Exclusive: Occidental Petroleum explores sale of pipeline assets – sources
Occidental Petroleum Corp is exploring a sale of its pipeline assets, hoping to fetch more than $5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday.
U.S. safety board to hold hearing on fatal Southwest engine failure
The National Transportation Safety Board said on Tuesday it will hold an investigative hearing in November about a midair incident in April in which an engine on a Southwest Airlines Boeing 737 exploded over Pennsylvania, killing one passenger.
Trump’s daughter to shutter fashion line, focus on government
U.S. President Donald Trump’s oldest daughter, Ivanka Trump, is closing her fashion line to focus her energies on advising her father’s White House, she said through a representative on Tuesday.
U.S. to narrow opioid bribe case against Insys founder, others
U.S. prosecutors on Tuesday said they will narrow a case against several former Insys Therapeutics Inc executives accused of bribing doctors to prescribe a potent opioid after a federal judge questioned the scope of the indictment charging them.
Wall Street lifted by Alphabet; oil, metal prices boost
The Nasdaq Composite hit a record high on Tuesday as Alphabet’s blowout results sparked a rally in high-growth stocks and bolstered expectations of a robust earnings season, while a rise in oil and metal prices boosted energy and material companies.
Ford follows GM’s Cruise move with self-driving spinoff
Ford Motor Co said on Tuesday it was creating a separate $4 billion unit to house its self-driving vehicle operations and is seeking outside investors, following a similar move in late May by Detroit rival General Motors Co with its Cruise Automation…
Lilly plans Elanco IPO, posts quarterly profit above estimates
Eli Lilly and Co said on Tuesday it would take its Elanco animal health business public and posted a better-than-expected quarterly profit, helped by demand for its diabetes drugs Trulicity and Humalog.
Alphabet lifts Nasdaq to record high; oil, metal prices boost
The Nasdaq Composite hit a record high on Tuesday as Alphabet’s blowout results sparked a rally in high-growth stocks and bolstered expectations of a robust earnings season, while a rise in oil and metal prices boosted energy and material companies.
Factbox: Strong U.S. dollar hurts U.S. firms across multiple industries
A rapid rise in the dollar has hurt second-quarter financial results and some U.S. companies are warning that the pressure could persist in future quarters.
Verizon beats profit, revenue estimates, misses on subscribers
Verizon Communications Inc on Tuesday reported quarterly profit and revenue that topped estimates but added fewer-than-expected monthly subscribers amid a dearth of special promotions.
