Business & Finance News
The Sackler family – owners of Purdue Pharma – transferred more than $10 billion in a decade from the OxyContin maker to its trusts and holding companies, the New York Times reported on Monday, citing a new audit commissioned by the drugmaker.
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker.
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy.
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker.
U.S. stocks paused after a four-day rally, but still hovered around record levels on Tuesday, while a fall in Boeing’s shares weighed on the Dow as the crisis surrounding the planemaker’s 737 MAX jet deepened.
Shares of Boeing Co and its global suppliers fell further on Tuesday as analysts began to tally the cost of the U.S. planemaker’s decision to suspend production of 737 MAX jets in January, its biggest assembly-line halt in more than two decades.
Thirteen prominent banks and financial services companies agreed to pay $337 million to resolve claims by investors that they conspired to rig prices of bonds issued by mortgage companies Fannie Mae and Freddie Mac for a decade.
Workers at three Amazon logistics centers in Germany have joined a strike called by trade union Verdi that will last until Saturday as part of a long-running bid for better pay and conditions.
The blue-chip Dow Jones index dipped at the opening bell on Tuesday, pressured by a fall in shares of Boeing as the crisis around its 737 MAX jet deepened, while the S&P 500 and Nasdaq indexes eked out gains.
British defense company BAE Systems said Tom Arseneault would replace Jerry DeMuro as chief executive of its U.S. business, BAE Systems Inc, next year.
Oil rose further above $65 a barrel on Tuesday, supported by hopes that the U.S.-China trade deal will bolster oil demand in 2020 and the prospect of lower U.S. crude supplies.
Southwest Airlines Co said on Tuesday it was cancelling nearly double the number of flights through April than it has done since the Boeing 737 MAX grounding last March amid uncertainty over when the aircraft will fly again.
The Trump administration is finalizing a set of narrow rules to limit exports of sophisticated technology to adversaries like China, a document seen by Reuters shows, in a boon to U.S. industry that feared a much tougher crackdown on sales abroad.
Shares of Boeing Co and its main global suppliers fell on Tuesday after the U.S. planemaker said it would suspend production of its best-selling 737 MAX jet in January, its biggest assembly-line halt in more than two decades.
Boeing Co said on Monday it would suspend production of its best-selling 737 MAX jetliner in January, the firm’s biggest assembly-line halt in more than 20 years, as repercussions of two fatal crashes of the now-grounded aircraft drag into 2020.
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