Brazil's Usiminas to Achieve BRL50 Million/Year Savings With New Equipment
Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR), or Usiminas, will achieve annual costs savings of 50 million Brazilian reais ($24.51 million) with the current modernization of its steel mills, Chief Executive Julian Eguren said Tuesday.
Mexico's May Mining Production Up 4.1% on Year, Led by Silver
Mexico's mining production rose 4.1% in May from the year-ago month, led by a 19% rise in silver production, the National Statistics Institute, or Inegi, said.
Pfizer CEO: FDA May Need More Time to Review Tofacitinib Application
The U.S. Food and Drug Administration may take longer than expected to review Pfizer Inc.'s (PFE) application to market a new treatment for rheumatoid arthritis, the drug maker's chief said Tuesday.
Valero May Split off Retail Segment; 2nd-Quarter Net Up 12%
Valero Energy Corp. (VLO) disclosed plans to potentially break off its retail business from the rest of the company, the latest in a chain of energy companies slimming down assets to sharpen their focus.
Fed Approves BB&T's Acquisition of BankAtlantic
The U.S. Federal Reserve on Tuesday approved BB&T Corp.'s (BBT) agreement to purchase all voting shares of Florida lender BankAtlantic, the banking unit of BankAtlantic Bancorp Inc. (BBX).
Tyco's Third-Quarter Net Down 33% on Rising Costs for Breakup, Other Items
Tyco International Ltd.'s (TYC) fiscal third-quarter earnings fell 33%, as costs for breaking up the company next month and other special items weighed on solid sales and profit growth from the conglomerate's business units.
Correction (7/26) To Starbucks Third-Quarter EMEA, CAP Same-Store Sales
Starbucks Corp.'s (SBUX) third-quarter EMEA same-store sales were flat, while CAP same-store sales were up 12%.
Markets Trim Losses, Remain Under Pressure
Wall Street bounced off session lows but remained under pressure Tuesday morning as stronger-than-expected reports on consumer confidence and home sales offset weaker indicators and traders continue to bet on the likelihood of new help from the Fed and ECB.
Applications Given Early Antitrust Clearance
The Hart-Scott-Rodino Act requires under certain circumstances that prospective acquirers of voting securities or assets apply for clearance from regulators.
Total Buys Oil Interests In Kurdistan, Challenging Baghdad
Total SA (TOT) challenged the Iraqi authorities Tuesday as it announced the acquisition of a 35% interest in two oil-exploration blocks in Kurdistan, a semi-autonomous region in northern Iraq, just days after the central government in Baghdad blacklisted Chevron Corp. (CVX) from contracts in the