U.S. consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation that could see the Federal Reserve cutting interest rates on Wednesday for the first time in a decade.
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Five major retailers, including Amazon.com Inc and Walmart Inc, were targeted in lawsuits filed on Tuesday by the University of California over what it called the "existential threat" posed by foreign manufacturers that infringe schools' patents.
U.S. stocks slid on Tuesday after a fresh warning from President Donald Trump to China pressured technology shares, while investors speculated the scale of an interest rate cut at the end of the Federal Reserve's policy meeting.
President Donald Trump on Tuesday said he will pursue a U.S. trade agreement with Brazil, suggesting a friendly relationship with President Jair Bolsonaro could help lower trade barriers between the two biggest economies in the Americas.
Switzerland scrapped a 1.8 million Swiss franc ($1.8 million) sponsorship deal with Philip Morris International for the country's pavilion at Expo 2020 in Dubai after being widely criticized for taking tobacco money to promote its image abroad.
U.S. stocks dipped on Tuesday as U.S.-China trade worries pressured technology shares, while the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into optimism that drove markets to record highs last week.
Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel demand growth in the world's biggest oil user.
Factory activity in China is expected to have contracted for the third month in a row in July, a Reuters poll showed, underlining the intensifying strains on the world's second-biggest economy from a protracted trade war with the United States.
China's Huawei Technologies cemented its dominance of the domestic smartphone market in the second quarter, with shipments and market share rising, as Chinese customers backed the embattled firm amid its trade fight with the United States.
BP has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels, the British company's Chief Financial Officer Brian Gilvary said on Tuesday.
BP's second quarter profits easily beat expectations as a strong increase in oil and gas production helped offset weaker crude prices.
German airline Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes in Germany and Austria as well as rising fuel costs.
China's Huawei Technologies said on Tuesday revenue in the first half of the year grew 23.2% - faster than a year ago - despite an intense U.S. campaign against it that ultimately became a trade ban from mid-May.
German airline Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes and rising fuel costs, adding the European market would likely remain challenging until at least the year's end.