Business & Finance News
Germany’s Daimler has suspended a local sales franchise for its Mercedes-Benz brand in China after a customer complaint about service from the dealership went viral on social media.
U.S. stocks edged higher on Tuesday, as an advance in technology shares and a jump in Johnson & Johnson following strong results countered losses in UnitedHealth and Bank of America.
Bank of America Corp on Tuesday reported first-quarter revenue that fell short of expectations and predicted that net interest income would rise half as fast this year, sending its shares down.
Johnson & Johnson on Tuesday reported a first-quarter profit that exceeded Wall Street expectations on higher sales of its prescription medicines, including a double-digit increase for its psoriasis treatment Stelara, even as the company faces fierce competition for some of its other important drugs.
Stocks around the globe rose on Tuesday to six-month highs after U.S. healthcare companies posted strong earnings and data provided reassurance about economic sentiment in Germany.
The U.S. economy is speeding up again after a slowdown in recent months and cash could soon start rushing into stocks as most investors are underinvested in the markets globally, BlackRock Inc’s Chief Executive Larry Fink said on Tuesday.
A Kenyan family has filed a lawsuit in Chicago against American aviation giant Boeing over a March 10 Ethiopian Airlines crash that killed 157 people, lawyers and family members said on Tuesday.
China’s stimulus measures will shore up economic growth this year and next but may undermine the country’s drive to control debt and worsen structural distortions over the medium term, the OECD said in a report on Tuesday.
India’s Jet Airways Ltd will be forced to shut down as soon as Wednesday if it does not get emergency funding from its lenders, two sources familiar with the situation said.
U.S. stocks rose on Tuesday, powered by stellar results from healthcare conglomerate Johnson & Johnson and gains in technology stocks, with the benchmark S&P 500 less than a percent away from its all-time high.
Oil held above $71 a barrel on Tuesday, supported by falling Venezuelan and Iranian exports and fighting in Libya that raised concerns of more supply threats, outweighing expectations of higher U.S. inventories.
U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017.
BlackRock Inc, the world’s largest asset manager, reported first-quarter profit that exceeded expectations and raked in $65 billion of new investor cash as global financial markets rebounded from a volatile fourth quarter.
Activist investment firm Starboard Value has taken a new position in KAR Auction Services, the firm’s founder Jeffrey Smith said at a conference on Tuesday.
U.S. stocks opened higher on Tuesday, taking the S&P 500 to less than a percent away from an all-time high, after better-than-expected results from healthcare giants UnitedHealth and Johnson & Johnson.
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