Business & Finance News
General Motors Co on Tuesday reported a higher-than-expected quarterly profit, lifted by revaluations of shares it holds in ride-hailing company Lyft Inc and France’s Peugeot SA.
General Electric Co said on Tuesday it generated more profit and lost less cash than expected in the first quarter, suggesting an improving outlook under its new leader that sent its shares up more than 5 percent.
Merck & Co Inc reported a higher-than-expected first-quarter profit on Tuesday and raised its earnings and sales forecasts for the year, boosted by its vaccines business and demand for its cancer immunotherapy Keytruda.
A U.S. district court has granted bail to a former managing partner of collapsed private equity firm Abraaj, Mustafa Abdel-Wadood, on condition that he sign a $10 million bond and remain confined to a New York apartment, court documents showed.
General Motors Co on Tuesday reported a higher-than-expected quarterly profit, driven mostly by highly lucrative pickup truck sales in the U.S. market and in part by revaluations of shares it holds in ride-hailing company Lyft Inc and Peugeot SA.
U.S. stocks opened mixed on Tuesday, as investors parsed a barrage of earnings reports, while a slump in shares of Google-parent Alphabet weighed on the S&P 500 and Nasdaq.
Occidental Petroleum Corp said on Tuesday that Warren Buffett’s Berkshire Hathaway Inc would invest $10 billion in the U.S oil and gas company to help fund its acquisition of smaller rival Anadarko Petroleum Corp.
Eli Lilly and Co reported lower-than-expected sales for its top-selling diabetes drug Trulicity on Tuesday and said it expects further hits from price declines in the United States, sending its shares down 3 percent.
Ford Motor Co said on Tuesday it had reached an agreement with the workers’ union at a historic Brazil plant it plans to shutter by the end of the year, paving the way for a friendly shutdown or potential takeover by a local buyer.
Wall Street punished Google on Tuesday for managers’ refusal to give details of changes made to its ad platform in first-quarter results, following a rare miss of expectations for revenue due to a cleanup of YouTube content.
Wall Street’s main indexes were on course for a mixed open on Tuesday as investors assessed a barrage of earnings reports, while a slump in shares of Google-parent Alphabet was set to weigh on the Nasdaq.
U.S. labor costs increased steadily in the first quarter as employers gradually raised wages for workers, pointing to moderate inflation pressures even as the labor market tightens.
McDonald’s Corp reported a better-than-expected rise in quarterly sales at established U.S. restaurants on Tuesday, boosted by the burger chain’s latest promotions and menu additions, sending its shares up about 4 percent.
Russia’s Central Bank sent warnings in 2007 and 2013 to Estonian and Danish financial supervisors over suspect transactions worth billion of dollars at the Estonian branch of Danske Bank but they were largely ignored, a confidential EU document shows.
General Electric Co said on Tuesday it generated more profit and lost less cash than expected in the first quarter, suggesting an improving outlook under its new leader and sending its shares up more than 10 percent in premarket trading.
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