BP’s new CEO to simplify company structure into upstream, downstream units
BP will reorganize into two main business units – upstream and downstream – under new CEO Meg O’Neill, who took the helm on April 1.
Amazon to buy Globalstar to bolster Leo satellite business in deal worth about $11.6 billion
Amazon said it would acquire Globalstar, giving its nascent satellite internet business a boost as it vies to compete with Elon Musk’s SpaceX.
J&J tops first-quarter profit estimates even as Stelara sales plunge
Strong demand for cancer drug Darzalex and psoriasis treatment Tremfya more than offset a steep falloff in sales of its blockbuster autoimmune drug Stelara.
Stocks making the biggest moves premarket: Novo Nordisk, JPMorgan Chase, United Airlines & more
These are the stocks posting the largest moves premarket.
Citigroup beats estimates, boosted by gains in fixed income
Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
The Iran war could cost the American taxpayer $1 trillion, says Harvard academic
As efforts to reach a lasting settlement have so far proved unsuccessful, one Harvard academic estimates the total could end up far higher than was promised.
JPMorgan tops estimates on Wall Street results, Dimon flags ‘increasingly complex’ economic risks
JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an “increasingly complex set of risks” across global markets.
U.S. Hormuz blockade hits India just as Russian oil purchase waiver expires, deepening energy worries
U.S. moves to blockade Iran, and let a Russian oil waiver lapse, squeeze India’s energy supplies, exposing its vulnerability under rising U.S. pressure.
Treasury yields move lower after light producer price reading, weaker oil prices
Treasury yields dropped on Tuesday following a softer-than-expected producer price index reading and as oil prices declined.
China calls U.S. blockade of the Strait of Hormuz ‘dangerous and irresponsible’
The Chinese foreign ministry said only a “comprehensive ceasefire” would help ease the ongoing crisis in the Middle East.
