- U.S. stocks surged on Tuesday and were on track to break a five-day losing streak as attention shifted from trouble in Chinese equities to U.S. corporate earnings and speculation the first Federal Reserve interest rate hike may not come until December.
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.
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.
- Chemical and crop company DuPont said the remainder of the year would be "challenging", as a strong dollar and persistently weak demand for its farm products continue to chip away at sales.