General Motors Co said on Wednesday it plans to temporarily lay off about 1,200 workers at its Oshawa assembly plant in Canada, which makes the Chevy Silverado and GMC Sierra pickup trucks.
The U.S. Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next.
The Federal Reserve on Wednesday tweaked two key rates used to manage its main policy lever after turmoil this week in funding markets briefly pushed the overnight bank-to-bank lending rates above the U.S. central bank’s target range.
Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:
The U.S. Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next.
The chief technology officer of United Technologies Corp , Paul Eremenko, has stepped down, just under two years after moving to the U.S. conglomerate from Europe’s Airbus .
General Motors Co plans to temporarily lay off 1,300 workers at its final assembly plant in Oshawa, Canada due to a slowdown at United States plants during the United Auto Workers strike, CNBC reported on Wednesday.
A banker at the center of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an “industrial scale” involving a network of banks and other institutions.
Nearly two dozen U.S. lobbying groups have joined forces to try to rein in U.S. President Donald Trump’s power to unilaterally impose tariffs amid growing concern about the negative economic impact of his trade policies.
Munich prosecutors said on Wednesday they had launched a probe against Airbus after the company notified the authorities about potential irregularities involving customer documents.
U.S. stocks came under pressure on Wednesday as investors waited for the Federal Reserve’s decision on interest rates and clues about its future monetary policy, while a profit warning by FedEx weighed on sentiment.
JPMorgan Chase & Co Chief Executive Jamie Dimon credited the U.S. Federal Reserve on Wednesday with doing the “right thing” in supporting the overnight funding needs of banks after borrowing costs suddenly spiked on Monday.
The Federal Reserve injected more cash into the U.S. banking system on Wednesday as the key interest rate pierced above the central bank’s targeted range for the first time since the height of the global financial crisis over a decade ago.
Germany’s blue-chip companies could face billions of euros in costs to cut carbon emissions under a climate protection plan due to be unveiled by the government on Friday, according to a study by asset manager Union Investment.
The London Metal Exchange (LME) will postpone plans to ban metal tainted by human rights abuses until 2025, giving producers three more years to comply with guidelines and the exchange time to rethink its approach, industry sources said.
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