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

U.S. consumer confidence fell more than expected in November amid a widespread resurgence in new COVID-19 infections and business restrictions, reinforcing expectations for a sharp slowdown in economic growth in the fourth quarter.

U.S. President-elect Joe Biden focused on building his incoming administration and offered a message of healing on Tuesday as his transition team began contacting federal agencies to prepare for a handover of power in January from President Donald Trump.

Airlines are on course to lose a total $157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to a second wave of coronavirus infections and shutdowns afflicting major markets.

General Electric Co on Tuesday warned of more job cuts at its aviation unit, citing a lengthy recovery for the airline industry from the impact of the coronavirus crisis.

Tiffany & Co, which is being bought by French luxury giant LVMH, beat Wall Street expectations for quarterly profit on Tuesday as the U.S. jeweler benefited from an over 70% rise in sales in China and a recovery in demand at home.

Iran's supreme leader dismissed the prospect of new negotiations with the West on Tuesday, even as the Tehran government spoke optimistically about the return of foreign companies in "the absence of Trump" and his sanctions.