Oil fell more than 3 percent on Monday, heading for its biggest one-day percentage drop in a month due after an increase in U.S. crude drilling pointed to further supply growth.
Tariffs imposed by the Trump administration will limit growth of U.S. real gross domestic product by an average of 0.1 percent each year for the next 10 years if they remain in place at current levels, the Congressional Budget Office (CBO) said on Monday.
A Volvo Cars joint venture has won approval to begin hands-free testing of its software for self-driving cars on Swedish highways, partner Veoneer said on Monday.
Saudi Arabia’s Public Investment Fund has slashed its exposure to Tesla Inc, the Financial Times reported on Monday, citing people with direct knowledge of the matter, sending the electric car maker’s shares down 2.2 percent in mid-day trading.
Volkswagen’s business in Slovakia, the country’s biggest car plant and largest private sector employer, plans to reduce staff this year for the first time since the 2009 global downturn as part of an efficiency drive.
Caterpillar Inc expects price increases in 2019 to be mostly offset by higher costs, Chief Financial Officer Andrew Bonfield said on a conference call with analysts on Monday.
Shares of power producer PG&E Corp jumped on Monday after a report by Bloomberg News that said an investor group had offered the company a $4 billion alternative plan that would avoid bankruptcy, CNBC reported on Monday.
Apparel maker Guess Inc said on Monday Chief Executive Officer Victor Herrero will step down and named former top executive Carlos Alberini as his replacement.
U.S. stocks fell on Monday as weak forecasts from Caterpillar Inc and Nvidia Corp fueled worries about a slowdown in China taking a bigger bite off corporate profits.
Tesco, Britain’s biggest retailer, could ax 9,000 jobs in its UK stores and head office with its latest move to simplify operations and achieve targeted cost savings.
Caterpillar Inc on Monday reported quarterly profit that widely missed Wall Street estimates, hurt by softening demand in China and higher manufacturing and freight costs, sending shares tumbling more than 8 percent.
The U.S. economy is expected to lose $3 billion from the 35-day partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday.
Oil headed for its biggest one day drop in a month on Monday on evidence of yet more growth in U.S. crude supply, although the price is still on course for its strongest January gain for 14 years.
U.S. stocks dived on Monday, as weak forecasts from Caterpillar Inc and Nvidia Corp fueled worries about a slowdown in China taking a bigger bite off corporate profits.
Wall Street analysts expect Tesla Inc to forecast a loss for the first quarter when it reports results on Wednesday, having changed their expectations for a profit after Chief Executive Officer Elon Musk warned of a “very difficult” road ahead.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
