Caterpillar shares up on earnings beat; cuts 2016 outlook
(Reuters) – Caterpillar Inc reported better-than-expected second quarter earnings on Tuesday, lifting its shares, but the heavy machinery maker also lowered its full-year forecast amid sluggish demand in mining and other industries.
German prosecutors widen Volkswagen probe to 21 staff
FRANKFURT (Reuters) – Prosecutors in the German city of Braunschweig said they had widened their probe into diesel emissions cheating, with 21 current and former Volkswagen staff under investigation.
McDonald’s comparable sales growth misses estimates; shares fall
(Reuters) – McDonald’s Corp reported much lower-than-expected quarterly sales growth at established restaurants in the United States and the fast-food chain said it faced “a challenging environment in several key markets.”
Swiss to pass information on HSBC accounts to U.S. tax agency
ZURICH (Reuters) – Switzerland said it plans to give information to U.S. tax authorities about accounts at HSBC Holdings Plc’s Swiss private bank, as part of a U.S. investigation into tax evasion.
Exclusive: Teva, Mylan eye Pfizer’s Brazil venture, sources say
SAO PAULO (Reuters) – Teva Pharmaceutical Industries Ltd and Mylan NV have shown preliminary interest in a Brazilian generic drugmaking joint-venture in which Pfizer Inc has a 40 percent stake, two people familiar with the process said.
No choppers yet: yen jumps before Bank of Japan meeting
LONDON (Reuters) – A buoyant yen and a fall in oil prices to their lowest since early May put stock markets on the defensive on Tuesday, as investors position for central bank meetings in the United States and Japan.
Daimler’s mytaxi to merge with Hailo to take on Uber
FRANKFURT (Reuters) – Daimler’s mytaxi said it will merge with British rival Hailo in an all-share deal, creating Europe’s largest smartphone-based taxi-hailing business.
Porsche to create more than 1,400 jobs for electric car
STUTTGART, Germany (Reuters) – Porsche has raised the number of jobs it will create for the production of its first all-electric sports car to more than 1,400 from more than 1,000 previously, the manufacturer said on Tuesday.
Renewed oil weakness sparks demand fears
NEW YORK (Reuters) – U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. Six weeks later, the long hoped for recovery has yet to take hold.
Junk-rated U.S. municipalities shine brighter with record low rates
NEW YORK/CHICAGO (Reuters) – Record low interest rates so far have failed to spur a wave of new borrowing in the $3.7 trillion U.S. municipal debt market, with one exception: its weakest borrowers are seizing the opportunity to prop up their finances a…
