Good morning! Here’s what you need to know in markets on Monday.
1. Oil prices fell slightly on Monday as the start to U.S. sanctions against Iran’s fuel exports was softened by waivers that will allow some countries to still import Iranian crude, at least temporarily. In a government-organized rally In Tehran, Iranians chanted “Death to America” ahead of the reimposition of US sanctions on its oil sector. Brent crude futures fell 0.2% to $72.66 per barrel at 7:37 a.m. in London on Monday.
2. US President Donald Trump says his administration is looking at anti-trust proceedings against Amazon, Facebook and Google. Trump said the European Union’s $5 billion fine against Google helped convince the president to consider pursuing regulation.
3. A pro-Brexit lawmaker in Prime Minister Theresa May’s Conservative Party said that the U.K. must leave the European Union’s customs union. “If we’re going to regulate our own economy, if we’re going to have our own independent trade policy, if we’re going to be a normal, independent country which is what I understood the referendum to have decided, then we need to be out of the customs union,” MP Steve Baker told BBC radio.
4. Warren Buffett’s Berkshire Hathaway bought back nearly $1 billion of stock. The company said its quarterly operating profit nearly doubled and benefited from lower taxes.
5. SoftBank CEO Masayoshi Son will face questions on Monday about the Japanese company’s dependence on Saudi Arabia, in his first public appearance since the murder of a journalist by Saudi security forces sparked global outrage.
6. A Chinese warship reportedly threatened a US Navy destroyer in the South China Sea. The transcript of the radio exchange suggests that the Chinese naval vessel threatened the US destroyer, warning that it would “suffer consequences.”
7. The sons of murdered journalist Jamal Khashoggi gave an emotional interview, saying they hoped his death was “peaceful.” They also called on Saudi Arabia to release his body so he could be properly buried.
8. Amazon has reportedly closed in on Northern Virginia for its second headquarters. The company is near to announcing the location of its second headquarters, known as HQ2.
9. Brazil’s far-right president Jair Bolsonaro has declared war on “fake news” media. Bolsonaro has threatened to cut funding for ads to adversarial media groups.
10. An environmental group says new evidence points to China’s use of banned industrial gas that is destroying the planet. The harmful gas is supposed to be banned worldwide under the Montreal Protocol, which is a global agreement to protect the ozone layer.