Corning wins U.S. funding for glass vials output for COVID-19 vaccines
Glass maker Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost manufacturing capacity of its vials that will be used to package coronavirus vaccines and treatments.
Volkswagen CEO apologised to supervisory board for ‘inappropriate’ remarks
Volkswagen Chief Executive Herbert Diess apologised to the company’s supervisory board for having made “inappropriate and wrong” statements at an internal event, the carmaker said on Tuesday.
Vitol veteran Taylor, who transformed oil trade, dies aged 64
Ian Taylor, who built Vitol into the world’s biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.
Tiffany amends debt pacts for financial leeway amid pandemic, slump in sales
U.S. luxury jeweler Tiffany & Co , which is being bought by France’s LVMH for $16 billion, said on Tuesday it had amended some of its debt agreements to gain more financial leeway amid the coronavirus pandemic after its quarterly sales sank 44%.
Oil dips on oversupply concerns and stronger dollar
Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.
Wall Street opens lower as focus shifts to Fed meeting
U.S. stocks opened lower on Tuesday as investors turned cautious ahead of a Federal Reserve meeting that could offer views on the recent signs of economic recovery that drove the tech-heavy Nasdaq to an all-time high.
Factbox: Why Tiffany’s debt obligations matter for its sale to LVMH
U.S. jewelry chain Tiffany & Co said on Tuesday that it amended some of the terms of its debt to give it financial breathing space, as it seeks to ensure that its $16.2 billion sale to French luxury goods giant LVMH is completed.
Airline industry headed for $84 billion loss this year: IATA
The coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the “worst year in the history of aviation”, the sector’s main global body predicted on Tuesday.
Wall Street set to fall as rally pauses ahead of Fed meeting
Wall Street’s main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve’s policy meeting.
EU trade chief Hogan says he is considering bid to become WTO chief
European Trade Commissioner Phil Hogan confirmed on Tuesday that he was considering a bid to become the next director-general of the World Trade Organization, a post that will become vacant at start of September.
