Fueled by a 20 percent sales jump in its prescription drugs business, Johnson & Johnson posted a 3 percent increase in second-quarter profit. Still, the world's biggest maker of health care products trimmed its forecast for 2018. J&J's prescription medicine business, which had lagged its medical device business until a couple years ago, accounted for half its $20.83 billion in total revenue.
SINGAPORE (AP) - World markets turned lower on Tuesday as investors looked ahead to Federal Reserve Chairman Jerome Powell's testimony to Congress for clues on U.S. interest rates. KEEPING SCORE: Germany's DAX shed 0.2 percent to 12,537 and the CAC 40 in France was down 0.4 percent at 5,3889. The FTSE 100 index fell 0.1 percent to 7,589. U.S. stocks were poised for small losses ahead of the release of industrial production figures. Dow and S&P 500 futures were both down 0.1 percent.
JOHANNESBURG (AP) - Former U.S. President Barack Obama is set to make his highest-profile speech since leaving office, urging people around the world to respect human rights and other values under threat in an address marking the 100th anniversary of anti-apartheid leader Nelson Mandela's birth.
ALGIERS, Algeria (AP) - An Algerian-born man twice convicted in France on terror charges and for years a high-profile figure in the underground world of terrorism has been expelled to stand trial in his homeland. Algeria's official APS news agency says Djamel Beghal was expelled by France on Monday, ending years of wrangling over his fate. Beghal, 52, was linked to the two men behind the deadly 2015 attacks on a French newsroom in Paris and a Paris Kosher grocery store.
CHARLOTTESVILLE, Va. (AP) - Charlottesville's leaders have decided their city isn't ready for Emancipation and Justice. Still struggling over how to handle Confederate symbols, the Charlottesville City Council voted 4-1 Monday night to change the names of two parks yet again. The former Lee Park, renamed Emancipation Park, is now Market Street Park. The former Jackson Park, whose name was changed to Justice Park, is now Court Square Park.
UnitedHealth Group's second quarter earnings beat Wall Street expectations, helped by a surge in government-funded coverage, and the nation's largest health insurer hiked its 2018 forecast again. UnitedHealth now expects adjusted earnings to range between $12.50 and $12.75 per share. That's up from a forecast for $12.40 to $12.65 per share that the company laid out in April. Analysts expect, on average, earnings of $12.63, according to FactSet.
TOKYO (AP) - The European Union and Japan signed a landmark deal on Tuesday that will eliminate nearly all tariffs on products they trade. The ambitious pact signed in Tokyo runs counter to President Donald Trump's moves to hike tariffs on imports from many U.S. trading partners. It covers a third of the global economy and markets of more than 600 million people.
JERUSALEM (AP) - Israel placed new restrictions on its only cargo crossing with the Gaza Strip on Tuesday in response to continued Hamas hostilities, even after it agreed to a cease-fire ending 24 hours of intense fighting. Defense Minister Avigdor Lieberman said Israel will cease transferring gas and fuel through the Kerem Shalom crossing until Sunday but will allow food and essential medication to cross. Commercial cargo was suspended last week.
MOSCOW (AP) - For Vladimir Putin, holding a summit with Donald Trump was a victory in itself. While the U.S. leader went home to widespread criticism after their Monday meeting, the Russian president came home to universal praise in Moscow - even though there were no major breakthroughs.