India’s steel ministry is putting pressure on automakers to use locally made steel by refusing to back down on tougher import rules despite warnings that the new regulations could disrupt the production of cars, government and industry sources said.
Fiat Chrysler Automobiles NV has agreed to pay close to $800 million to settle claims from the U.S. Justice Department and California relating to allegations it used illegal software that produced false results on diesel-emissions tests, according to court filings Thursday.
U.S. stocks looked set to snap a four-day rally on Thursday as disappointing holiday-season results from Macy’s hammered retail stocks and no clear signs of a resolution emerged from U.S.-Chinese trade talks.
Fiat Chrysler Automobiles NV has agreed to pay $305 million in civil penalties to resolve claims from the U.S. Justice Department and California over allegations it used illegal software to emit excess diesel emissions.
HSBC Holdings Plc has agreed to pay $30 million to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015.
President Donald Trump said on Thursday the United States was having tremendous success with China on trade, a day after U.S. and Chinese officials concluded three days of trade talks in Beijing.
Sears Holdings Corp Chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company on Thursday, a regulatory filing showed, providing hope the 126-year-old U.S. department-store chain could avoid liquidation.
Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya’s main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said.
U.S. stocks opened lower on Thursday after a four-day rally, on disappointment over lack of details from the U.S.-China trade talks and holiday-season reports from retailers.
Macy’s Inc cut its comparable sales forecast for the holiday quarter on Thursday while year-end sales growth at rival Kohl’s Corp disappointed investors, signaling retailers’ continued struggle to keep up with a shift toward online shopping.
Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya’s main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said.
Jaguar Land Rover (JLR) will cut 10 percent of its workforce, mostly in its home market, as Britain’s biggest carmaker faces lower Chinese demand and a slump in European diesel sales.
Shares of Macy’s Inc plunged 17 percent in early trading on Thursday, after the department store operator cut same-store sales forecast for the crucial holiday quarter due to weak demand during mid-December.
A four-day rally in world stocks ran out of steam on Thursday and the dollar touched a near three-month low as mixed signals from U.S.-China trade talks and caution at the Federal Reserve applied the brakes.
American Airlines Group Inc on Thursday cut its estimate for a closely watched revenue metric for the fourth quarter, raising concerns that travel demand in the U.S. may be taking a hit from slowing global growth and trade tensions.
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