The S&P 500 closed at a record high on Tuesday, rebounding from huge losses triggered by the coronavirus pandemic and crowning one of the most dramatic recoveries in the index's history.
Global equities rose on Tuesday as strong corporate results and accelerating U.S. homebuilding lifted the S&P 500 past highs set before the coronavirus crushed world economies, in a stimulus-fueled rally that has also pushed the dollar to two-year lows.
Reliance Industries Ltd has acquired a majority stake in online pharmacy Netmeds for about 6.2 billion rupees ($83.08 million) in cash, days after e-commerce giant Amazon.com Inc launched an online drug sales service in India.
New York state filed civil charges on Tuesday accusing Teva Pharmaceutical Industries Ltd and Allergan Plc with insurance fraud for downplaying the risks of their opioid painkillers to patients and doctors.
Citigroup asked a U.S. judge on Tuesday to freeze funds it mistakenly sent Revlon Inc creditors amid a lawsuit over one of the largest clerical errors by a bank in years.
Kohl's Corp signaled a slow start to the current quarter on Tuesday, as the department store chain discounts heavily and grapples with weak demand as fewer schools reopen due to the COVID-19 pandemic, sending its shares down nearly 16%.
Home Depot Inc reported its biggest rise in quarterly same-store sales in at least two decades on Tuesday as demand for paint, tools and lawn mowers surged from consumers stuck at home due to the COVID-19 pandemic.
The U.S. mail service has suddenly become politically controversial, as cost cuts lead to delays. The decline of letter writing means the service is losing money. But as Robert Cyran explains, cost cuts can be delayed, and it's worth remembering the USPS isn't a business.
Kohl's signaled a slow start to the current quarter on Tuesday, as the department store chain discounts heavily and grapples with weak demand as fewer schools reopen due to the COVID-19 pandemic, sending its shares down sharply. Fred Katayama reports.
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