United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.
China’s Xiaomi Corp reported 15% growth in quarterly revenue on Tuesday, missing estimates, as fewer people bought smartphones at home and rival Huawei grabbed market share.
Qualcomm Inc said on Tuesday that it has entered into a new five-year patent license agreement with LG Electronics Inc to develop, manufacture and sell 3G, 4G and 5G smartphones.
Oil prices edged lower on Tuesday on persisting concerns over demand, but optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a potential economic slowdown capped losses.
Stock markets edged higher on Tuesday as investors welcomed signs that more monetary and fiscal stimulus was on its way, hoping more easing would help stave off a major global economic downturn.
Elanco Animal Health agreed to buy Bayer’s veterinary drugs unit on Tuesday in a cash and stock deal valued at $7.6 billion, creating the second largest animal health business and expanding Elanco’s reach online.
Department store operator Kohl’s Corp reported better-than-expected quarterly profit and revenue on Tuesday and said it expects to benefit from newer partnerships and the expansion of its Amazon returns program in the second half of the year.
U.S. stock index futures treaded water on Tuesday as investors paused after a three-day run that was driven by hopes that major economies would act to counter a global economic downturn.
A swift steepening of the U.S. 2-year/10-year yield curve after it inverted last week may have given investors hope that the United States can escape recession. They should probably take a breath.
Searches on Google for “inverted yield curve” have spiked after the unusual bond market phenomenon presented itself last week for the first time in over 12 years and helped tank Wall Street amid chatter that an economic downturn was imminent.
China’s Huawei will spend more on production equipment this year to ensure supply continuity, cut redundant roles and demote inefficient managers as its grapples with a “live-or-die moment” in the wake of U.S. export curbs, founder Ren Zhengfei said.
Elanco Animal Health said on Tuesday it would buy Bayer’s veterinary drugs unit in a cash and stock deal valued at $7.6 billion, creating the second largest animal health business and expanding Elanco’s reach in the pet e-commerce space.
European shares followed their Asian counterparts higher on Tuesday as investors bet possible monetary and fiscal stimulus measures would help stave off a major global economic downturn.
German carrier Lufthansa will continue to fight for market share in the hotly contested market for short-haul flights, where it is determined to compete with budget airlines such as Ryanair , its chief executive said.
Facebook Inc’s messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation’s fast growing e-commerce sector, people familiar with the matter said.
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