Tuesday 27 August 2019

Deutsche Bank says records sought in Trump congressional probe include tax returns

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Deutsche Bank says records sought in Trump congressional probe include tax returns

Financial records related to U.S. President Donald Trump and three of his children that congressional Democrats have requested from Deutsche Bank AG include tax returns, the bank disclosed in a court filing on Tuesday.

Oil futures extend gains on larger-than-expected U.S. crude draw

Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid claims: sources

OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion, two people familiar with the matter said on Tuesday.

Wall Street slips as financials drag, trade outlook clouds

Wall Street slipped on Tuesday, weighed down by financial stocks as a deepening of the Treasury yield curve inversion raised U.S. recession worries and uncertainty over any progress in trade negotiations between the United States and China took a toll.

Ex-Google engineer charged with taking stolen self-driving secrets to Uber

The U.S. Department of Justice on Tuesday filed criminal charges accusing Anthony Levandowski, a pioneer in self-driving car technology, of stealing trade secrets from his former employer Google before joining rival Uber Technologies Inc .

Explainer: Ex-Google engineer faces severe penalties in self-driving trade secrets case

U.S. prosecutors on Tuesday brought a criminal case against a former high-ranking Google engineer, alleging he stole confidential technology from the company's self-driving car unit before joining rival Uber Technologies Inc .

Fed divided on policy, discount rate votes show

U.S. central bankers may have been more deeply divided than previously understood over the decision last month to cut interest rates for the first time in more than a decade, records from meetings held across the Fed's 12 regional Fed banks suggest.

Fed rejects call to deny Trump rate cuts; Trump keeps up pressure

The U.S. central bank on Tuesday rejected a call from a former Federal Reserve policymaker to counter President Donald Trump's trade agenda by refusing to "play along" and denying the president the interest rate cuts he has demanded.

BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp

British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

U.S. yield inversion deepens, stokes recession fears

The U.S. yield curve inversion deepened on Tuesday to levels not seen since 2007, rekindling fears of a looming recession that spurred a sell-off on Wall Street and stoked even more safe-haven demand for government bonds.

Timeline: Autonomous car pioneer Levandowski faces criminal charges of stealing from Alphabet

The U.S. Department of Justice on Tuesday filed criminal charges against Anthony Levandowski, accusing the former high-ranking Alphabet Inc engineer of stealing the company's self-driving car technology before joining rival Uber Technologies Inc .

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