $17 billion in costs by 2022 after years of scandals.
Starbucks is in hot water again. The coffee chain is facing criticism after a group of police officers were asked to leave an Arizona location due to a customer complaint. Last year, the Seattle-based firm closed all of its stores for racial bias training after two black men were arrested at a Philadelphia location.
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