Business

International Business Machines Corp forecast full-year profit above market expectations on Tuesday after reporting surprise growth in quarterly revenue, boosted by its high-margin cloud computing business, sending its shares up more than 4%.

Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast.

Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver court on Tuesday, where her lawyers argued for a second straight day that the U.S. extradition request against Meng is founded in sanctions violation.

U.S. President Donald Trump will attend a breakfast meeting on Wednesday with Apple Inc Chief Executive Tim Cook and other business leaders on the sidelines of the annual meeting of the World Economic Forum in Davos, Switzerland, according to sources familiar with the situation.

Tesla Inc has reached a settlement with Michigan to allow the electric-car maker to directly deliver its vehicles to customers in the state, a person familiar with the agreement said on Tuesday.

The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three sources familiar with the situation said on Tuesday.