Omega’s Cooperman says would not buy energy shares aggressively: CNBC
NEW YORK (Reuters) – Leon Cooperman, chief executive of hedge fund Omega Advisors, said on Tuesday that he would not buy energy shares aggressively given the current situation in China.
Wall Street ends sharply higher as China jitters ebb
(Reuters) – U.S. stocks ended sharply higher on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to U.S. corporate earnings and to speculation the first Federal Reserve interest rate hike may not come unt…
Denials fly in war of nerves over Greek debt talks
ATHENS/BRUSSELS (Reuters) – Conflicting statements and denials flew between Athens and Brussels on Tuesday in a war of nerves highlighting the depth of mutual mistrust over a new round of negotiations on an 86 billion euro bailout that started this wee…
U.S. consumer mood darkens, home price growth stalls
NEW YORK (Reuters) – U.S. consumer confidence suffered its biggest blow in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand.
DuPont sees ‘challenging’ months ahead as farm sales weaken
(Reuters) – Chemical and crop company DuPont said the remainder of the year would be “challenging”, as a strong dollar and persistently weak demand for its farm products continue to chip away at sales.
Honeywell to buy Melrose’s utility metering business for $5.1 billion
(Reuters) – Honeywell International Inc has made its largest purchase in more than a decade, agreeing to buy the utility consumption metering business of Britain’s Melrose Industries Plc for about $5.1 billion.
Cerberus leads U.S. investors gobbling up Europe’s bank loans
LONDON (Reuters) – Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of Hades, is leading a charge by U.S. investors who are snapping up European loans at knockdown prices.
RBS to sell $2.2 billion Citizens shares to take stake below 25 percent
LONDON (Reuters) – State-backed Royal Bank of Scotland intends to sell up to $2.2 billion shares in U.S. bank Citizens , which would cut its stake in that business to less than a quarter.
UPS second-quarter profit tops estimates; sees sluggish U.S. economy
(Reuters) – Package delivery company UPS on Tuesday reported a better-than-expected second-quarter profit on improved margins, and said U.S. economic growth was being hampered by a strong dollar and an expected interest rate hike.
Miner Freeport to review all costs, output cuts; shares jump
(Reuters) – Freeport-McMoRan Inc said on Tuesday it is reviewing its mining and oil and gas businesses for significant additional cuts in capital spending and operating costs because of weak prices for copper, molybdenum and gold.
