Business & Finance News
U.S. drugmaker Pfizer Inc’s third-quarter profit rose nearly 45 percent, driven by lower tax rates and higher sales of breast cancer drug Ibrance and pneumonia vaccine Prevnar.
General Electric Co slashed its quarterly dividend to just 1 cent per share and said it was reorganizing its power unit into two businesses as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.
Oil prices fell on Tuesday, depressed by concerns that the U.S.-China trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran.
European shares slipped back into the red and China’s yuan hit a 10-year low on Tuesday, as the prospect of another escalation in the U.S.-Sino trade war compounded the recent gloom in global markets.
Apple Inc on Tuesday is expected to unveil updates to its Mac computers and iPads that include facial recognition features that have been available in the iPhone lineup at an event in Brooklyn.
U.S. supermarket chain Kroger Co is expected to order the first three of 20 high-tech warehouses from online grocer Ocado by the end of the year under the terms of a breakthrough deal agreed in May.
Volkswagen Chief Financial Officer Frank Witter on Tuesday said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry leader.
Malaysia will file a legal challenge to a settlement agreement between scandal-plagued state fund 1MDB and Abu Dhabi sovereign fund IPIC negotiated during the premiership of former leader Najib Razak, its attorney general said on Tuesday.
Swiss private bank Julius Baer does not expect the U.S. sentencing of one of its former Latin America executives to have any bearing on the bank’s U.S. legal issues, it said on Tuesday.
Volkswagen reported a smaller than expected 18.6 percent drop in third-quarter adjusted operating profit, boosting its shares despite weaker vehicle sales tied to the introduction of more stringent anti-pollution rules.
Oil prices slipped on Tuesday, depressed by concerns that the U.S.-China trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran.
High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency (IEA) said on Tuesday.
Citigroup has been granted a license to set up a branch of Citibank at Abu Dhabi Global Market (ADGAM), a financial center in Abu Dhabi, it said on Tuesday.
Asian shares clawed back earlier losses on Tuesday as China made a fresh attempt to stabilize its stock markets although activity was choppy with investors cautious about further escalations in the Sino-U.S. trade war.
The boss of carmaker Bentley said failure to reach a Brexit deal would be “quite damaging” to annual profit in the worst case scenario, limit the company’s ability to invest and could lead to its plant closing for an additional few days.
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