EV maker Faraday Future’s co-founder Nick Sampson steps down: Verge
Chinese electric vehicle developer Faraday Future’s co-founder Nick Sampson has resigned, tech news website Verge reported on Tuesday, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs.
Wall Street edges back, helped by bargain hunters
Major U.S. stock indexes posted modest gains on Tuesday, helped by gains for chip stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.
Exclusive: Buyout firms Bain, CVC compete for Papa John’s – sources
Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John’s International Inc , the world’s third-largest pizza delivery company, people familiar with the matter said on Tuesday.
Third Point, Campbell spar over plans for company’s future
Investment firm Third Point LLC and Campbell Soup Co squared off over plans for the company’s future on Tuesday, with the hedge fund pushing for hiring a “highly qualified” chief executive officer and the company saying it was already searching for a …
U.S. leads equities higher on hopes of U.S.-China trade deal
Broad gains in the U.S. equity market boosted a measure of global stock markets on Tuesday after President Donald Trump said a “great deal” could be struck with China that would relieve fears of a growing trade war between the world’s two largest econ…
Fiat Chrysler’s lower cash forecast overshadows special dividend pledge
Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lower net cash forecast and its over-reliance on the North American market weighed on its shares.
Pfizer revenue worse than expected as generic competition weighs
Pfizer Inc on Tuesday reported worse-than-expected third quarter revenue and lowered the top end of its full-year sales forecast as generic competition and drug pricing pressure in the United States hurt its older drugs business.
Mastercard shares slide as quality of revenue growth disappoints
Mastercard’s shares reversed course to fall sharply in afternoon trading on Tuesday as investors worried the company’s third-quarter revenue growth was largely being driven by rebates and incentives and not by transaction volumes.
Ex-Valeant, Philidor executives get prison for fraud
A former executive at Valeant Pharmaceuticals International Inc and the former head of a start-up mail-order pharmacy were sentenced to one year in prison on Tuesday after being convicted of defrauding the drugmaker through a secret kickback scheme.
Oil prices down more than $1 on rising supply, trade war
Oil prices dropped more than $1 a barrel in choppy trading on Tuesday on signs of rising supply and concern that global economic growth and fuel demand will fall victim to a deepening of the U.S.-China trade war.
