Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert’s $4.4 billion takeover bid, casting doubt on the survival of the 126-year-old U.S. department store, people familiar with the matter said.
U.S. stock index futures pointed to a third consecutive day of gains for Wall Street on Tuesday, lifted by expectations that the United States and China would strike a deal to end their months-long trade war that has battered financial markets.
A second day of U.S.-China trade talks in Beijing extended into Tuesday evening, a source with knowledge of the meetings said, as the world’s two largest economies looked to resolve a bitter trade dispute.
India’s Supreme Court ruled on Tuesday that Monsanto can claim patents on its genetically modified (GM) cotton seeds, a victory for the U.S. company that is expected to encourage biotechnology firms to step up investment in the country.
The clock may be fast running out on Sears Holdings Corp, but you wouldn’t know it from the company’s feisty posts on Twitter.
Airbus operationally hit its main industrial target of 800 aircraft deliveries in 2018 after record handovers in December, said two people briefed on the matter.
South Korea’s LG Electronics Inc said on Tuesday its fourth-quarter operating profit likely plummeted 80 percent from the same period a year earlier, falling well below analyst expectations.
A solid start from Europe kept world stocks at a three-week high on Tuesday after Asia was knocked back by a shock profit warning from tech giant Samsung and a tick-up in borrowing costs.
Samsung Electronics surprised the market on Tuesday with an estimated 29 percent drop in quarterly profit, blaming weak chip demand in a rare commentary issued to “ease confusion” among investors already fretting about a global tech slowdown.
German carmaker BMW on Tuesday said it achieved record sales of 2.49 million BMW, Mini and Rolls-Royce vehicles last year.
Unions representing Ryanair cabin crew in Spain called off plans to strike on Tuesday to allow time for further talks, the SITCPLA and USO unions said in a statement.
China’s indebted HNA Group met bankers on Tuesday to tout the latest assets that the sprawling conglomerate is putting on the block as it looks to raise funds and stave off an intensifying cash crunch.
S&P Global Ratings on Monday stripped California power utility PG&E Corp of its investment-grade credit rating and kept it under review for a further downgrade, citing political and regulatory pressure and uncertainty as it faces massive claims stemming from deadly wildfires.
India’s Supreme Court ruled on Tuesday that U.S. seed maker Monsanto can claim patents on its genetically modified (GM) cotton seeds in the world’s biggest producer of the fibre.
A nationalist group close to Indian Prime Minister Narendra Modi’s party said on Tuesday it would seek a legislative amendment to the rules governing patents, after the country’s top court ruled in favor of Monsanto’s cotton seed patent.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
