Updated from 5:57 a.m. EDT following the EU's ruling on Ireland's tax dealings with Apple.
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Here are five things you must know for Tuesday, Aug. 30:
1. -- U.S. stock futures were trading lower early Tuesday and European and Asian shares gained on the expectation that U.S. interest rates will be raised at some point in 2016.
Federal Reserve Chair Janet Yellen said last week that the case for raising rates was strengthening given improvements in the economy. Wall Street is predicting the Fed will lift rates in December but some investors expect a move as early as next month.
Investors also were awaiting the the U.S. jobs report for August, which will be released on Friday.
The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-City Index for June at 9 a.m. EDT and Consumer Confidence for August at 10 a.m.
Stocks finished higher on Monday, buoyed by Yellen's comments.
2. -- Apple (AAPL) - Get Apple Inc. (AAPL) Report shares fell 2.4% in premarket trading on Tuesday after the European Union said Ireland gave illegal tax benefits worth up to 13 billion euros ($14.5 billion) to Apple and ordered Ireland to recover the back taxes from the iPhone maker.
"Member states cannot give tax benefits to selected companies -- this is illegal under EU state aid rules," said EU Competition Commissioner Margrethe Vestager on Tuesday.
Vestager said Apple paid a tax rate on European profits of between 0.005% to 1%.
Apple and Ireland both said they would appeal the ruling.
Separately, Apple sent out invites Monday for a Sept. 7 event in San Francisco, where the company is expected to unveil a new 4.7-inch iPhone 7 and 5.5-inch iPhone 7-plus. A new Apple Watch may also be in the cards.
3. -- Hershey (HSY) - Get Hershey Company (HSY) Report shares tumbled 11.7% to $98.60 in after-hours trading on Monday after Mondelez (MDLZ) - Get Mondelez International, Inc. Class A (MDLZ) Report said it was no longer pursuing a combination with the chocolate maker.
Mondelez, in a statement Monday, said it determined that there was "no actionable path forward" toward an agreement.
In July, Hershey rejected a $23 billion takeover offer from Mondelez.
Mondelez had raised its bid for Hershey to $115 a share last week before abandoning a possible deal Monday, a source told TheWall Street Journal. Hershey said price talks would need to start at $125 a share, the source added.
4. -- Scott Kirby has left the job of president of American Airlines (AAL) - Get American Airlines Group, Inc. Report to become president of United Airlines (UAL) - Get United Airlines Holdings, Inc. Report , ending his 20-year partnership with American CEO Doug Parker.
Robert Isom replaced Kirby as American president. Both job changes took place immediately, the airlines said Monday.
United described Kirby's departure as the result of CEO Oscar Munoz's effort to assemble a new leadership team, while American described it as the result of its board's consideration of succession planning.
In a letter to United employees, Munoz wrote that he appointed Kirby to the newly created position of United president.
"Scott will report to me and have overall responsibility for United's operations, marketing, sales, alliances, route planning and revenue management," wrote Munoz, who intends to focus on strategy, innovation and financial performance.
American shares fell 1.9% in after-hours trading on Monday while United shares rose slightly in the regular session but were up 3.3% in premarket trading on Tuesday.
In other retail news, Sycamore Partners confirmed Monday it submitted a bid for bankrupt teen retailer Aeropostale.
Aeropostale borrowed about $150 million from affiliates of Sycamore in 2014 as it tried to reorganize. Two years later, the company filed for bankruptcy in Manhattan, claiming Sycamore was partly to blame for its downfall, Bloomberg reported.
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