Business & Finance News
Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support.
U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions.
Wall Street was set to open lower on Tuesday, tracking a global shift out of riskier assets, as investors grappled with simmering geopolitical tensions and fears of a recession due to a drawn-out U.S.-China trade war.
Snap Inc said Tuesday it will launch a new version of its Spectacles sunglasses, which will have the capability of capturing photos and videos and uploading them directly to its unit Snapchat, as the technology company works to develop its augmented reality features.
Share markets fell for a third straight day on Tuesday as fears about a drawnout global trade war, protests in Hong Kong and a crash in Argentina’s peso currency kept investors huddled in bonds, gold, and the Japanese yen for safety.
CBS Corp and Viacom Inc have reached an agreement in principle, sources familiar with the matter told Reuters on Tuesday, reuniting media mogul Sumner Redstone’s U.S. entertainment empire after 13 years apart.
Exxon Mobil is considering an exit from the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects.
Amazon.com Inc is in late-stage talks to buy as much as 10% of India’s Future Retail Ltd , Bloomberg reported on Tuesday, citing people familiar with the matter.
German classifieds group Scout24 can cope with a higher long-term leverage ratio of up to 3.5 times core earnings to fund greater capital return to shareholders, CEO Tobias Hartmann said on Tuesday.
Oil prices dropped on Tuesday after see-sawing throughout the session as lingering concerns over global demand and rising U.S. output offset expectations for major producers to further curtail supply.
U.S. stock index futures fell on Tuesday, tracking a global shift out of riskier assets, as investors grappled with simmering geopolitical tensions and fears of a recession due to a drawn-out U.S.-China trade war.
When fashion label Prada started demanding greater control over shop floor arrangements in U.S. department stores, Barneys New York, now mired in bankruptcy proceedings, was one of the few with enough swagger to resist.
Oil prices edged higher on Tuesday as expectations for major producers to further curtail output offset lingering concerns over global demand and rising U.S. production.
China’s yuan is at an appropriate level currently and two-way fluctuations in the currency will not necessarily cause disorderly capital flows, a senior official at the People’s Bank of China told Reuters on Tuesday.
Reliance Industries shares saw their biggest intraday rise in more than a decade on Tuesday, after the company set a target to reach zero net debt in 18 months and vowed to reward shareholders with higher dividends and periodic bonus issues.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
