Business & Finance News
OPEC said on Tuesday it had cut oil production steeply under a global supply deal, although it flagged headwinds confronting its efforts to prevent a glut this year including weaker demand and higher rival output.
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela.
Wells Fargo & Co expects its net interest income, a key measure of bank profitability, to be up or down 2 percent for the year in 2019, depending on deposit pricing and loan growth.
Goldman Sachs Group Inc Chief Executive Officer David Solomon said on Tuesday the bank aims to boost the number of mid-size corporate clients it serves over the next few years.
Bank of England Governor Mark Carney said on Tuesday Britain should be under no illusions about the likely shock to its economy if it leaves the European Union next month without a transition deal to ease the shock.
Marlboro maker Altria said on Tuesday it would issue bonds in the United States to help fund its purchase of a stake in fast-growing e-cigarette company Juul, a day after announcing a similar move in the European bond market.
The United States is fine with companies competing in global markets but it must be done in an open and transparent way, U.S. Secretary of State Mike Pompeo said on Tuesday when questioned about the role of Chinese firms such as Huawei.
Under Armour Inc expects a mid-single digit fall in its first-quarter revenue in North America, the footwear maker said on a post-earnings conference call on Tuesday.
Lyft Inc founders are preparing to take near-majority voting control of the ride-hailing company when it goes public this year, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.
Shares of Electronic Arts Inc jumped 8 percent on Tuesday after the videogame maker said 25 million players signed up for its new battle royal game “Apex Legends”.
Wall Street was set to open higher on Tuesday, buoyed by a tentative deal reached by U.S. lawmakers to avoid another partial government shutdown and after the United States and China expressed optimism about the ongoing trade talks.
World shares and bond yields rode a renewed surge in risk appetite on Tuesday as investors turned optimistic about U.S.-China trade talks and cheered Washington’s deal to avoid another government shutdown.
Oil prices gained more than 2 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela.
Deutsche Post DHL has hired hundreds of workers to deal with new customs procedures expected to be imposed after March 29, when Britain is due to leave the European Union, an executive said on Tuesday.
The United States is fine with companies competing in global markets but it must be done in an open and transparent way, U.S. Secretary of State Mike Pompeo said on Tuesday when asked on the presence of Chinese firms such as Huawei.
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