Business & Finance News
British billionaire Richard Branson’s Virgin Galactic plans a stock market listing by the end of the year, becoming the first space tourism firm to tap public markets for funding.
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 [HWT.UL] where there is no threat to national security, Commerce Secretary Wilbur Ross said on Tuesday.
Wall Street was set for a lower open on Tuesday as investors fretted over a hit to earnings from the protracted U.S.-China trade dispute and lowered expectations of a big rate cut by the Federal Reserve later this month.
White House economic adviser Larry Kudlow on Tuesday said China was expected to move forward with agriculture purchases from the United States even as trade talks continued between the two countries.
International Business Machines Corp said on Tuesday it has closed its $34 billion acquisition of software company Red Hat Inc as it looks to ramp up its cloud computing business.
Network gear maker Cisco Systems Inc said on Tuesday it would buy optical component maker Acacia Communications Inc for $2.84 billion in cash.
Deutsche Bank shares extended losses on Tuesday on investor doubts that the new chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany.
U.S. stock futures fell on Tuesday as investors worried over a hit to earnings from the prolonged U.S.-China trade war and receding hopes of a sharp rate cut by the Federal Reserve later this month.
Russian oil production fell close to a three-year low in early July, as output was undermined by a row between Russian oil pipeline monopoly Transneft and the country’s biggest producer Rosneft .
Deutsche Bank Chief Executive Officer Christian Sewing is planning to invest a quarter of his fixed salary in the bank’s shares, a person with knowledge of the matter said on Tuesday.
Japan and South Korea raised the stakes on Tuesday in a diplomatic dispute that threatens to disrupt global supplies of smartphones and chips, with South Korea denouncing Japanese reports that it had transferred a key chemical to North Korea.
European regulators have ordered inspections on some older Airbus A380 superjumbo airplanes after some cracks were detected in wings on the world’s largest passenger aircraft.
Billionaire Richard Branson’s space-tourism venture, Virgin Galactic, plans to go public by the end of this year as part of a deal with a special purpose acquisition company (SPAC) created by venture-capital firms Social Capital and Hedosophia, the companies said on Tuesday.
Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.
PepsiCo Inc beat analysts’ estimates for quarterly revenue and profit on Tuesday, as the company benefited from demand for its sodas and Lays chips, as well as its sparkling waters.
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