Business & Finance News
Wall Street posted gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on easing lockdown restrictions and signs of economic recovery.
French luxury goods group LVMH’s board called a meeting in Paris to discuss its $16.2-billion offer for Tiffany & Co amid a deteriorating situation in the U.S. market, fashion trade publication WWD reported https://wwd.com/business-news/mergers-acquisitions/lvmh-tiffany-deal-seen-as-uncertain-sources-1203645650 on Tuesday, citing sources.
The Washington-based Center for Democracy and Technology filed a lawsuit on Tuesday against U.S. President Donald Trump’s executive order on social media, arguing it violates the First Amendment.
Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman said on Tuesday.
Oil prices climbed by more than $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.
U.S. stocks posted modest gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on lifting lockdown restrictions and signs of economic recovery.
A California appeals court on Tuesday heard arguments in the first case that went to trial over allegations that Bayer AG’s glyphosate-based weed killer Roundup causes cancer, resulting in a $289 million judgment against the company.
The U.S. Trade Representative’s office said on Tuesday it was launching a “Section 301” investigation into digital services taxes adopted or under consideration by a number of U.S. trading partners – a move that could lead to new punitive tariffs.
The National Transportation Safety Board (NTSB) on Tuesday urged six major manufacturers to equip turbine-powered helicopters with crash-resistant systems to record data, audio and images, after former NBA star Kobe Bryant and eight others were killed in a helicopter crash in January.
Oil prices climbed about $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.
U.S. bank Goldman Sachs has signed a lease for a new Paris headquarters building, committing to a city centre office development at a time when many banks are weighing scaling back their presence in cities amid the COVID-19 pandemic.
Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns.
The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumer sales were stronger than expected as coronavirus stay-at-home orders began to ease.
France has not attached any major conditions to a 5 billion euro ($5.6 billion) state-backed loan for Renault, the carmaker’s chairman said on Tuesday, although the finance minister called on the company to hold “exemplary” talks with unions.
U.S. issuance of convertible bonds in May hit a record high of $20.7 billion, according to Bank of America data, as companies struggling with the impact of the coronavirus pandemic ventured into the one-time niche market seeking cheaper and easier ways to borrow cash.
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