Business & Finance News
Canada is failing to make concessions needed to reach a deal with the United States for a trilateral NAFTA pact, and is running out of time before Washington proceeds with a Mexico-only agreement, U.S. Trade Representative Robert Lighthizer said on Tuesday.
Japan and the United States have reached a broad understanding over how to promote bilateral trade and may announce specifics on Wednesday, Economy Minister Toshimitsu Motegi was quoted as saying after meeting U.S. Trade Representative Robert Lighthizer.
Stacy Bash-Polley, who plays a key role with clients in Goldman Sachs Group Inc’s trading business, plans to retire at year-end, according to an internal memo sent on Tuesday.
Arby’s-owner Inspire Brands Inc said on Tuesday it would buy Sonic Corp for about $1.57 billion in cash, adding more than 3,600 drive-in restaurants to its portfolio that includes brands such as Buffalo Wild Wings and Rusty Taco.
Crude oil prices shot to a four-year high on Tuesday, catapulted by imminent U.S. sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply.
U.S. fashion group Michael Kors agreed to buy luxury designer Versace for 1.83 billion euros including debt on Tuesday in the latest foreign takeover of an Italian brand.
U.S. stocks were little changed on Tuesday, as higher oil prices lifted energy stocks and banks rose in anticipation of an interest rate hike, but losses in Facebook and chipmakers weighed on the market.
Shares of Facebook Inc fell more than 2 percent in early trading on Tuesday after the two founders of photo-sharing app Instagram left the social networking giant under unexplained circumstances.
Denmark has bolstered defenses against shocks to its financial system after a risk-assessment body said the sector’s stability could be threatened by the Danske Bank money laundering scandal.
U.S. stocks opened higher on Tuesday as the energy sector gained from oil prices hitting four-year highs, while bank stocks rose in anticipation of a Federal Reserve rate hike.
Qualcomm Inc on Tuesday alleged that Apple Inc stole its trade secrets and gave them to Intel Corp with the goal of improving Intel’s chips so Apple could replace Qualcomm’s chips, the latest move in a drawn-out legal dispute.
Canadian Prime Minister Justin Trudeau on Tuesday took a cautious line over talks to update NAFTA, saying he saw a possibility that Canada could build on a bilateral deal that the United States and Mexico have already agreed.
Wall Street was set to open higher on Tuesday, as energy companies gained with oil prices at four-year highs and bank stocks rose in anticipation of a Federal Reserve rate hike.
Denmark on Tuesday doubled capital buffers to bolster stability that its financial risk-assessment body said could be threatened by the Danske Bank money laundering scandal.
European shares rose and Wall Street was set for a stronger open on Tuesday, as oil above $80 a barrel lifted energy shares, despite worries around the latest U.S.-China tariff round and central bank rate hikes.
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