BP exits Alaska with $5.6 billion sale to Hilcorp
British oil major BP said on Tuesday it had agreed to sell its Alaskan operations for $5.6 billion to privately held oil and natural gas explorer Hilcorp Alaska as part of its divestment plans.
SEC fines audit firm RSM $950,000 to settle independence violation claim
The U.S. Securities and Exchange Commission (SEC) said on Tuesday that it fined public accounting firm RSM US LLP $950,000 to settle claims it violated the agency’s auditor independence rules.
Philip Morris in merger talks with Altria; e-cigs at stake
Philip Morris International Inc and Altria Group Inc are discussing an all-stock merger, potentially reuniting two of the world’s largest tobacco companies in a bid to dominate the fast-growing electronic-cigarette market.
Qualcomm targets Wi-Fi market in push to expand beyond phones
Qualcomm Inc on Tuesday announced a new range of Wi-Fi chips designed to work with Wi-Fi 6, the newest version of the technology and one that Qualcomm hopes will help boost sales of its separate 5G chips.
U.S. consumer confidence falls but only slightly despite trade fight
U.S. consumer confidence fell less than expected in August, with households still upbeat about the labor market despite an escalation in trade tensions, which has cast a shadow over the longest economic expansion in history.
U.S. appeals court revives aluminum antitrust cases vs Goldman, JPMorgan, Glencore
A federal appeals court on Tuesday revived lawsuits by aluminum purchasers that accused Goldman Sachs, JPMorgan Chase, mining company Glencore and other companies of conspiring to drive up prices for the metal by reducing supply.
U.S. stocks lose steam as hopes waver for U.S.-China trade deal
Equity indexes on Wall Street gave up earlier gains on Tuesday amid uncertainty over the prospects for a U.S.-China trade deal, while demand for U.S. treasuries and precious metals grew, showing an appetite for less-risky investments.
Wall Street treads water as financials fall, trade hopes flicker
Wall Street treaded water on Tuesday, as a drop in financials and renewed concerns about a U.S. recession offset early optimism about hopes of a resolution to the protracted trade war with China.
Pentagon in talks with Australia on rare earths plant: official
The U.S. Department of Defense is in talks with Australia to host a facility that would process rare earth minerals, part of an effort to reduce reliance on China for the specialized materials used in military equipment, a senior American official said…
Oil turns lower as stock market weakens on trade deal uncertainty
Oil prices were steady to soft on Tuesday, paring earlier gains along with the stock market lower as China dampened optimism for a trade deal with the United States.
