Comcast’s SKY Italia appoints Maximo Ibarra as new CEO
SKY Italia has appointed Maximo Ibarra as its new chief executive effective Oct. 1 as it expands its business, the Italian unit of U.S. media group Comcast said on Tuesday.
U.S. consumer confidence dives, trade tensions hurting economy
U.S. consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labor market conditions amid concerns about a recent escalation in trade tensions between the United States and China.
UPS will not join FedEx lawsuit against U.S. government
United Parcel Service Inc said on Tuesday it would not join a lawsuit FedEx Corp filed against the U.S. government that argues FedEx should not be held liable if it inadvertently shipped products in violation of an export ban.
PG&E bondholders propose bankruptcy reorganization plan worth up to $30 billion
A committee of bondholders of PG&E Corp’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion, primarily equity, to help the California power provider emerge from Chapter 11 and address its liability from wildfires.
Porsche recalls 340,000 cars due to parking problem
Volkswagen’s sports-car brand Porsche has to recall almost 340,000 Cayenne and Panamera vehicles due to problems with their automatic transmission, the German company said on Tuesday.
GM to spend $20 million more on equipment upgrade at Arlington plant
General Motors Co said on Tuesday it would invest an additional $20 million to upgrade equipment at the automaker’s Arlington Assembly plant in Texas, ahead of the launch of full-size sports utility vehicles (SUVs).
Wall St. sinks on trade jitters ahead of Powell speech
Wall Street lost ground on Tuesday as simmering geopolitical and trade concerns, combined with disappointing economic data, kept buyers at bay and investors looked to remarks from U.S. Federal Reserve chair Jerome Powell expected later in the session.
PG&E bondholders propose competing bankruptcy plan worth up to $30 billion
A committee of bondholders of PG&E Corp’s utility unit on Tuesday proposed filing a bankruptcy reorganization plan that would inject up to $30 billion, primarily equity, to help the California power provider emerge from Chapter 11 and address its liability from wildfires.
Wall St. dragged down by Iran tensions, trade worries; Fed in focus
Wall Street’s main indexes slipped on Tuesday, hit by trade jitters and rising tensions in the Middle East, while investors focused on speeches by Federal Reserve officials for clues on monetary policy.
Gold soars to six-year high as trade, as Iran tensions mount
Gold soared to almost a six-year high on Tuesday on escalating U.S.-Iran tensions and U.S.-Sino trade anxiety, leading traders to pile into safe-haven government debt and to snap up the yen and Swiss franc at the expense of the dollar.
