Las Vegas gambler Walters loses insider trading appeal
A federal appeals court on Tuesday upheld the insider trading conviction and five-year prison sentence of famed Las Vegas sports gambler William “Billy” Walters, even as it chastised an FBI agent for leaking grand jury information about the case.
World stocks slip on doubts over trade truce, worries of slowing growth
A key gauge of world equity markets fell on Tuesday as hopes faded for a speedy resolution to the U.S.-China trade spat, while a flattening Treasury yield curve sparked recession warning signs that weighed on the U.S. dollar.
Rolls-Royce partners with AI software maker to predict engine performance
British aero-engine maker Rolls-Royce has partnered with Chicago-based artificial intelligence software maker Uptake to spot possible operational issues in its Trent engine fleet ahead of time, the companies said on Tuesday.
JPMorgan CEO Dimon: Buybacks are for times when stock is cheap
Jamie Dimon, chief executive of JPMorgan Chase & Co, on Tuesday said he favors using the bank’s excess capital to reinvest in its business instead of buying back stock.
DoubleLine’s Gundlach: Treasury curve inversion signal ‘economy poised to weaken’
Jeffrey Gundlach, chief executive officer of DoubleLine Capital, says the U.S. Treasury yield curve inversion on short end maturities are signaling that the “economy is poised to weaken.”
Thomson Reuters to cut 3,200 jobs in next two years
Thomson Reuters Corp said on Tuesday that it will cut its workforce by 12 percent in the next two years, axing 3,200 jobs, as part of a plan to streamline the business and reduce costs.
New Beiersdorf CEO poaches from rivals in management reshuffle
Beiersdorf , the maker of Nivea skin creams, is shaking up its top management team when new chief executive Stefan De Loecker takes over on Jan. 1, poaching managers from rivals Procter & Gamble and Reckitt Benckiser .
Mercedes Benz to hire 600 contractors in Brazil as economy recovers
Mercedes Benz’s Brazil operation will hire some 600 contractors in 2019 on year-long contracts to work on commercial vehicles, adding to a workforce of 10,000, the company said on Tuesday.
Wall Street drops on trade truce doubts, bond market jitters
Banks led Wall Street lower on Tuesday, as a decline in U.S. bond yields set off warning lights about slowing growth, while industrial and technology stocks fell on skepticism over the chances of a breakthrough in the U.S.-China trade talks.
Cut in China tariffs on cars a ‘litmus test’ for trade talks: Kudlow
White House economic adviser Larry Kudlow said on Tuesday that a reduction in Chinese tariffs on U.S. cars and agricultural and energy commodities would be a “litmus test” for whether U.S.-China trade talks are on track to succeed.
