Impossible Foods cuts prices of plant-based meat sold to distributors
Impossible Foods on Tuesday announced an average 15% cut in prices of its vegan products sold to U.S. distributors as the plant-based meat maker tries to make its patties more affordable to compete better with beef.
Hudson’s Bay Co Chairman Richard Baker to take over as CEO
Hudson’s Bay Co Chairman Richard Baker will take over as chief executive officer, the company said on Tuesday, after his bid to take the owner of Saks Fifth Avenue private was approved by shareholders.
Saudi SABIC lifts Swiss chemicals maker Clariant stake
Chemical giant Saudi Basic Industries Corporation (SABIC) said on Tuesday that it had raised its stake in Swiss chemicals maker Clariant to 31.5% from 25%.
U.S. joins False Claims Act lawsuit against Mallinckrodt
The U.S. government said on Tuesday it filed a lawsuit accusing a unit of the drugmaker Mallinckrodt Plc of improperly avoiding the payment of hundreds of millions of dollars in Medicaid rebates as a result of large drug price increases.
ECB ready to support economy, but governments must help, Villeroy says
The European Central Bank is ready to support the economy in the face of the coronavirus outbreak, but governments with budget leeway also need to help, ECB policymaker Francois Villeroy de Galhau said in a Dutch newspaper interview released on Tuesday…
Wall Street losses deepen after Fed emergency rate cut
U.S. stock markets fell sharply on Tuesday on worries that even a half percentage-point cut in interest rates might not be enough to stave off the economic impact of the coronavirus outbreak and halt the worst sell-off in more than a decade.
Fed slashes rates in emergency move to combat coronavirus risks
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
OPEC and allies to consider significant oil output cuts as coronavirus hits demand
OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria’s oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week.
OPEC and allies to consider significant oil output cuts as coronavirus hits demand
OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria’s oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week.
Daimler says cost cut plans may see entire platforms eliminated
Mercedes-Benz is embarking on a sweeping cost cutting plan to free up cash to build electric and self-driving cars, a step which could see entire engine families and platforms eliminated, Daimler board member Markus Schaefer said on Tuesday.
