Business & Finance News
Amgen Inc on Tuesday said competition for its older drugs sent third-quarter revenue down 3%, but biosimilar sales were strong and the company raised its full-year outlook.
Global stocks faltered on Tuesday as strong earnings from U.S. drugmakers Merck and Pfizer and expectations the Federal Reserve will cut rates was offset by a potential delay in a U.S.-China trade deal, which clouded sentiment and weakened the dollar.
Daimler is recalling some new Mercedes-Benz EQC electric cars because of a potentially defective bolt in the differential, the company said on Tuesday.
General Motors Co expects to spend more on developing and selling electric vehicles (EVs) than gasoline-powered cars over the next five years, Chief Executive Mary Barra said on Tuesday.
Johnson & Johnson said on Tuesday that 15 new tests found no asbestos in a bottle of baby powder that the U.S. Food and Drug Administration previously said had tested positive for trace amounts of asbestos.
Rules to implement a White House executive order declaring a national emergency in the telecoms supply chain are “under consideration and review” at the Department of Commerce, an agency official said on Tuesday.
The S&P 500 edged lower to snap a four-session win streak on Tuesday and it retreated from a record high as investors grappled with a flood of earnings and the latest update on a potential trade deal between the U.S. and China.
Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion automaker, a source familiar with the matter said on Tuesday.
Mattel Inc reported a surprise jump in quarterly revenue on Tuesday as newer models energized demand for its flagship Barbie brand, while the launch of dolls based on Korean pop-sensation BTS lifted international sales.
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,300 MW in 2018, according to U.S. Energy Information Administration (EIA) and Thomson Reuters data.
Murray Energy Corp, one of the largest privately-held U.S. coal miners, whose founder is an outspoken supporter of President Donald Trump, became the latest in a string of coal companies to file for bankruptcy on Tuesday as generators shift to cleaner-burning natural gas and renewable energy.
Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion automaker, the Wall Street Journal reported on Tuesday, citing sources.
Boeing Co Chief Executive Dennis Muilenburg faced intense grilling by U.S. lawmakers at a hearing on Tuesday over what the company knew about its MCAS stall-prevention system linked to two deadly crashes, and about delays in turning over internal 2016 messages that described erratic behavior of the software in a simulator.
Uber Technologies Inc said it would not share real-time location data of its electric bike riders with the city of Los Angeles, saying it would violate their privacy.
Shares of Beyond Meat Inc plunged more than 20% on Tuesday as investors rushed to cash in after a restriction on selling stock lifted and worries mounted about rising costs and increased competition at the hugely popular plant-based meat producer.
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