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According to reports, chief financial officer (CFO) of Uber, Brent Callinicos, has decided to leave the job. Callinicos has decided to step down after working for about two years at Uber.

The reports stated that the CFO has taken the decision to spend more time with his family. Callinicos has provided more details about his decision in an email sent to the Uber team.

Callinicos said, "It is time to do what I have desired for a very long time; time to keep a promise to my wife of not missing another school play, swim meet, or academic achievement of our daughter's childhood".

Brent crude dropped below $54 a barrel in choppy trade on Tuesday. On the other side, the Atlantic dropped for a sixth session to only above a six-year low.

Recent reports suggested that the US rig count fell to 1,125 last week from 1,809 rigs a year ago. From the Past cycles it has been found that there is frequently a lag between when drilling stops and when oil supply stops growing. Brent was trading at $53.59, down 35 cents, by 0807 GMT.

The April contract that ended in earlier session closed down $1.23 after hitting $52.50 earlier on Monday. US crude was at $43.41 a barrel and it is down 47 cents. Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance said that traders are going to be quite happy to see the spread go out to $15-20.

Canadian pharmaceutical major Valeant Pharmaceuticals International has increased its offer for Salix Pharmaceuticals to $10.96 billion in cash.

Valeant concentrates on neurology, dermatology and infectious disease with numerous drugs in late-stage clinical trials and numerous currently on the market. Salix Pharmaceuticals develops drugs and medical devices that prevent and treat many gastrointestinal disorders.

Salix Pharmaceuticals said yes to Valeant's new offer of $173 a share. The price offered is higher compared to $158 per share in cash late last month. According to experts, it would be the largest purchase that Canada-based Valeant ever made. It would be also better for investor Bill Ackman. Ackman made an announcement last week that he had purchased over $3

On Monday, Fast Food Forward, a union-back group, unveiled about a series of complaints it has filed against McDonald's Corp to Occupational Safety and Health Administration.

As per the group being backed by the Service Employees International Union, McDonald's Corp. should be held liable under federal rules for worker-safety violations at its franchised restaurants. The group has alleged violations by 19 McDonald's franchises and nine McDonald's Corp.-owned stores.

The group said that it has prepared a detailed legal argument that would be enough to convince OSHA that the fast-food company has done violations. It is said that the group would present the argument in front of OSHA in the next few weeks.

The private-equity firms Leonard Green & Partners and TPG Capital have decided to buy Life Time Fitness in a transaction valued at more than $4 billion. It will be one of the biggest buyouts of the year.

According to a prepared statement, the investor group including LNK Partners and Life Time's chief executive officer, Bahram Akradi, will pay $72.10 a share in cash for the Minnesota-based company.

The price has reflected a 73% premium to the closing price on August 22, before Life Time said that it was considering its strategic options.

An analyst anticipated that Netflix, headed by CEO Reed Hastings, will have to spend an additional $1.5 billion on content this year in order to compete with its rivals. According to Evercore ISI analyst Ken Sena, competition could create problems for the company to 'sell' from 'hold'. Snapchat's new Discover platform, Apple's teaming with HBO Now and ABC's streaming of 'The Oscars Backstage' on Facebook could all hinder the company's development.

According to Sena, the extra expenditure on content will cut Netflix's free cash flow for 2015, to a negative $677 million, compared to an estimation of negative $97 million by Street.