Business & Finance News
U.S. President Donald Trump said on Monday he was a “little concerned” about the merger of defense contractor Raytheon Co and United Technologies Corp but gave a mixed message as to whether he believed the $121 billion deal should go forward.
U.S. stocks were higher on Monday after the United States dropped plans to impose tariffs on Mexican goods, with a couple of multi-billion dollar deals adding to the upbeat mood.
Oil prices edged lower on Monday in volatile trading as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand for crude.
U.S. President Donald Trump said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he does not reach a trade deal with China’s president at a G20 summit later this month.
U.S. job openings fell slightly in April, but a surge in hiring to a record high suggested strong demand for labor before a recent escalation in trade tensions that was partly blamed for a sharp slowdown in employment growth last month.
Wall Street’s main indexes gained on Monday, after the United States abandoned its plans to impose tariffs on Mexican goods, while a multi-billion dollar deal in the industrial space added to the upbeat sentiment.
Drugmaker Insys Therapeutics Inc filed for bankruptcy protection on Monday amid mounting expenses driven by a U.S. Justice Department probe into claims it paid doctors bribes to prescribe a powerful opioid medication.
The chief executive of United Technologies Corp said in a television interview that merging with Raytheon Co did not require approval from China, removing one possible hurdle from the creation of the proposed conglomerate.
Oil prices were steady in volatile trading on Monday as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand for crude.
Shares of defense contractor Raytheon Co and United Technologies Corp pared gains on Monday after U.S. President Donald Trump said he was a “little concerned” about their $121 billion merger to create a new aero-defense company.
U.S. job openings fell slightly in April as hiring surged to a record high, government data showed on Monday.
U.S. stocks opened higher on Monday after the United States abandoned plans to impose tariffs on Mexican goods, while a multi-billion dollar deal between United Technologies and Raytheon added to the cheer.
U.S. President Donald Trump said on Monday he was a “little concerned” about the $121-billion merger of defense contractor Raytheon Co and United Technologies Corp.
United Technologies Corp said on Monday it expects to secure regulatory approval by the first quarter of 2020 to combine its aerospace business with U.S. contractor Raytheon Co and create a new company worth about $121 billion.
Stock market investors gave their seal of approval to the $121 billion merger of defense contractor Raytheon Co and United Technologies Corp on Monday, pushing shares of both companies higher after the surprise weekend announcement.
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