Volkswagen's strategy chief said on Tuesday the German carmaker's core brand will develop its final generation of vehicles using combustion engine technology in 2026.
Global stocks sank and the dollar fell on Tuesday as a flattening Treasury yield curve sparked recession warnings, while optimism that the U.S. and China would quickly resolve their trade dispute dwindled.
U.S. Federal Reserve officials convinced the massive U.S. bond market has fundamentally changed in the last decade are about to test their commitment to that idea against investors who have begun betting against the U.S. central bank's ability to continue raising interest rates.
Wall Street tumbled more than 2 percent on Tuesday, led lower by bank and industrial shares, as the U.S. bond market sent worrisome signs about economic growth and investors worried anew about global trade.
U.S. stocks plunged on Tuesday and more points along the Treasury yield curve inverted as doubts arose over a speedy resolution to the U.S.-China trade dispute and over the health of the global economy.
European Union finance ministers failed to agree a tax on digital revenues on Tuesday, despite a last minute Franco-German plan to salvage the proposal by narrowing its focus to companies like Google and Facebook .
Ireland's finance minister poured cold water Tuesday on a new Franco-German proposal for a European tax on companies' digital revenues, saying it failed to address his concerns.
A federal judge who has been asked to sign off on the U.S. government's decision to approve CVS Health Corp's acquisition of insurer Aetna Inc said Tuesday he was "less convinced" than the government that the companies had struck a deal that ensured the merger was legal under antitrust law.
Volkswagen's chief executive said on Tuesday after a meeting at the White House that the German automaker was building an alliance with Ford Motor Co and might use the U.S. automaker's plants to build cars.
Iranian President Hassan Rouhani made an apparent threat on Tuesday to disrupt other countries' oil shipments through the Gulf if Washington presses ahead with efforts to halt Iranian oil exports.
