Business & Finance News
A trade secrets lawsuit brought by Canada’s Bombardier against the aircraft unit of Mitsubishi Heavy Industries Ltd has been “stayed” or suspended and will be dropped when a deal for the Japanese company to buy Bombardier’s regional jet program closes, Mitsubishi said on Tuesday.
Micron Technology Inc shares rose as much as 10% on Tuesday as the memory chip maker said it had resumed some shipments to Huawei Technologies Co Ltd and still expected demand for its chips to recover later this year.
Walt Disney Co said on Tuesday it had hired a top executive in Netflix Inc’s original film division, Matt Brodlie, to lead international content development for its upcoming family-oriented streaming service called Disney+.
Federal Reserve officials on Tuesday pushed back on market expectations and presidential pressure for the central bank to deliver a significant U.S. interest rate cut of half a percentage point as soon as its next meeting.
Package delivery company FedEx Corp beat Wall Street estimates for quarterly profit on Tuesday, but warned its fiscal 2020 performance would be hurt by trade uncertainty and non-renewal of Amazon contract, sending its shares down 2%.
Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates.
Micron Technology Inc beat analysts’ estimates for quarterly revenue and profit on Tuesday, and the chipmaker said it is seeing early signs of demand improvement, sending shares up as much as 7% in extended trading.
Richmond Federal Reserve President Thomas Barkin on Tuesday said there was a risk the United States could talk itself into a recession but added he saw no sign of this happening yet.
FedEx Corp reported a 17.5% fall in quarterly profit on Tuesday, as an escalating U.S.-China trade war continued to weigh on the package delivery company.
Walt Disney Co has hired the head of Netflix Inc’s original film division, Matt Brodlie, for its streaming service Disney+, according to a report by Deadline on Tuesday.
Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is “insulated from short-term political pressures,” and that its policymakers are wrestling with whether to cut interest rates as President Donald Trump has demanded.
Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty that the Federal Reserve will cut interest rates in July as has been expected.
Shares of Tesla Inc fell 1.3% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter and may miss its quarterly target.
Oil prices were mixed on Tuesday ahead of data expected to show U.S. crude stocks declining, outweighing investors’ concerns that U.S.-China trade tensions could dampen fuel demand.
A committee of bondholders of PG&E Corp’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires.
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