Business & Finance News
Wall Street ended its four-day rally on Tuesday as a gloomy global economic growth outlook and disappointing company forecasts dampened investor spirits at the height of fourth-quarter reporting season.
The U.S. Justice Department said on Tuesday it will pursue the extradition of the chief financial officer of China’s Huawei Technologies Co Ltd’s [HWT.UL], arrested in Canada in December.
General Motors Co’s Brazil unit is in advanced talks with Sao Paulo state to receive tax incentives, the company told public officials and union representatives at a meeting on Tuesday, a few days after it said in a memo to workers that it was losing money in Brazil.
A gauge of world stock markets fell on Tuesday as concerns over global growth spurred investors to look toward safe-haven assets such as the Japanese yen and government bonds, with equities extending losses on additional trade worries.
Oil prices fell 3 percent on Tuesday over concerns the world’s stumbling economy could pinch fuel demand as U.S. crude output climbs to new heights and cuts by Saudi Arabia and its allies are smaller than advertised.
U.S. stocks tumbled over 1.5 percent on Tuesday on concerns of global growth after the International Monetary Fund cut its growth forecast, China reported a sharp slowdown and a few U.S. companies gave disappointing earnings outlooks.
James Dyson, the billionaire Brexit supporter who revolutionized vacuum cleaners with his bagless technology, is moving his head office to Singapore from Britain to be closer to his company’s fastest-growing markets.
Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc and are pushing for changes including the sale of some of the e-commerce company’s businesses.
U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
Johnson & Johnson on Tuesday forecast 2019 sales that fell short of analysts’ estimates and said it expected further pressure on U.S. prescription drug prices, weighing on the broader pharmaceutical sector.
The U.S. Justice Department said on Tuesday that it will pursue the extradition of Huawei Technologies Co Ltd’s [HWT.UL] chief financial officer, arrested in Canada in December on allegations that she participated in a conspiracy to defraud banks.
Canada has not asked the United States to abandon its bid to have Huawei executive Meng Wanzhou extradited, Canada’s Foreign Minister Chrystia Freeland said on Tuesday in an interview with Bloomberg TV.
German companies BMW and Daimler will name their combined ride-hailing and car-sharing firm “Jurbey”, a source familiar with the matter said on Tuesday.
Johnson & Johnson and its DePuy Orthopaedics unit have agreed to pay $120 million to resolve deceptive marketing claims by several U.S. states over the company’s metal-on-metal hip implants.
Johnson & Johnson and its DePuy Orthopaedics unit have agreed to pay $120 million to resolve deceptive marketing claims by several U.S. states over the company’s metal-on-metal hip implants.
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