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Drugmaker Mylan NV on Tuesday reported lower-than-expected quarterly revenue and failed to provide greater clarity on a potential revamp of the company’s strategy, sending its shares down 17 percent to a more than six-and-a-half year low.
Johnson & Johnson agreed to pay about $1 billion to resolve the bulk of lawsuits claiming the company sold defective metal-on-metal hip implants that ultimately had to be removed, Bloomberg reported on Tuesday, citing people with knowledge of the matter.
Allergan Plc Chief Executive Brent Saunders said on Tuesday that he and the board of directors were looking with a sense of urgency at all options to revive the Botox maker’s falling share price, but a lack of specifics failed to boost investor sentiment.
SAP CEO Bill McDermott on Tuesday welcomed a $1.3 billion investment by activist investor Elliott, saying it was aligned with his goal of expanding margins through driving top-line growth.
Wall Street’s main indexes tumbled more than 1 percent on Tuesday, as renewed worries over trade negotiations with China stoked global growth worries and kept investors away from risky assets.
Business software maker SAP and Apple are teaming up to help clients develop their own mobile business applications using Apple’s machine-learning technology.
Danish prosecutors have charged Thomas Borgen, former chief executive of Danske Bank, over his involvement in one of the world’s biggest money laundering scandals, newspaper Borsen reported on Tuesday, citing his lawyer.
Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran.
Iranian Foreign Minister Mohammad Javad Zarif told Russian news agency RIA on Tuesday that Iran was close to an oil sales deal with the European Union, despite the sanctions which have been re-imposed by the United States.
U.S. stocks posted broad-based declines on Tuesday, led by tariff-sensitive industrial companies, as renewed worries over trade negotiations with China stoked global growth worries and kept investors away from risky assets.
General Motors Co’s majority-owned Cruise self-driving division on Tuesday said T. Rowe Price and a group of existing investors put down $1.15 billion in new equity, valuing the unit at $19 billion.
Mylan NV missed first-quarter revenue estimates on Tuesday, hurt by lower demand for its products and manufacturing problems at its Morgantown plant, sending its shares down nearly 8 percent.
U.S. stocks opened lower on Tuesday, as renewed worries over a prolonged trade spat between the United States and China weighed on investor sentiment.
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