Indian Prime Minister Narendra Modi's visit to Washington is making waves. On Sunday, Modi met with top tech executives, from Amazon's Jeff Bezos to Apple's Tim Cook and Google's Sundar Pichai. But the trickier discussion was likely with President Donald Trump as issues over trade and immigration loom large. However, during a joint press conference on Monday, both men complimented each other. Trump said Modi's tax and economic reforms mirror the principles he is aiming to pursue, too.
Takata is seeking bankruptcy protection in Japan and the United States. The airbag maker -- whose faulty inflators have been linked to several deaths worldwide -- has a debt load estimated at more than $9 billion. Takata also plans to sell most of its operations (but not the airbag inflator business) to Key Safety Systems for $1.6 billion. The money from the sale is expected to help Takata cover settlements to the families of victims as well as other legal costs.
Dan Loeb, the head of hedge fund Third Point, has shaken things up at Yahoo and Sotheby's. But now it looks like he has a bit of a sweet tooth. Third Point has bought a $3.5 billion stake in Nestle. Loeb, arguing that the company needs to slim down, wants Nestle to sell its U.S. business and unload its 23% stake in cosmetics giant L'Oreal. Nestle had no comment on Loeb's suggestions but said it keeps an "open dialogue" with all investors.
Italy is putting up $19 billion to avert a fresh crisis in its beleaguered banking system. The move over the weekend came after a warning from European authorities that two struggling Italian regional banks -- Banca Popolare di Vicenza and Veneto Banca -- were facing collapse. It's Italy's latest attempt to plug a hole in its fragile financial sector. Last year it had to bailout out Monte dei Paschi, the world's oldest operating bank.
Draghi speaks: ECB President Mario Draghi is scheduled to speak at an ECB conference in Sintra, Portugal on Tuesday morning.
Mexico's number that matters to Trump: President Trump has made trade a central issue. Mexico posts its trade balance data for May at 9 a.m. ET Tuesday. Trump often cites trade deficits and surpluses as reasons to renegotiate NAFTA.
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