Business & Finance News
LOS ANGELES (Reuters) – Package delivery company UPS on Tuesday said it will invest $130 million to buy 730 compressed natural gas vehicles and build five more domestic CNG fueling stations as the industry moves to shift from petroleum-burning vehicles to those that use less-polluting alternative fuels.
VIENNA/MOSCOW (Reuters) – Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer group including Iran.
(Reuters) – Futures on the three main U.S. indexes slumped more than a percent on Tuesday as President Donald Trump’s latest threat to impose duties on additional Chinese goods heightened concerns that tit-for-tat tariffs could spiral into a trade war.
MUNICH (Reuters) – Volkswagen suspended Audi boss Rupert Stadler and announced an interim replacement on Tuesday, seeking to steady its most profitable business after German authorities arrested Stadler as part of an emissions probe.
MUNICH (Reuters) – The supervisory board of Audi has suspended Chief Executive Rupert Stadler and appointed Dutchman Bram Schot as an interim replacement, a source familiar with the matter said on Tuesday.
MUNICH (Reuters) – Volkswagen bosses were locked in a second day of hastily convened meetings to address a leadership crisis sparked by the arrest of the head of the carmaker’s Audi brand, sources familiar with the matter said on Tuesday.
LONDON (Reuters) – Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as the trade dispute between the United States and China escalated further.
VIENNA (Reuters) – Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world’s two biggest economies.
HONG KONG/SHANGHAI (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
MUNICH (Reuters) – Audi’s board of directors will resume talks on Tuesday to address a leadership crisis at Volkswagen’s most profitable brand, sources familiar with the matter said, following Audi chief Rupert Stadler’s arrest.
SHANGHAI/HONG KONG (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
ZURICH/LONDON (Reuters) – Swiss drugmaker Roche is paying $2.4 billion to buy the rest of Foundation Medicine (FMI) , raising its bet on the U.S. genomic profiling group’s ability to personalize cancer care.
(This version of the story has been refiled to add dropped word “boards” in paragraph one.)
TOKYO (Reuters) – Asian stocks sank on Tuesday and Shanghai shares tumbled to near two-year lows as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
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