General Electric’s machinists oppose tentative labor deal
The machinists union said on Wednesday it opposes a tentative labor contract reached this week with General Electric Co, potentially impeding the Boston-based conglomerate’s efforts to avoid labor unrest during a difficult period.
Bayer seeks outside advice on litigation as Elliott reveals stake
Chemicals giant Bayer, under pressure from activist shareholders, said on Wednesday it has hired an external lawyer to advise its supervisory board and has set up a new committee to resolve a multi-billion dollar glyphosate litigation issue.
Oil prices rise more than 2% as U.S. crude, products stockpiles fall
Oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a larger-than-expected drawdown in crude stocks as exports hit a record high, and surprise drops in refined product stockpiles….
Resurgent health insurer stocks face test at Democratic debates
Shares of U.S. health insurers that have rebounded in the past two months could come under pressure this week as Democrats square off in their first presidential debates, with healthcare policy reform potentially high on the agenda.
Autonomy founder Lynch denies wrongdoing in HP fraud case
Mike Lynch, once hailed as Britain’s answer to Bill Gates, denied all claims against him on Wednesday when he kicked off what is expected to be a month-long testimony in his multibillion-dollar fraud battle with Hewlett-Packard (HP).
Boeing looms large over struggling U.S. manufacturing sector
New orders for long-lasting U.S.-made goods fell for a second straight month in May as troubles at Boeing weighed on demand for aircraft, suggesting manufacturing could remain weak even as business spending on equipment appears to stabilize.
Tesla’s senior production executive at Fremont facility quits: source
Tesla Inc’s vice president of production at its Fremont factory, Peter Hochholdinger, has left after three years with the electric-car maker, a source familiar with the matter told Reuters.
Volkswagen’s Traton sets price range for IPO at 27-28 euros a share
Volkswagen’s truck unit Traton narrowed the price range for its initial public offering (IPO) to between 27 euros ($30.74) and 28 euros a share, the lower end of its earlier 27 euros to 33 euros price range, a bookrunner said on Wednesday.
Wall St. rises on tech gains, trade hopes
U.S. stocks rose on Wednesday as gains in chipmaker Micron boosted the technology sector and comments from Treasury Secretary Steven Mnuchin fueled hopes that the United States and China were making progress in their trade talks.
Tesla’s top production executive at Fremont facility quits: source
Tesla Inc’s vice president of production at its Fremont factory, Peter Hochholdinger, has left after three years with the electric-car maker, a source familiar with the matter told Reuters.
