Business

The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd., saying that the deal would eliminate direct head-to-head competition between the fashion companies’ brands like Coach and Michael Kors in the so-called affordable luxury handbag arena.

JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.

“The people who are most successful in building and rebuilding their social circles … don’t wait for new friends to come to them,” says professor Marisa G. Franco.

Here are the most important news items that investors need to start their trading day.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, according to data from Counterpoint Research.

The chief executive of Norway’s gigantic sovereign wealth fund on Tuesday said there is “clearly a lot of froth” in the tech sector.

PepsiCo’s volume and sales growth were better in most international markets than in its North America markets.

A German man was arrested for allegedly sharing information from the European Parliament with the China’s secret service, the federal prosecutor’s office said.

SoftBank will invest $960 million by 2025 to bolster its computing facilities in preparation for its own generative intelligence model.

Shares of Swiss drugmaker Novartis climbed as much as 4.8% in early deals Tuesday after it raised its full-year guidance following better-than-expected first-quarter results.

U.S. Treasury yields fell as investors parsed fresh manufacturing data and awaited further insight into the state of the economy.

IQiyi founder Gong Yu also pointed to estimates that predict about one-fourth of China’s population will be considered elderly in 2033.

A close ally of Russian President Vladimir Putin warned Tuesday that Russia is ready to retaliate if $300 billion of frozen Russian assets are seized by the West.