Business & Finance News
A gauge of global equities traded little changed on Tuesday, pulled lower by sliding stocks on Wall Street as prospects of a U.S.-China trade deal remained uncertain and demand for U.S. Treasuries and precious metals rose on recession fears.
Papa John’s International Inc on Tuesday named Arby’s Restaurant Group Inc President Rob Lynch as its chief executive officer, replacing Steve Ritchie barely 19 months after he took the role, sending shares of the world’s third-largest pizza chain up nearly 10%.
The U.S. Department of Justice on Tuesday filed criminal charges accusing Anthony Levandowski, a former high-ranking engineer at Alphabet Inc , of stealing the company’s self-driving car technology before joining rival Uber Technologies Inc .
Wall Street slipped on Tuesday, weighed down by financial stocks as a deepened yield curve raised U.S. recession worries, while uncertainty reigned on the progress of trade negotiations between the U.S. and China.
Oil prices rose in highly volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.
The U.S. central bank on Tuesday rejected a call from a former Federal Reserve policymaker to counter President Donald Trump’s trade agenda by refusing to “play along” and denying the president the interest rate cuts he has demanded.
Underscoring discord at the U.S. central over interest-rate policy, directors at half of the Federal Reserve’s regional Fed banks — including those at the influential New York Fed — wanted to keep the emergency lending rate for commercial banks unchanged in July.
British oil major BP said on Tuesday it had agreed to sell its Alaskan operations for $5.6 billion to privately held oil and natural gas explorer Hilcorp Alaska as part of its divestment plans.
The U.S. Securities and Exchange Commission (SEC) said on Tuesday that it fined public accounting firm RSM US LLP $950,000 to settle claims it violated the agency’s auditor independence rules.
Wall Street slipped on Tuesday hurt by a fall in financial stocks, while revived worries about a U.S. recession overshadowed early optimism of a resolution to the prolonged trade dispute between the world’s two largest economies.
Philip Morris International Inc and Altria Group Inc are discussing an all-stock merger, potentially reuniting two of the world’s largest tobacco companies in a bid to dominate the fast-growing electronic-cigarette market.
Qualcomm Inc on Tuesday announced a new range of Wi-Fi chips designed to work with Wi-Fi 6, the newest version of the technology and one that Qualcomm hopes will help boost sales of its separate 5G chips.
U.S. consumer confidence fell less than expected in August, with households still upbeat about the labor market despite an escalation in trade tensions, which has cast a shadow over the longest economic expansion in history.
A federal appeals court on Tuesday revived lawsuits by aluminum purchasers that accused Goldman Sachs , JPMorgan Chase , mining company Glencore and other companies of conspiring to drive up prices for the metal by reducing supply.
Equity indexes on Wall Street gave up earlier gains on Tuesday amid uncertainty over the prospects for a U.S.-China trade deal, while demand for U.S. treasuries and precious metals grew, showing an appetite for less-risky investments.
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