Business News

Merck & Co said on Tuesday its blockbuster therapy Keytruda used along with chemotherapy failed to meet the main goals of a late-stage study testing the combination as a first-line treatment for bladder cancer.

Oil prices rose on Tuesday, as optimism about recent commitments from major oil producers to curb production offset concerns that a resurgence in coronavirus cases could hurt fuel demand.

A recent run of optimism in markets hit the brakes on Tuesday as investors mostly pulled back from stocks, though the Nasdaq extended its record run to a new high, while the safe-haven yen, Swiss franc and gold rallied.

A Brazilian court has authorized the world's largest meatpacker, JBS SA, to reopen a pork plant in Rio Grande do Sul state struck by an outbreak of the novel coronavirus, according to a ruling seen by Reuters.

Morgan Stanley Chief Executive Officer James Gorman said on Tuesday the bank expects to set aside a smaller amount of money for potential loan losses in the current quarter, compared with the first quarter.

U.S. Federal Reserve policymakers on Wednesday will publish their first economic projections since the coronavirus pandemic set off a recession in February, estimates expected to signal a collapse in output this year and near-zero interest rates for the next few years.

The Federal Communications Commission on Tuesday voted unanimously to propose a record-setting $225 million fine against Texas-based health insurance telemarketers for allegedly making approximately 1 billion illegal robocalls.

* Dow falls 0.9%, S&P down 0.6%, Nasdaq rises 0.5% (Updates to late afternoon)

The New York Stock Exchange and other U.S. financial market operators held nearly nine minutes of silence on Tuesday in honor of George Floyd, a 46-year-old African American who died on May 25 after a white police officer knelt on his neck.

Chanel, Revlon and L'Oreal, three of the biggest brands in cosmetics, are quietly moving away from using talc in some products as U.S. cancer lawsuits and consumer concerns mount.

Mexican President Andres Manuel Lopez Obrador said on Tuesday some of Canada's mining firms were behind on their tax payments and urged the Canadian government to lean on them to avoid the dispute reaching international tribunals.

A recent run of optimism in markets hit the brakes on Tuesday, as investors pulled back from major stock indices and turned their attention to safe-haven assets like gold.

A recent run of optimism in markets hit the brakes on Tuesday, as investors pulled back from major stock indices and turned their attention to safe-haven assets like gold.

Morgan Stanley Chief Executive Officer James Gorman said on Tuesday the bank expects to set aside a smaller amount of money for potential loan losses in the current quarter, compared with the first quarter.

Enterprise Products Partners LP is working with U.S. officials to advance an offshore crude terminal project after the review schedule was suspended last week, the company said.

The U.S. Department of Health and Human Services (HHS) said on Tuesday it would distribute about $25 billion to hospitals that have not previously received relief funds as they grapple with a rise in COVID-19 cases.

Macy's Inc warned on Tuesday its business was not likely to return to normal until late next year, even as it saw better-than-expected sales from stores reopening after COVID-19 lockdowns were lifted across the United States.

Boeing Co deliveries slowed even further in May from April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.

Wall Street's S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy.

* Dow falls 0.77%, S&P down 0.64%, Nasdaq rises 0.45% (Updates to early afternoon)