Tuesday 30 October 2018

Ex-Valeant, Philidor executives get prison for fraud

Ex-Valeant, Philidor executives get prison for fraud

A former executive at Valeant Pharmaceuticals International Inc and the former head of a start-up mail-order pharmacy were sentenced to one year in prison on Tuesday after being convicted of defrauding the drugmaker through a secret kickback scheme.

General Electric reveals deeper regulatory probe, restructuring

General Electric Co slashed its dividend on Tuesday, said it faces a deepening federal accounting probe and vowed to restructure its power unit, as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.

U.S. presence at Cuba trade fair dwindles given Trump hostility

A yellow excavator, forklift and other heavy equipment made by U.S. firm Caterpillar gleam outside Cuba's annual trade fair, reflecting once-bright hopes for increased U.S.-Cuban commerce fanned by the 2014 detente between the old Cold War foes.

EV maker Faraday Future's co-founder Nick Sampson steps down

Chinese electric vehicle developer Faraday Future said on Tuesday its co-founder Nick Sampson has resigned, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs.

GE's demolished dividend shreds shareholders' safety net

General Electric Co shareholders were dealt yet another blow on Tuesday.

Facebook shares stung by slow user, sales growth

Facebook Inc on Tuesday beat analysts' profit estimates but missed targets for growing monthly users and reported its slowest revenue growth in about six years.

Exclusive: Buyout firms Bain, CVC compete to acquire Papa John's - sources

Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John's International Inc , the world's third-largest pizza delivery company, people familiar with the matter said on Tuesday.

Wall St. rebounds as chip, transport shares surge

Major U.S. stock indexes jumped more than 1 percent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.

U.S. leads equities higher on hopes of U.S.-China trade deal

Broad gains in the U.S. equity market boosted a measure of global stock markets on Tuesday after President Donald Trump said a "great deal" could be struck with China that would relieve fears of a growing trade war between the world's two largest economies.

Oil prices down more than 1 percent on rising supply, trade war

Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fuel will fall victim to the U.S.-China trade war.

Related Videos

Facebook nearing a buy point, but dollar-cost average, advises Jeff Tomasulo

GE slashes dividend to a penny

IBM Cloud Asset.jpg
Sponsored by IBM: Manage apps across multiclouds.

IBM Multicloud Manager provides improved visibility and control for workloads across multiple clouds.

Learn more.