Business & Finance News
U.S. stocks mostly edged lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America’s results reinforced expectations of a strong U.S. earnings season.
U.S. arms makers attending the Farnborough Airshow in Britain on Monday lauded the U.S. government’s push to sell more weapons overseas and said they expected European defense spending to increase in the coming years.
Ford Motor Co agreed to a $299.1 million so-called economic loss settlement covering at least 6 million U.S. vehicles with potentially faulty Takata air bag inflators, court documents filed in a federal court in Miami on Monday show.
Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.
U.S. stocks mostly edged lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financial stocks as Bank of America’s results reinforced expectations of a strong U.S. earnings season.
Federal Communications Commission Chairman Ajit Pai questioned Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co , in a surprise decision that could potentially scuttle the deal and sent shares of both companies tumbling.
The chairman of Germany’s Thyssenkrupp has resigned, following the company’s chief executive under pressure from activist shareholders demanding a radical restructuring of the embattled industrial conglomerate.
Britain unveiled a model of a sleek proposed fighter jet named Tempest on Monday, raising questions about the future of European defense cooperation, given that Germany and France launched their own fighter jet program a year ago.
Brazil’s government will go ahead with the auction of one of state-owned utility Eletrobras’ power distributors planned for July 26, while delaying five others to Aug. 30, Planning Minister Esteves Colnago told Reuters on Monday.
Shares of Tesla Inc fell 3.5 percent on Monday after Chief Executive Elon Musk directed abuse on Twitter at one of the British cave divers involved in the rescue of 12 Thai children last week.
The Federal Communications Commission has the three votes needed to approve a draft order sending Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co to an administrative hearing, an official said on Monday.
Pratt & Whitney’s Chief Executive Greg Hayes said on Monday his company will be able to overcome supply chain problems to ramp up engine production next year as planemakers’ orders swell.
A draft Federal Communications Commission order seen by Reuters on Monday said that Sinclair Broadcast Group Inc’s application for approval to purchase Tribune Media Co may “involve deception.”
U.S. retail sales rose solidly in June as households boosted purchases of automobiles and a range of other goods, cementing expectations for robust economic growth in the second quarter.
Federal Communications Commission Chairman Ajit Pai said on Monday he has “serious concerns” about Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co, an announcement that could scuttle the deal.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
