The President signed off on a phase-one trade deal with China, a move that averts the introduction of further tariffs on the Asian nation that were due to come into effect on Sunday. While the terms of the deal have been agreed, the legal text has not yet been formalized, according to people familiar with the matter. There has been no official confirmation from the White House that a deal has been done either, while Chinese media suggest there still may be more work to do. (Bloomberg)
Shares of Hertz and Avis dropped sharply on Thursday after ride-sharing company Lyft introduced a car rental service allowing customers to rent a vehicle without having to go to the counter. The service that has no mileage limits, cars can be taken for a day or up to two weeks, and 22 will be set minimum age for a renter. Lyft will also charge the "local market rate" for gas and provide renters with two $20 ride credits to cover the cost of taking a Lyft to and from the rental points. (SA)
Boris Johnson has won a crushing victory in the UK general election, paving the way for Britain to leave the EU by the end of next month. Mr Johnson’s Conservative party won its biggest majority in a general election since Margaret Thatcher’s victory in 1987, as traditional Labour voters in the industrial heartlands of the Midlands and north abandoned Jeremy Corbyn’s Labour party. The result breaks years of deadlock at Westminster and gives Mr Johnson a mandate to push ahead with Brexit and take the UK out of the European Union by January 31. (FT)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.