Top-Quality Corporate Bonds Rally as a Preferred 'Safe Haven'
Investment returns on highly rated corporate bonds are outpacing their lower-rated peers this month as investors look for safe-haven alternatives to Treasurys.
Marathon Petroleum: No Plans to Spin Off Convenience Stores
Marathon Petroleum Corp. (MPC) Chief Executive Gary Heminger told analysts on a conference call Tuesday that the company has no plans to spin off its convenience store business.
National Australia Bank Prices EUR1 Billion 10-Year Bond
National Australia Bank (NAB.AU) has priced its EUR1 billion bond issue, one of the banks running the sale said Tuesday.
BP Profits Plunge On Massive Write-down
BP PLC (BP) Tuesday posted a dramatic fall in second-quarter earnings as it wrote down the value of several key assets in the U.S. by $5 billion.
Brazil's TIM Expects Anatel to End Sales Ban in 'Coming Days'
Brazilian telephone company TIM Participacoes SA (TIMP3.BR, TSU) expects Brazil's telecom regulator to end the ban on TIM's sales of new mobile lines in the "coming days," TIM executives said Tuesday on a conference call with investors to discuss second-quarter results.
Audi Sticks to Full-Year Goals, Raises US Sales Target
Volkswagen AG's (VOW.XE) Audi premium brand Tuesday raised its forecast for U.S. sales and played down concerns about potential downward pressure on prices in China as it said it will meet its full-year sales and profit targets despite the cloudier global economic outlook.
Anadarko: Continuing To Seek Reasonable Resolution In Tronox Case
Anadarko Petroleum Corp. (APC) executives said Tuesday the company still sought a "reasonable resolution" to a $25 billion environmental dispute with creditors of Tronox Inc., despite the failure of various efforts to settle the issue.
Peru's Volcan 2nd Quarter Net Income Down 62% to $35.2 Million
LIMA, Peru--Peruvian miner Volcan Compania Minera SAA's (VOLCABC1.VL) second-quarter net income fell 62% to $35.2 million from $92.1 million in the year-earlier period.
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.
Brazil's Usiminas Negotiating Further Steel Product Price Rises
Usinas Siderurgicas de Minas Gerais SA (USIM5.BR) is negotiating steel product price rises for the third quarter with industrial clients, the Brazilian steelmaker said Tuesday.