Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid claims: sources
OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion, two people familiar with the matter said on Tuesday.
Timeline: Autonomous car pioneer Levandowski faces criminal charges of stealing from Alphabet
The U.S. Department of Justice on Tuesday filed criminal charges against Anthony Levandowski, accusing the former high-ranking Alphabet Inc engineer of stealing the company’s self-driving car technology before joining rival Uber Technologies Inc .
Oil strengthens in volatile trade ahead of expected U.S. crude drawdown
Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.
American Airlines ‘confident’ of Boeing 737 MAX flying this year: executive
American Airlines Group Inc is “confident” that its Boeing Co 737 MAX aircraft will fly this year, in time for the holidays, Senior Vice President of Customer Experience Kerry Philipovitch told reporters on Tuesday.
Stocks trade flat as recession fears simmer, gold gains
A gauge of global equities traded little changed on Tuesday, pulled lower by sliding stocks on Wall Street as prospects of a U.S.-China trade deal remained uncertain and demand for U.S. Treasuries and precious metals rose on recession fears.
Papa John’s hires Arby’s head as CEO to drive turnaround
Papa John’s International Inc on Tuesday named Arby’s Restaurant Group Inc President Rob Lynch as its chief executive officer, replacing Steve Ritchie barely 19 months after he took the role, sending shares of the world’s third-largest pizza chain up n…
Wall Street dips as financials weigh, trade hopes dim
Wall Street slipped on Tuesday, weighed down by financial stocks as a deepened yield curve raised U.S. recession worries, while uncertainty reigned on the progress of trade negotiations between the U.S. and China.
Oil strengthens in volatile trade ahead of expected U.S. crude build
Oil prices rose in highly volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.
Fed rejects call to deny Trump rate cuts; Trump keeps up pressure
The U.S. central bank on Tuesday rejected a call from a former Federal Reserve policymaker to counter President Donald Trump’s trade agenda by refusing to “play along” and denying the president the interest rate cuts he has demanded.
New York Fed among six banks voting in July for no change in discount rate
Underscoring discord at the U.S. central over interest-rate policy, directors at half of the Federal Reserve’s regional Fed banks — including those at the influential New York Fed — wanted to keep the emergency lending rate for commercial banks uncha…
