The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Home Depot CFO Carol Tome says "consumer confidence is near record high levels" but "consumer demand could be impacted" by lingering U.S.-China trade tensions.Mad Money with Jim Cramerread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
VMware has become accepting of the corporate rush to the cloud. A new acquisition could help it make more revenue as companies adopt a modern approach called serverless...Technologyread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
(Updates with CEO comments)
SAO PAULO, May 8 (Reuters) - Brazilian steelmaker Companhia Siderurgica Nacional said on Thursday it is still in talks for a $500 million iron ore streaming deal and is close to reaching an agreement to sell its German unit.
In a conference call with analysts, Chief Executive Benjamin Steinbruch said he is pushing for the right price to sell the German unit, which is key to hitting a debt reduction target by the end of the year.
Steinbrunch also pledged better results in the next quarter, after CSN announced late on Wednesday that quarterly profit plunged to 87 million reais ($22 million), from 1.5 billion reais a year earlier.
CSN shares were down 0.6 percent in Thursday afternoon trading.
Steinbruch said he expects to raise steel prices by 10 percent during the second quarter to improve results and reduce leverage by the end of the year. Executives said steel production costs would keep rising.
Despite weaker first-quarter results, Steinbruch said CSN was sticking with a plan to cut its ratio of debt to earnings before interest, taxes, depreciation and amortization (EBITDA) from four at the end of March to three in December.
The sale of the German unit will help to achieve that goal. Steinbruch said talks are advanced, but there is still no agreement on price.
"We'll sell if we reach the price we want," he added.
The company, which has been negotiating an iron ore streaming deal for some months, expects the deal to be closed this year but did not give any additional details.
($1 = 3.9406 reais) (Reporting by Alberto Alerigi and Marcelo Rochabrun; writing by Tatiana Bautzer; editing by Brad Haynes, Rosalba O'Brien and)