Business News

Cybersecurity company Symantec Corp and chipmaker Broadcom Inc have ceased deal negotiations, CNBC reported on Monday, citing sources.

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Wall Street was set to extend last week’s gains at the open on Monday as second-quarter corporate earnings got off to an upbeat start with results from the third largest U.S lender, Citigroup, beating expectations.

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Wall Street was set to extend last week’s gains at the open on Monday as second-quarter corporate earnings got off to an upbeat start with results from the third largest U.S lender, Citigroup, beating expectations.

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U.S. antiviral drugmaker Gilead Sciences will invest $5.1 billion in a major expansion of its partnership with Belgo-Dutch biotech Galapagos NV , news that lifted Galapagos’s shares 18 percent to an all-time high on Monday.

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U.S. antiviral drugmaker Gilead Sciences will invest $5.1 billion in a major expansion of its partnership with Belgo-Dutch biotech Galapagos NV .

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Citigroup Inc beat analysts’ estimates for quarterly profit on Monday, as a tight lid on costs and strength in consumer lending helped the third-largest U.S. bank counter weakness in its trading business.

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Deutsche Telekom has lost a legal battle to continue offering an all-you-can-watch mobile video product after a court sided with the German regulator, saying it violated European rules on roaming and network neutrality.

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China’s Huawei Technologies said it will invest $3.1 billion in Italy over the next three years, as the Chinese telecoms giant called on Rome to ensure the “transparent, efficient and fair” use of its ‘golden power’ on 5G network development.

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Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades.

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U.S. stock futures extended last week’s gains to trade slightly higher on Monday in the run up to the start of second-quarter earnings reports, beginning with Citigroup.

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U.S. President Donald Trump on Monday pointed to slowing economic growth in China amid restarted trade talks, saying U.S. tariffs were having “a major effect” and warning that “possibly much more” were to come.

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The United Auto Workers and Ford Motor Co will officially launch talks on a four-year contract on Monday that are expected to be contentious, with rising healthcare costs, job security and the use of temporary workers expected to be major sticking points.

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Amazon.com Inc’s Prime Day is now a major marketing opportunity and shopping event in the annual calendar for other U.S. retail companies, rivaling the Thanksgiving holiday’s Black Friday as a driver of sales.

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China’s Huawei Technologies will invest $3.1 billion in Italy over the next three years, the chief executive of the telecoms giant’s Italian unit, Thomas Miao, said on Monday.

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U.S. antiviral drugmaker Gilead Sciences will invest $5.1 billion in a major expansion of its partnership with Belgo-Dutch biotech Galapagos NV , news that lifted Galapagos’s shares 18 percent to an all-time high on Monday.

…read more […]