Tuesday, 25 August 2020

Canada court blocks release of more documents to Huawei's Meng Wanzhou

Canada court blocks release of more documents to Huawei's Meng Wanzhou

A Canadian court blocked Huawei Chief Financial Officer Meng Wanzhou's request for the release of more documents related to her arrest in 2018, court documents released on Tuesday said.

Toll Brothers profit falls about 22% as virus hits home prices

U.S. luxury homebuilder Toll Brothers Inc reported a 21.6% fall in third-quarter profit on Tuesday, as coronavirus-led lockdowns hurt home prices.

GM, Ford coronavirus U.S. ventilator projects close in on their finish lines

General Motors Co and Ford Motor Co said on Tuesday they are close to completing production of ventilators ordered by the Trump Administration this spring in response to the surge in coronavirus cases, and are ramping down or exiting the operations.

Nordstrom reports bigger-than-expected loss, sales plunge as pandemic hits

Nordstrom Inc reported a bigger-than-expected loss and a 53% fall in sales on Tuesday, as its stores were shut for about half of the reported quarter due to the COVID-19 pandemic, sending the department store chain's shares down about 7%.

S&P 500, Nasdaq close at record highs on trade, vaccine developments

The S&P 500 and the Nasdaq hit all-time closing highs on Tuesday, but a drop in Apple stock capped gains from positive developments in U.S.-China trade and fresh progress in the medical battle against the coronavirus pandemic.

U.S. to charge Teva in generic drugs price-fixing probe: source

The U.S. Justice Department is preparing to charge Teva Pharmaceutical Industries Ltd with conspiring with competitors to raise prices for generic drugs, according to a person familiar with the matter.

U.S. housing regulator postpones new mortgage refinancing fee

A contentious new fee on U.S. mortgage refinancings has been delayed until Dec. 1, according to the regulator overseeing mortgage giants Fannie Mae and Freddie Mac.

Stocks rise as U.S.-China phone calls boosts optimism, euro gains

The euro rose on better-than-expected German business morale data on Tuesday while global equity markets gained, with the S&P 500 and Nasdaq poised to set new closing highs, as a phone call between U.S. and Chinese trade officials fueled optimism.

American Airlines to cut 19,000 jobs in October without aid, workforce shrinking 30%

American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel, unless the government extends aid for airline employee payrolls.

Brazil prosecutors sue JBS to test chicken plant workers for COVID-19

Brazilian labor prosecutors have sued JBS SA to compel the removal of workers at one of its chicken processing plants, asking the company to assess their health, and ultimately test them for the novel coronavirus, according to a statement on Tuesday.

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