General Motors Co reached 200,000 cumulative U.S. electric vehicles sold late last year, triggering a phase-out of a $7,500 federal tax credit over the next 15 months, a person briefed on the matter said on Wednesday.
Wall Street was little changed on Wednesday, clawing back from losses of more than 1 percent earlier, as gains in energy and bank stocks helped offset worries about a global economic slowdown.
Netflix Inc said on Wednesday it had appointed media finance veteran Spencer Neumann from Activision Blizzard as its chief financial officer.
Oil prices rose 4 percent in choppy trading on Wednesday, but concerns remained about rising crude production and weakening global economic growth which could hurt demand for oil.
Shares in Tesla Inc dropped as much as 9 percent on Wednesday after the electric car maker cut U.S. prices for all its vehicles to offset lower green tax credits and fell short on deliveries of its mass-market Model 3 sedans in the fourth quarter.
The Frankfurt prosecutor’s office has dropped an insider trading case against former Deutsche Boerse Chief Executive Carsten Kengeter in exchange for payments of almost 5 million euros ($5.68 million).
U.S. stocks were flat on Wednesday morning, clawing back from losses of more than 1 percent earlier, helped by energy stocks as oil prices reversed earlier losses and bank stocks as 10-year U.S. treasury yields moved off a near year-low.
Oil prices rose 3 percent on Wednesday, tracking U.S. equity markets that also pared some earlier losses, but traders said concerns about rising crude production and weakening global economic trends were likely to keep rallies contained.
Tesla Inc shares fell 9 percent on Wednesday after the electric car maker delivered fewer-than-expected Model 3 sedans in the fourth quarter and cut prices for all its vehicles in the United States to offset a reduction in a green tax credit.
U.S. stocks started the new year with a more than 1 percent decline on Wednesday, as weak data in Asia and Europe confirmed fears of a global economic slowdown while the U.S. government shutdown dragged on.
The benchmark 10-year U.S. government bond hit an 11-month low on Wednesday, beginning the year down nearly 50 percent from its 2018 high amid concerns about a global growth slowdown.
The Frankfurt prosecutor on Wednesday said it has dropped a probe against Deutsche Boerse’s former Chief Executive Carsten Kengeter who was being investigated for suspected insider trading.
U.S. stocks opened lower in the first session of the year as weak data in Asia and Europe confirmed fears of a global economic slowdown while the U.S. government shutdown dragged on.
Oil fell toward $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and concerns about an economic slowdown that could weaken demand.
Tesla Inc shares sank 8 percent on Wednesday after the electric car maker delivered fewer-than-expected Model 3 sedans in the fourth quarter and cut prices for all its vehicles in the United States in response to the loss of a green tax credit.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
