Markets

NEW YORK: US biopharmaceutical company AbbVie said on Tuesday (Jun 25) it would buy Botox-maker Allergan for about US$63 billion, moving to diversify its product line as the industry faces pressure on drug prices. The deal, the latest large transaction in pharma, broadens the product offerings for ...

REUTERS: Micron Technology Inc shares rose as much as 10per cent on Tuesday as the memory chip maker said it had resumed some shipments to Huawei Technologies Co Ltd and still expected demand for its chips to recover later this year. Chief Executive Sanjay Mehrotra said the Idaho-based maker...

FedEx Corp reported a 17.5per cent fall in quarterly profit on Tuesday, as an escalating U.S.-China trade war continued to weigh on the package delivery company.

NEW YORK: Wall Street stocks fell on Tuesday (Jun 25) following disappointing US consumer data and measured comments from the Federal Reserve chief on the likelihood of an interest rate cut. Large technology companies including Amazon, Google parent Alphabet and Facebook were especially weak as US ...

NEW YORK: Wall Street stocks fell on Tuesday (Jun 25) following disappointing US consumer data and measured comments from the Federal Reserve chief on the likelihood of an interest rate cut. Large technology companies including Amazon, Google parent Alphabet and Facebook were especially weak as US ...

The U.S. Department of Justice has begun a criminal probe into allegations that Tyson Foods Inc and other poultry processors including Pilgrim's Pride Corp and Sanderson Farms Inc colluded to fix poultry prices, court documents show.

Walt Disney Co has hired the head of Netflix Inc's original film division, Matt Brodlie, for its streaming service Disney+, according to a report by Deadline on Tuesday.

WASHINGTON: America's grinding trade wars are darkening the economic horizon and could justify a decrease in interest rates, Federal Reserve Chairman Jerome Powell said on Tuesday (Jun 25). But Powell also insisted the central bank was "insulated" from political pressures despite President Donald ...

Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for US$550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation.

Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers wrestle with whether to cut rates as President Donald Trump has demanded.