Wall Street was set to open sharply lower on Tuesday as disappointing earnings from industrial bellwethers Caterpillar and 3M piled on to concerns over Saudi Arabia’s diplomatic isolation, Italy’s finances and trade war fears.
McDonald’s Corp beat estimates for quarterly global same-store sales as strong demand in international markets made up for slowing growth in the fiercely-competitive U.S. fast-food industry, sending its shares up nearly 3 percent.
Verizon Communications Inc on Tuesday beat Wall Street estimates for profit and net new phone subscribers, helped by the popularity of its promotional offers subsidizing Apple Inc’s latest iPhones.
World shares slid towards their lowest level in a year on Tuesday, as negative drivers from fatigued earnings and Saudi Arabia’s diplomatic isolation to a brewing spat over Italy’s finances piled on the pressure.
McDonald’s Corp quarterly sales at comparable U.S. restaurants fell short of expectations on Tuesday as fierce competition in its home fast food market undermined rise in global revenue.
Lockheed Martin Corp , the Pentagon’s No. 1 weapons supplier, reported a 17 percent rise in quarterly profit on Tuesday, driven by more production of F-35 fighter jets.
Verizon Communications Inc on Tuesday beat Wall Street estimates for net new phone subscribers who pay a monthly bill, helped by promotional offers for Apple Inc’s new iPhones.
Bank of Kunlun Co, the key Chinese conduit for transactions with Iran, is set to halt handling payments from the Islamic Republic under pressure of imminent U.S. sanctions against the country, four sources familiar with the matter told Reuters.
For two years Airbus faced a shortage of engines and had to slow jet deliveries. Now engines are arriving fast – but snags at a Hamburg plant where Airbus assembles best-selling jets is having trouble absorbing them, industry sources said.
United Technologies Corp reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.
The U.S. Department of Justice is seeking documents from Glencore about intermediary companies that the commodities firm has worked with in the Democratic Republic of Congo, Venezuela and Nigeria, sources familiar with the matter said.
Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said.
Saudi Arabia’s economic transformation plan is important for the world, the chief executive of the Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) said on Tuesday.
Saudi Arabia hopes OPEC and other oil producers will sign a deal in December to extend cooperation to monitor and stabilize the oil market, said the kingdom’s energy minister on Tuesday.
The chief executive of oil giant Saudi Aramco said on Tuesday that bankers had not expressed any concerns about a recent rise in Saudi funding costs ahead of the company’s potential acquisition of a stake in petrochemical firm Saudi Basic Industries Corp (SABIC) .
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