Oil prices jumped more than 4 percent on Wednesday as the extension of U.S.-China talks raised hopes of easing trade tensions between the two superpowers, while OPEC-led crude output cuts also provided support.
Workers at General Motors Co assembly plant in Oshawa, Ontario staged a sit-down protest that interrupted production for about two hours on Wednesday morning, a union spokeswoman said, following a similar protest late on Tuesday.
Volkswagen and Ford will unveil an expanded alliance during the Detroit auto show that goes beyond cooperating in the area of commercial vehicles, two sources familiar with the discussions said on Wednesday.
Volkswagen AG said on Wednesday it had hired an executive from Apple as a director responsible for technical development at its commercial vehicles division.
Amazon.com Inc founder Jeff Bezos, the world’s richest man, and wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said in a joint statement on Twitter on Wednesday.
The Justice Department has said in a court filing that a partial government shutdown could delay its response to comments on pharmacy chain CVS Health Corp’s purchase of health insurer Aetna, a necessary step in a court giving final approval to the deal.
Europe’s Airbus gave up a five-year winning streak in its order race against U.S. rival Boeing, slumping to its lowest share of the $150 billion jet market in six years despite a boost from a newly acquired Canadian product, new data showed on Wednesday.
U.S. stocks rose modestly on Wednesday, angling for a fourth day of gains led by technology and other trade-sensitive sectors following signs of progress in trade talks between the United States and China. Hopes of a deal between the world’s two largest economies that could avert an escalation of ongoing trade tensions, plus strong data on the U.S. job market and indications the Federal Reserve now appears to be in no rush to lift interest rates further, have helped lift the S&P 5
Oil prices jumped more than 2 percent on Wednesday as the extension of U.S.-China talks raised hopes of easing trade tensions between the two superpowers, but gains were capped by signs of rising U.S. refined product supply.
Chicago law firm Corboy & Demetrio said on Tuesday it filed a lawsuit against electric carmaker Tesla Inc alleging that its 2014 Model S sedan had a defective battery pack that caused the death of an 18-year old passenger in an accident last year.
Lennar Corp reported lower-than-expected quarterly home sales and orders on Wednesday, confirming fears that the U.S. housing market is slowing in the face of higher interest rates and rising prices after years of robust growth.
Lennar Corp said it was seeing improvement in buyer traffic in the first quarter of fiscal year 2019 as interest rates begin to ease after climbing to multi-year highs in the past year.
Stocks around the world extended recent gains and oil prices jumped on Wednesday on optimism that the United States and China may be inching towards a trade deal, soothing fears of an all-out trade war and its possible impact on global growth.
A Federal Reserve official said on Wednesday he expects three interest-rate rises this year assuming the U.S. economy remains reasonably strong, adding it was a “very good time” to watch how political developments play out.
China has pledged to purchase “a substantial amount” of agricultural, energy and manufactured goods and services from the United States, the U.S. Trade Representative’s office said on Wednesday after U.S.-China trade talks wrapped up in Beijing.
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