Business & Finance News
General Motors Co’s majority-owned Cruise self-driving division on Tuesday said T. Rowe Price and a group of existing investors put down $1.15 billion in new equity, valuing the unit at $19 billion.
Mylan NV missed first-quarter revenue estimates on Tuesday, hurt by lower demand for its products and manufacturing problems at its Morgantown plant, sending its shares down nearly 8 percent.
U.S. stocks opened lower on Tuesday, as renewed worries over a prolonged trade spat between the United States and China weighed on investor sentiment.
Nissan Motor Co’s premium division Infiniti is expected to announce a new acting global chief for the brand after its current head, Christian Meunier, resigned, the company said.
A push by makers of electronic cigarettes to raise nicotine levels in the European Union towards their far higher American levels is running into opposition, a senior executive at U.S. market leader Juul said on Tuesday.
BMW’s Chief Executive on Tuesday said the carmaker has increased production of its X3 offroader model in Spartanburg, South Carolina, as well as in China, a step which reduces exposure to trade tariffs between China and the United States.
General Motors Co’s majority-owned Cruise self-driving car unit said on Tuesday it received a $1.15 billion investment from a consortium of investors, valuing the subsidiary at $19 billion.
Ferrari beat forecasts on Tuesday with a 14 percent rise in first-quarter core earnings, boosting its shares on growing expectations the Italian luxury carmaker might soon raise its full-year financial targets.
Drugmaker Mylan NV missed Wall Street estimates for quarterly revenue on Tuesday, hurt by restructuring at its Morgantown plant in West Virginia and a stronger dollar, sending its shares down 4.5 percent.
Jet Airways’ pilots’ union has appealed to India’s top court to direct state lender, State Bank Of India, to release interim funding to the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters.
U.S. President Donald Trump’s latest threat to ramp up trade tariffs on China kept global share markets weak on Tuesday, while Turkey’s lira was back in trouble as concerns about its politics erupted again.
Wall Street was set to open lower on Tuesday, as renewed worries over a prolonged trade spat between the United States and China weighed on investor sentiment.
German prosecutors imposed a 535 million euro ($598 million) fine on German luxury carmaker Porsche AG, a unit of Volkswagen, as punishment for lapses in supervisory duties which allowed the company to cheat diesel emissions tests.
German prosecutors have imposed a fine of 535 million euros ($598.99 million) on German luxury carmaker Porsche AG for neglecting supervisory obligations linked to diesel emissions cheating, they said in a statement on Tuesday.
The head of the EU executive said on Tuesday that U.S. President Donald Trump could be trusted on EU-U.S. trade relations and that the Sino-U.S. trade conflict needed to be resolved soon to restore investor confidence.
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