China's Huawei may be facing closer official scrutiny in Europe amid U.S. allegations that it poses a security threat, but mobile operators in the region are still queuing up to buy its gear for their next-generation 5G networks.
Fidelity Investments said on Tuesday it is reviewing its relationship with Ken Fisher after the investment firm leader made "highly inappropriate comments" at a conference last week.
The price of WeWork's U.S. junk bond fell to an all-time low on Tuesday, last trading at 78 cents on the dollar, as the company weighed financing options including a package that may include at least $2 billion of unsecured notes with a 15% coupon.
Oil prices were narrowly mixed on Tuesday, retracing early losses on optimism about a potential Brexit deal and signals from OPEC that further supply curbs are possible, but prices remained under pressure from U.S.-China trade worries and concern about swelling U.S. crude inventries.
Fidelity Investments criticized money manager Kenneth Fisher on Tuesday over what it called inappropriate remarks he made at an investment conference last week, saying it was reviewing the $500 million Fisher's firm manages for the mutual fund giant.
Wall Street rose 1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on Corporate America.
Hedge fund D.E. Shaw on Tuesday increased the pressure on Emerson Electric Co by publicly urging a breakup of the U.S. industrial conglomerate, a move it says could unlock more than $20 billion worth of shareholder value.
Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday.
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Still, Goldman's WeWork writedown was smaller than the $264 million estimate of Morgan Stanley analyst Betsy Graseck.
Quarterly results from four of the largest U.S. banks on Tuesday showed that American consumers are helping to prop up the economy, even as recession fears have led businesses to pull back on spending and borrowing.
Amazon's cloud computing is like a "soft drug", a French minister said on Tuesday, warning that time was running out for Europe to wean itself off the U.S. company's services.
UnitedHealth Group Inc on Tuesday provided an optimistic outlook for 2020 profit, saying it expected growth to be at least 13%, which outpaces current Wall Street estimates and sent its shares up as much as 8.6%.
Wall Street gained 1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on corporate America.
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