Business & Finance News
U.S. stocks were little changed in choppy trading on Tuesday, as gains in technology sector were offset by losses in shares of consumer discretionary companies including Home Depot and Discovery.
JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Tuesday it expects to face rising costs for deposits, a key part of its business, and slowing global economic growth.
Fiat Chrysler Automobiles NV said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps to compete more effectively in the lucrative market for full-size, three-row SUVs currently dominated by rivals General Motors Co and Ford Motor Co.
Oil futures steadied on Tuesday on signs that OPEC plans to maintain production cuts despite pressure from U.S. President Donald Trump, whose comment criticizing rising crude prices sent the market into a tailspin a day earlier.
Republican Senators John Cornyn and Chuck Grassley said on Tuesday that they would support the powerful Senate Judiciary committee if the panel were to examine the patent system under which drug companies protect the exclusivity of their medicines.
Brazilian state-owned bank Caixa Economica Federal is close to selling a 9-billion-real ($2.4 billion) stake it owns in oil company Petroleo Brasileiro SA, two sources with knowledge of the matter said on Tuesday.
The United Auto Workers union on Tuesday filed suit against General Motors Co over its decision to end production and eliminate thousands of jobs at three U.S. auto plants, saying it violated a 2015 collective bargaining agreement.
Mexico’s president said on Tuesday his government would push for an investigation into the hundreds of millions of dollars squandered by state oil company Pemex after its purchase of two struggling fertilizer plants during the previous administration.
The U.S. economy will grow at a solid though slower pace in 2019 and the Federal Reserve will remain “patient” in deciding whether to further raise interest rates, Fed Chairman Jerome Powell said on Tuesday.
U.S. aerospace manufacturer Boeing Co said on Tuesday it has nominated Nikki Haley, former U.S. ambassador to the United Nations and close ally of President Donald Trump, to join its board of directors at the company’s annual shareholders meeting on April 29.
Macy’s Inc, the largest U.S. department store chain, said on Tuesday it would cut 100 senior management positions to reduce costs and improve profitability, and reported holiday same-store sales growth short of Wall Street’s expectations.
U.S. Senators called drug pricing practices “morally repugnant” and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at the start of a Senate hearing on the rising costs of prescription medicines.
Fiat Chrysler Automobiles NV said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps, hoping to bolster the brand so it can compete more effectively in the lucrative market for large SUVs currently dominated by rivals General Motors Co and Ford Motor Co.
Saudi Arabia’s cabinet approved a license for Standard Chartered to open a unit in the kingdom, the state news agency reported on Tuesday.
Germany’s Hapag-Lloyd is cleared of a U.S. Department of Justice probe into the practices of container shipping companies, with no charges brought, a spokesman said on Tuesday.
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