Australia's Fortescue Metals Group Ltd will change its roster to increase the time workers spend at mines, as the world's fourth largest iron ore producer rushes to reduce costs in the face of plunging prices for the steelmaking ingredient.
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Wells Fargo profit falls as employee costs rise
Wells Fargo & Co (WFC.N), the largest U.S. mortgage lender, reported a drop in quarterly profit for the first time in five years as employee costs rose at a time margins are under pressure from low interest rates.
Intel sees revenue holding, cuts capital spending, shares up
Chipmaker Intel Corp forecast revenue broadly in line with Wall Street's expectations and signaled a hefty cut in capital expenditures this year, lifting its shares in after-hours trading.
Clinton: Unfair that fund managers pay lower tax rate than truckers
Democrat Hillary Clinton blasted executive pay and tax rates for hedge-fund managers on Tuesday, using the first stop of her low-key campaign rollout in Iowa to highlight her promise to help Americans struggling toward economic recovery.
Wall Street ends higher after bounce in oil prices
The Dow and S&P 500 ended higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong dollar.
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Toyota Motor Corp (7203.T), the world's biggest automaker, will spend $1 billion to build a car factory in Mexico and plans to announce the investment on Wednesday, two sources with direct knowledge of the matter said.
The yen rose across the board on Tuesday, hitting a two-year high against the euro, after an economic adviser to Japan's Prime Minister Shinzo Abe indicated that the currency might have fallen too far and needed to retrace some of its losses.
Net foreign purchases of Philippine shares jumped to $1.1 billion in January-to-March, the highest for any quarter in almost three years and more than twice the net volume of funds flowing into Southeast Asia's biggest economy Indonesia.
Nokia Oyj (NOK1V.HE) is in talks to buy smaller telecom equipment maker Alcatel-Lucent (ALUA.PA), a deal that would combine the industry's two weakest players but could pose challenges in cutting costs and overcoming political opposition.
Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.
JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.
European share markets touched a 14-year high on Tuesday, supported by takeover talks between telecoms equipment firms Nokia and Alcatel Lucent, while a shifting global monetary policy outlook weighed on the euro.
China's export sales contracted 15 percent in March, a shock outcome that deepens concern about sputtering Chinese economic growth.
Business associations from the United States, Japan and Europe told Chinese officials on Monday they still have "strong concerns" about bank information technology rules and urged Beijing to formally suspend them.
