Ford Motor Co and General Motors Co , the top two U.S. automakers, have more than two dozen new battery electric vehicles (EVs) in the pipeline, according to their executives and suppliers familiar with the companies’ plans.
General Motors Co and Ford Motor Co have widely touted their commitment to emission-free electric cars, but their production plans show a growing reliance on ever-larger gas-powered vehicles. The two biggest U.S. automakers will make more than 5 million SUVs and pickup trucks in 2026, but only about 320,000 electric vehicles, according to detailed production plans for North America seen by Reuters. …read more […]
Due to restrictions on large gatherings, the general meeting of shareholders to approve certain matters for the deal to go through has been postponed to June 30, Mylan said. There were no other changes to previously announced terms or plans pertaining to the deal, previously expected to close in mid-2020, the companies said. The merger, which will bring blockbuster treatments Viagra and Lipitor from Pfizer under one umbrella with Mylan’s EpiPen, is part of years-long effort by Pfizer to split into three parts – innovative medicines, lower margin off-patent drugs facing generic competition and consumer healthcare. …read more […]
The U.S. Senate’s unanimous passage of a $2 trillion coronavirus relief bill sent the unprecedented economic legislation to the House of Representatives, whose Democratic leaders hope to pass it on Friday.
Top news and what to watch in the markets on Thursday, March 26, 2020. …read more […]
White-collar crime prosecutors and defense attorneys are likely to be busy following a massive economic stimulus package from the U.S. Congress aimed at mitigating the fallout from the coronavirus, according to a new academic study of insider trading.
Norway’s $930 billion sovereign wealth fund, the world’s largest, has lost 1.33 trillion Norwegian crowns ($124 billion) so far this year as stock markets plunged amid the coronavirus outbreak, it said on Thursday.
U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank’s derivatives exposure above a key regulatory threshold, according to two sources with knowledge of the matter.
Deutsche Bank is laying the groundwork for taking advantage of a government-run short-time work scheme for some of its employees in Germany as it deals with fallout of the coronavirus, a spokeswoman said on Thursday.
SINGAPORE/NEW DELHI/SEOUL (Reuters) – Oil refiners from Texas to Thailand are bracing for deeper output cuts, bruised by an unprecedented demand shock as more countries lock down and restrict travel to contain the spread of the coronavirus. In Asia, home to over a third of the global refining capacity, India’s top refiner has slashed output by up to 25%-30% while operators in Japan, South Korea and Thailand – already running at reduced rates – are looking at more cuts even as they shut plants for maintenance. China, which restarted its economy after weeks of lockdown, is an outlier …read more […]
Bitcoin’s mining difficulty, an indicator of competition among bitcoin miners, has seen the second-largest decline in the network’s history.The post Bitcoin’s mining difficulty sees the second-largest drop in history appeared first on The Block. …read more […]
Oilfield services firm Halliburton and Russia’s Gazprom Neft have signed an outline agreement on technological cooperation to construct wells at the Achimov oil formation in Siberia, Gazprom Neft said on Thursday. Cooperation between Western and Russian oil and gas producers has been curtailed by the sanctions imposed on Russia by the United States and Europe following Moscow’s annexation of Crimea from Ukraine in 2014. Gazprom Neft and the Houston, Texas-based company, have been working on a number of projects since 2011. …read more […]
World share markets fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package.
Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the coronavirus destroyed demand and overshadowed expectations that a U.S. $2 trillion emergency stimulus will bolster economic activity.
“This is the biggest, fastest thing I’ve ever seen Congress do and I’m still not sure if it’s enough,” says Obama’s former Chair of Economic Advisers Jason Furman. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
