The daily business briefing: April 15, 2019

1. U.S. eases demand on China to cut industrial subsidies

U.S. negotiators have dialed back demands that China curb industrial subsidies as the world's two biggest economies make a push to end their trade war, Reuters reported Sunday, citing two sources briefed on the discussions. President Trump's administration has raised tariffs on $250 billion worth of imports of Chinese goods in an effort to get Beijing to end policies — including industrial subsidies — Trump says are unfair to U.S. businesses. China responded with tit-for-tat tariffs on U.S. goods. Beijing considers subsidies and tax breaks to state-owned firms and key sectors to be an important tool in its long-term development strategy. U.S. negotiators reportedly have become resigned to accepting less progress on curbing subsidies and focusing on more achievable demands.

Reuters

2. Lyft sidelines electric bikes in 3 cities due to brake problem

Lyft said Sunday it was pulling electric bikes from service in bike-share programs it owns in New York, Washington, and San Francisco due to a braking problem. "We recently received a small number of reports from riders who experienced stronger than expected braking force on the front wheel," the ride-hailing company said in a blog post emailed to customers. The move affects about 3,000 pedal-assist bikes. Lyft, fresh off a bumpy March IPO, is working on replacing the electric bikes with traditional bikes to keep the services operating in the cities, where it already has 17,000 traditional bikes available. The Lyft-owned bike-share brands involved include Citi Bike in New York, Capital Bikeshare in Washington, D.C., and Ford GoBike in the Bay Area.

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CNBC

3. American Airlines extends Boeing 737 MAX flight cancellations

American Airlines, the world's largest airline, has extended flight cancellations for its Boeing 737 MAX jets into mid-August, affecting 115 daily flights. American's decision to continue cancellations from early June through Aug. 19 came days after Southwest Airlines made a similar move. The Boeing models were grounded in countries worldwide after two of the planes crashed in Ethiopia and Indonesia within five months, killing a total of 346 people. "We are highly confident that the MAX will be recertified prior to this time," American Chairman and CEO Doug Parker and President Robert Isom said Sunday in a message to airline staff. "But by extending our cancellations through the summer, we can plan more reliably for the peak travel season."

CNN

4. Stocks fight for footing with earnings, trade talks in focus

U.S. stock index futures edged higher early Monday ahead of another round of first-quarter earnings reports. Futures for the Dow Jones Industrial Average were up by 0.2 percent, while those of the S&P 500 and the Nasdaq were essentially flat. Two of the biggest Wall Street banks, Citigroup and Goldman Sachs, reported before the bell. Goldman Sachs reported profit that beat analysts' expectations despite disappointing revenue. World stocks were mixed on Monday as investors focused on U.S.-China trade talks after the two sides hinted they were nearing a deal to end a trade war that has hurt companies worldwide.

CNBC The Associated Press

5. Shazam! leads box office for second weekend

Warner Bros.'s Shazam! held its top spot at the box office for the second weekend, bringing in another $25.1 million domestically. The film — about a teenager who transforms into a superhero in a grown-up body by saying "Shazam!" — also made $35.9 million more outside North America in its second weekend. That brought the DC Comics superhero movie's worldwide gross to $258.8 million, more than twice what it cost to make. Universal's Little was second for the weekend with $15.5 million, according to Comscore. Lionsgate's Hellboy, financed by Millennium Media, launched in third place with $12 million.

The New York Times