Market News

  1. Global stock markets broadly rebounded on Tuesday after a two-day swoon while benchmark U.S. Treasury yields steadied above 15-month lows as risk appetite improved after worries of a recession clouded trading since late last week.
  2. U.S. stocks gained on Tuesday, with financials snapping a five-day losing streak as Treasury yields stabilized above 15-month lows.
  3. OxyContin maker Purdue Pharma LP and members of the wealthy Sackler family that own the company reached a $270 million settlement to resolve a lawsuit brought by the state of Oklahoma accusing the drugmaker of fueling an opioid abuse epidemic.
  4. U.S. labor officials on Tuesday pressed lawmakers to strengthen enforcement of the provisions of the United States-Mexico-Canada Agreement (USMCA) intended to protect workers, the latest sign that the trade deal could face hurdles to passage in the Democrat-led House of Representatives.
  5. Alphabet Inc's Google said on Tuesday it was launching a global advisory council to consider ethical issues around artificial intelligence and other emerging technologies.
  6. Daimler AG is nearing the sale of a 50 percent stake in its small-car brand Smart to China's Geely Automobile Holdings Ltd, the Financial Times said on Tuesday, citing three people familiar with the matter.
  7. A U.S. trade judge on Tuesday recommended Qualcomm Inc win a sales ban on some Apple Inc iPhone models containing chips made by Intel Corp in one of two patent disputes before the International Trade Commission.
  8. General Electric Co on Tuesday reached a $49 million settlement to end a long-running lawsuit over its relationship with Thomas Petters, the Minnesota businessman serving a 50-year prison term for running a multibillion-dollar Ponzi scheme.
  9. Toyota Motor Co expects its sales in South America and the Caribbean to rise 0.9 percent in 2019 compared with last year, Celso Simomura, vice president of Toyota's Brazil operation, said on Tuesday.
  10. Deutsche Lufthansa AG plans to buy a triple-digit number of either Boeing 737 MAX or Airbus A320neo jetliners to expand its fleet, Chief Executive Carsten Spohr said on Tuesday.
  11. The Federal Aviation Administration (FAA) will significantly change its oversight approach to air safety by July, a U.S. transport department official said on Tuesday, following two fatal Boeing MAX 737 plane crashes.
  12. Bed Bath & Beyond Inc's long-time Chief Executive Officer Steven Temares came under pressure on Tuesday after activist investors called for his ouster and the replacement of the entire board, sending the company's shares up as much as 30 percent.
  13. The Federal Aviation Administration will significantly change its oversight approach to air safety by July 2019, U.S. Transportation Department Inspector General Calvin Scovel said in written testimony reviewed by Reuters ahead of a U.S. Senate panel hearing.
  14. EU nations will be required to share data on 5G cybersecurity risks and produce measures to tackle them by the end of the year, the European Commission said on Tuesday, shunning U.S. calls to ban China's Huawei Technologies across the bloc.
  15. Huawei, the world's third-largest smartphone maker, presented its new flagship phone in Paris on Tuesday with the hope of making further gains in Europe, a region where its other products could face in-depth scrutiny for security reasons.
  16. German pharma group Merck KGaA launched a hostile $5.9 billion all-cash takeover offer for Versum Materials on Tuesday to boost its presence in the semiconductor materials market and sideline a rival bidder.