Business & Finance News
Iran has said it would block the Strait of Hormuz if it was barred from using the strategic waterway through which about a fifth of oil that is consumed globally passes.
European energy shares had their best day since January on the back of higher oil prices on Tuesday while Wall Street rose on upbeat results that eased fears of slowing profits.
Alphabet Inc’s Waymo said on Tuesday it had chosen a factory in Detroit to mass produce self-driving cars, looking to the historical heart of the auto industry to build the vehicles of the future.
Procter & Gamble Co reported a decline in its third-quarter operating margin on Tuesday and said a strong U.S. dollar hurt sales of its grooming products, sending shares of the maker of Tide and Gillette products down as much as 3.3% in morning trading.
The United States called on Iran to keep the straits of Hormuz and Bab al-Mandab open, a State Department official said on Tuesday after the United States a day earlier demanded that Iran oil buyers halt their purchases by May 1.
Walgreens Boots Alliance Inc said on Tuesday its drugstores will sell tobacco products to customers who are at least 21 years old under a new policy, effective September.
Twitter Inc posted better-than-expected quarterly revenue and a surprise increase in monthly users on Tuesday, sending shares up 13 percent to a nine-month high as its campaign to clean up fake and abusive accounts continued to attract advertisers.
India said on Tuesday its refineries will have adequate oil supplies, thanks in part to imports from other producers, despite the United States’ demand that buyers of Iranian oil stop purchases by May 1 or face sanctions.
Kohl’s Corp said on Tuesday items bought on Amazon.com Inc can now be returned at all its U.S. stores starting July, deepening its partnership with the e-commerce giant and sending its shares up as much as 9 percent.
(This April 18 story corrects to make clear Reuters could not determine payments were made under the proposed arrangement, removes reference to Evrofinance Mosnarbank and clarifies that experts see no violation of sanctions)
U.S. stocks edged higher on Tuesday, as upbeat results from Coca-Cola, Twitter and a host of industrial companies allayed investor concerns about slowing profits.
Wall Street’s public opinion of Lyft Inc took a major turn for the positive on Tuesday, after analysts at many of the banks that worked on its initial public offering urged clients to buy the ride hailer’s underperforming shares.
Oil prices hit their highest since November on Tuesday after Washington announced the end of all waivers on imports of sanctions-hit Iranian crude, pressuring importers to stop buying from Tehran.
Sales of new U.S. single-family homes jumped to a near 1-1/2-year high in March, boosted by lower mortgage rates and house prices.
The United States has made a bad mistake by politicizing oil and using it as a weapon, Iran’s Oil Minister Bijan Zanganeh said in a parliamentary session on Tuesday, the Islamic Republic News Agency (IRNA) reported.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
