Business & Finance News
British billionaire Richard Branson’s Virgin Galactic plans a stock market listing by the end of the year, giving it the much-needed funds to take on Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX in the race to space.
Bayer has approached U.S. drug firm Elanco Animal Health to discuss a possible combination of their pet-health businesses to create an industry giant, three sources familiar with the matter told Reuters.
The S&P 500 and the Dow Industrials were on track to fall for the third straight session on Tuesday, as investors worried over warnings of a hit to earnings from the U.S.-China trade dispute and reined in hopes of a steep interest rate cut this month.
Lab-grown meat, first introduced to the world six years ago in the form of a $280,000 hamburger, could hit supermarket shelves at $10 a patty within two years, European start-ups told Reuters.
Oil futures edged up on Tuesday as OPEC supply cuts and Middle East tensions kept global benchmark Brent crude above $64 a barrel, while gains were limited by the U.S.-China trade dispute that has dragged on the global economy and crimped oil demand.
The Mexican government has questioned Louis Vuitton’s use of a traditional Mexican pattern in the design of a chair, less than a month after it sent a similar letter to another prominent fashion house.
Boeing Co said on Tuesday its deliveries fell about 37% to 239 planes in the first half of 2019, hurt by the groundings of its best-selling 737 MAX jets, putting it on track to lose the world’s biggest planemaker title after eight years.
ABB is pressing ahead with a review of its underperforming businesses and expects a customer slowdown and China-U.S. trade tensions to mean a turbulent year, its Chairman and interim Chief Executive Peter Voser told Reuters.
Network gear maker Cisco Systems Inc said on Tuesday it would buy optical component maker Acacia Communications Inc for $2.84 billion in cash, as it seeks to garner a bigger chunk of 5G spending by telecom companies.
ABB is pressing ahead with a review of its underperforming businesses and expects a turbulent 2019 amid a slowdown in some markets and China-U.S. trade tensions, Chairman and interim Chief Executive Peter Voser told Reuters.
PepsiCo Inc’s quarterly revenue and profit beat Wall Street estimates on Tuesday, boosted by higher sales of its traditional Pepsi soda as well as snacks Lay’s and Dorito chips.
White House economic adviser Larry Kudlow on Tuesday said China was expected to move forward with agricultural purchases from the United States even as trade talks resumed between the two countries, with top officials slated to talk by phone this week.
Deutsche Bank shares extended losses on Tuesday on investor doubts that its chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany.
Deutsche Bank is in talks with SoftBank-backed British fintech firm OakNorth to use the latter’s credit analysis and monitoring platform, a source with knowledge of the discussions told Reuters.
The U.S. Department of Commerce will issue licenses to U.S. companies seeking to sell to Chinese telecoms equipment giant Huawei Technologies Co Ltd where there is no threat to national security, Commerce Secretary Wilbur Ross said on Tuesday.
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