Ford to invest $4 billion in new self-driving vehicle unit
Ford Motor Co said it would invest $4 billion through 2023 in its newly formed autonomous vehicle unit, Ford Autonomous Vehicles LLC, as it looks to produce self-driving cars in the next three years.
Biogen easily tops Street estimates on Spinraza sales, raises forecast
Biogen Inc reported far better-than-expected second quarter profit on Tuesday, driven by strong demand of its Spinraza muscle disease treatment, and the U.S. biotech company raised its full-year profit forecast.
World stocks hit one-month high after tech earnings
Global equity markets hit their highest in a month on Tuesday, as stellar results from Google parent Alphabet underpinned tech stocks and China promised fiscal action to support the world’s second-largest economy.
Buy yen in crisis? Not this year
The trade is familiar to investors worldwide: in times of turmoil, rush for cover by buying the Japanese yen.
Alphabet boosts Wall Street, pushes Nasdaq to record high
U.S. stock indexes climbed on Tuesday and the Nasdaq hit a new record high as Google-parent Alphabet’s strong quarterly results reaffirmed expectations of a robust earnings season and sparked a rally among technology shares.
Italy government delays, amends reform of small lenders
Italy’s government agreed on Tuesday to delay a reform of small banks, slowing an overhaul planned by the former center-left government and backed by the European Central Bank.
IMF says dollar over-valued, Chinese yuan in line with fundamentals
The International Monetary Fund said on Tuesday that the U.S. dollar is over-valued, China’s yuan is in line with fundamentals and nearly half of global current account balances are now excessive, adding to growth risks and trade tensions.
Eli Lilly to take animal health unit public, profit beats estimates
Eli Lilly and Co announced on Tuesday it would take its Elanco animal health business public and posted better-than-expected quarterly profit, helped by demand for its diabetes drugs Trulicity and Humalog.
Volkswagen poaches BMW engine development expert Duesmann
Volkswagen has recruited BMW engine development and purchasing expert Markus Duesmann, it said on Tuesday, bolstering its management board with a potential candidate for the CEO vacancy at its Audi premium brand.
China stimulus hopes lift world shares to one-month high
World shares hit their highest in a month on Tuesday, as China promised fiscal action to support the world’s second-largest economy and stellar results from internet giant Alphabet underpinned tech stocks.
