Business & Finance News
Volkswagen Chief Executive Herbert Diess apologised to the company’s supervisory board for having made “inappropriate and wrong” statements at an internal event, the carmaker said on Tuesday.
Ian Taylor, who built Vitol into the world’s biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.
Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.
U.S. stocks opened lower on Tuesday as investors turned cautious ahead of a Federal Reserve meeting that could offer views on the recent signs of economic recovery that drove the tech-heavy Nasdaq to an all-time high.
U.S. jewelry chain Tiffany & Co said on Tuesday that it amended some of the terms of its debt to give it financial breathing space, as it seeks to ensure that its $16.2 billion sale to French luxury goods giant LVMH is completed.
Wall Street’s main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve’s policy meeting.
(This June 8 story corrects GDP decline in paragraph 6 to 5.0% from 4.8%)
The coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the “worst year in the history of aviation”, the sector’s main global body predicted on Tuesday.
European Trade Commissioner Phil Hogan confirmed on Tuesday that he was considering a bid to become the next director-general of the World Trade Organization, a post that will become vacant at start of September.
As Sharif Uddin contemplates leaving the cramped Singapore dormitory where he has spent weeks under coronavirus quarantine, fears about his future creep in.
Macy’s Inc said on Tuesday its 450 reopened stores were performing better than expected, giving some respite for the department store chain that reported nearly $1 billion in quarterly operating losses due to COVID-19 lockdowns.
Ian Taylor, who built Vitol into the world’s biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.
U.S. luxury jeweler Tiffany & Co said on Tuesday it had amended certain of its debt agreements in order to have sufficient liquidity to navigate the coronavirus outbreak as it posted a 43% slump in quarterly sales.
A little-known Indian IT firm offered its hacking services to help clients spy on more than 10,000 email accounts over a period of seven years.
U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve’s two-day policy meeting.
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