Business & Financial News, U.S & International Breaking News

Three big U.S. banks reported strong earnings on Tuesday even as warning signs emerged that the playing field is beginning to tilt against the financial industry.

Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the U.S. electric vehicle maker reported record deliveries.

International Monetary Fund chief Christine Lagarde submitted her resignation from the global crisis lender on Tuesday, citing more clarity about her nomination to lead the European Central Bank as European legislators approved a new top bureaucrat.

U.S. stocks were lower on Tuesday as results from big Wall Street lenders rekindled concerns about slowing profit growth in a low interest rate environment, while comments from President Donald Trump on trade also soured the mood.

U.S. President Donald Trump said on Tuesday "a lot of progress" had been made toward ending a volatile standoff with Iran, with his top diplomat saying Tehran had signaled willingness to negotiate over its disputed ballistic missile program.

China on Tuesday rebuffed a suggestion from U.S. President Donald Trump that Beijing needs a trade deal with the United States because its economy is slowing, saying this was "totally misleading" and that both countries wanted an agreement.