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Updated: 4 years 27 weeks ago

Wall Street retreats after rally; Fed meeting in focus

Tue, 06/09/2020 - 09:33
U.S. stocks fell on Tuesday as investors paused 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 in the previous session.
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Corning wins U.S. funding for glass vials output for COVID-19 vaccines

Tue, 06/09/2020 - 09:26
Glass maker Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost manufacturing capacity of its vials that will be used to package coronavirus vaccines and treatments.
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Volkswagen CEO apologised to supervisory board for 'inappropriate' remarks

Tue, 06/09/2020 - 09:22
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.
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Vitol veteran Taylor, who transformed oil trade, dies aged 64

Tue, 06/09/2020 - 09:12
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.
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Corning wins U.S. funding to boost glass vial manufacturing for COVID-19 therapies

Tue, 06/09/2020 - 09:00
Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost the manufacturing capacity of its glass vials after the company was selected as a packaging provider for COVID-19 vaccines and treatments.
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Oil dips on oversupply concerns and stronger dollar

Tue, 06/09/2020 - 08:53
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.
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Wall Street opens lower as focus shifts to Fed meeting

Tue, 06/09/2020 - 08:45
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.
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Factbox: Why Tiffany's debt obligations matter for its sale to LVMH

Tue, 06/09/2020 - 08:31
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.
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Airline industry headed for $84 billion loss this year: IATA

Tue, 06/09/2020 - 08:16
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.
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Wall Street set to fall as rally pauses ahead of Fed meeting

Tue, 06/09/2020 - 08:10
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.
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Europe turns red as bulls run out of charge

Tue, 06/09/2020 - 08:09
Soaring stocks stalled on Tuesday and high-flying currencies such as the euro and Australian dollar lost altitude, as a weeks-long risk rally hit turbulence.
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U.S. economy entered recession in February, business cycle arbiter says

Tue, 06/09/2020 - 08:08
(This June 8 story corrects GDP decline in paragraph 6 to 5.0% from 4.8%)
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EU trade chief Hogan says he is considering bid to become WTO chief

Tue, 06/09/2020 - 07:49
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.
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Tiffany amends debt agreements amid LVMH deal, sales slump

Tue, 06/09/2020 - 07:44
U.S. luxury jeweler Tiffany & Co , which is being bought by France's LVMH for $16 billion, said on Tuesday it had amended some of its debt agreements to bolster its liquidity amid the coronavirus pandemic after its quarterly sales sank 44%.
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Singapore's migrant workers fear financial ruin after virus ordeal

Tue, 06/09/2020 - 07:31
As Sharif Uddin contemplates leaving the cramped Singapore dormitory where he has spent weeks under coronavirus quarantine, fears about his future creep in.
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Oil down on stronger dollar, oversupply concerns

Tue, 06/09/2020 - 06:51
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.
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Macy's says reopened stores performing better than expected

Tue, 06/09/2020 - 06:49
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.
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Vitol veteran Ian Taylor dies after long cancer illness

Tue, 06/09/2020 - 06:46
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.
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Tiffany gets certain regulatory clearances for LVMH deal, sales slump

Tue, 06/09/2020 - 06:06
U.S. luxury jeweler Tiffany & Co said on Tuesday it had received antitrust clearances from Mexican and Russian authorities to go ahead with its $16.2-billion purchase by French giant LVMH .
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Futures fall as recovery rally pauses ahead of Fed meeting

Tue, 06/09/2020 - 06:00
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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