Beyond Meat breakfast sandwiches are now available at almost 4,000 Tim Hortons restaurants across Canada after testing at select stores last month.
Oil demand is shriveling as the trade war between the U.S. and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley.
Boeing Co.’s 737 Max aircraft, grounded since March after two fatal crashes in five months, will be back in the air by December, according to a top Federal Aviation Administration safety official.
The faux meat-maker was downgraded to market perform from outperform at Sanford C. Bernstein & Co. Inc., losing its last bullish analyst rating after a stratospheric gain of just over 400% since the company listed last month. Beyond Meat shares were down 2.9% at 4:14 a.m. in New York trading before U.S exchanges open. “The downgrade is driven by valuation considerations as the stock has traded in a highly volatile manner since its IPO likely due to its limited public float,” analyst Alexia Howard wrote in a note. While Beyond Meat is one of the frontrunners in the still-growing plant-based meat category, there is limited upside left in the shares, she said. Howard’s downgrade follows JPMorgan Chase & Co.’s Ken Goldman cutting his rating on Tuesday, which sent shares tumbling 25%.
Boris Johnson appealed to Tories to make him the next U.K. prime minister and insisted he can be trusted to run the country, in the face of critical questions over his record. He said he doesn’t want a no-deal Brexit but stressed it’s vital for the U.K. to leave the European Union in October with or without a deal.
Mario Draghi said joining the euro has improved the quality of institutions in eastern European members, as opposed to “more mixed” results in countries that have kept their own currencies.
China’s central bank is making it clear to yuan bears that short-term declines are no sure thing, especially in the run up to a crucial meeting at the end of this month. The People’s Bank of China set its daily reference rate for the currency at higher than market watchers expected for a 10th straight day on Wednesday, the longest run since September.
China’s inflation pressure continued rising in May, as supply shocks pushed up food costs. The consumer price index rose 2.7% last month from a year earlier, while factory prices gained 0.6%, according to the National Bureau of Statistics.