Walmart India venture Flipkart loses CEO to misconduct probe
The head of Walmart Inc’s Indian venture Flipkart Group, Binny Bansal, has resigned following a probe into “serious personal misconduct”, a shock to the U.S. retailer’s efforts to compete with Amazon in India’s huge consumer market.
Tyson Foods quarterly sales miss estimates
Tyson Foods Inc reported quarterly sales on Tuesday that missed Wall Street estimates, as the top U.S. meat processor was hit by lower demand for chicken.
GE to sell portion of stake in Baker Hughes
General Electric Co is selling a portion of its stake in oilfield services provider Baker Hughes , the U.S. industrial conglomerate said on Tuesday, its latest move to raise cash and repay debt.
Risking Trump ire, OPEC builds case for oil supply cut
OPEC built a case on Tuesday for cutting oil output when it meets next month, warning that a supply glut could emerge in 2019 as the world economy slows and rivals increase production more quickly than expected.
Hedge fund Elliott says Hyundai Motor Group has too much capital
U.S. hedge fund Elliott Management said on Tuesday Hyundai Motor Group was holding excess capital and that shareholder returns from the Korean automotive group were lagging industry standards.
Oil majors spending ‘sweet spot’ to last to 2020: BlackRock
Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world’s largest asset manager, said on Tuesday.
You can’t copyright taste, EU court says in setback for food industry
Europe’s top court dealt the food industry a blow on Tuesday as it dismissed an attempt by a Dutch cheese maker to copyright its cream cheese, saying that the taste of a food product does not qualify for copyright protection.
Trump’s steel tariffs create big profits but few new jobs
Nucor Corp, America’s largest steelmaker, planned a new plant in Sedalia, Missouri, long before U.S. President Donald Trump imposed tariffs to protect the industry – and it does not need them to make money.
Walmart, Home Depot adopt health insurer tactic in drug copay battle
Walmart and Home Depot , two of the top 10 U.S. employers, have embraced a health insurance strategy that punishes drugmakers for using discount cards to keep patients from switching or stopping their medications.
U.S. most-favored equity region, tech allocations down: BAML survey
Despite market wobbles, the United States is the most favored equity region for global fund managers, who broadly expect the S&P500 index to rise another 12 percent before peaking, Bank of America Merrill Lynch’s latest investor survey showed on Tuesday.
