U.S. stocks fall on economic worries, dollar firms
NEW YORK (Reuters) – U.S. stock prices fell on Tuesday on weaker-than-expected economic data, while expectations of a possible Federal Reserve interest rate increase lifted the dollar to near a two-month high against a basket of currencies.
EU cautions governments against banning Uber, Airbnb
BRUSSELS/LONDON (Reuters) – European Union governments should not ban services like home-rental site Airbnb or ride-hailing app Uber except as a last resort, the EU says in new guidelines, seeking to rein in a crackdown on the “sharing economy”.
Goldman’s Cohn defends bank’s trading business amid revenue slump
(Reuters) – Goldman Sachs Group Inc President and COO Gary Cohn defended the bank’s trading business on Tuesday, as investors have questioned the units’ slumping revenue.
Cost squeeze helps VW brand back to profit after diesel debacle
BERLIN (Reuters) – Volkswagen’s mass-market VW brand returned to profit in the first quarter, in a sign deep cost cutting is starting to revive the business at the heart of the German carmaker’s emissions test cheating scandal.
Oil up as U.S. summer draws beckon; set for fourth month of gains
NEW YORK (Reuters) – Oil prices rose on Tuesday, heading for the fourth straight monthly gain, with investors betting on higher U.S. fuel demand as peak driving season arrived in the No. 1 oil consumer.
U.S. consumer spending increase strongest in over six years
WASHINGTON (Reuters) – U.S. consumer spending recorded its biggest increase in more than six years in April as households stepped up purchases of automobiles, suggesting an acceleration in economic growth that could persuade the Federal Reserve to rais…
Carl Icahn acquires ‘large position’ in Allergan, backs CEO
(Reuters) – Billionaire investor Carl Icahn said on Tuesday he had acquired a “large position” in Botox-maker Allergan Plc and that he was very supportive of Chief Executive Officer Brent Saunders.
Airbus sales chief not worried by Boeing super-sizing 737
HAMBURG (Reuters) – Airbus sales chief John Leahy said on Tuesday he was not worried about Boeing adopting a larger engine for its 737 MAX 9 jet, dubbing it “Mad MAX” because of the technical challenges it would face.
U.S. home prices rise more than expected in March
NEW YORK (Reuters) – Annualized U.S. single-family home prices rose more than expected in March, a survey showed on Tuesday.
Nestle, on health kick, moves into milk allergy testing
LONDON (Reuters) – Nestle, the world’s biggest food company, is stepping up its push into medicine with a global deal worth up to 100 million euros ($111 million) to develop and market an experimental milk allergy test for infants.
