Oil prices rose about $1 a barrel on Tuesday, hitting the highest in more than four months with a boost from a European Union stimulus deal and hopeful news about coronavirus vaccine trials.
The S&P 500 edged higher on Tuesday, as investors rotated into economically sensitive cyclical stocks, optimistic that Washington will deliver a new round of stimulus to sustain the U.S. economic recovery from a pandemic-induced recession.
United Airlines Holdings Inc said on Tuesday it burned through about $40 million per day in the second quarter but sees that amount slowing to roughly $25 million in the third quarter as it matches its flight schedule to coronavirus-hit demand.
Uber was defending its business model on Tuesday at Britain's Supreme Court in a battle over rights in the workplace that could have ramifications for millions of Britons earning a living in the gig economy.
Best Buy Inc said on Tuesday that it would raise hourly wages for its employees by 4%, replacing its short-term incentive pay it introduced during the pandemic, from Aug. 2.
Snap Inc on Tuesday said an initial lift in user growth at the start of coronavirus-led lockdowns dissipated faster than it expected, though the company beat expectations for quarterly revenue as advertisers turned to the app to reach younger users.
Texas Instruments Inc forecast third-quarter revenue above Wall Street estimates on Tuesday, offering some hope to the chip industry reeling from disruptions caused by the coronavirus pandemic.
World shares rallied to their highest since February and the euro hit its strongest in 18 months on Tuesday after European Union leaders agreed on a landmark stimulus package to revive regional economies ravaged by the coronavirus.
Tapestry Inc Chairman and Chief Executive Officer Jide Zeitlin stepped down on Tuesday amid an investigation into his personal behavior, a source familiar with the matter said.
Work on various coronavirus vaccines is starting to look promising, and investors are getting excited. Robert Cyran explains why a $50 bln gain in the stock-market value of five biotechs each trying to develop one is excessive.
German payments company Wirecard has hired Alix Partners for a forensic investigation of the accounting scandal that led to its collapse, people close to the matter said. Ciara Lee reports
Sponsored by IBM: 2019 Cost of Data Breach Study
The 14th annual study, conducted by Ponemon Institute and sponsored by IBM, analyzes data breach costs reported by 507 organizations around the world.
