- U.S. stocks were higher on Tuesday and were on track to break a five-day losing streak as a selloff in Chinese stocks eased and investors shifted focus to corporate earnings.
Recent Business News
ATHENS/BRUSSELS - Conflicting statements and denials flew between Athens and Brussels on Tuesday in a war of nerves highlighting the depth of mutual mistrust over a new round of negotiations on an 86 billion euro bailout that started this week. | Video
LONDON - BP's second-quarter profit slumped by nearly two thirds from last year as it grappled with lower oil prices, a write off in Libya and a $10.8 billion charge for the 2010 crude spill in the Gulf of Mexico. | Video
- Hikma Pharmaceuticals Plc said it would buy German drugmaker Boehringer Ingelheim's U.S. specialty generic drugs business for about $2.65 billion in cash and stock to bolster its presence in the United States.
- Package delivery company UPS on Tuesday reported a better-than-expected second-quarter profit on improved margins, and said U.S. economic growth was being hampered by a strong dollar and an expected interest rate hike. | Video
LONDON - Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of Hades, is leading a charge by U.S. investors who are snapping up European loans at knockdown prices.