Wall Street was set to open higher on Wednesday on hopes of a trade truce between the United States and China at the G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
General Motors Co’s monumental announcement on Monday that it will close three car assembly plants in North America and slash its workforce will only partially close the gap between capacity and demand for the automaker’s sedans, according to a Reuters analysis of industry production and capacity data.
President Donald Trump said on Wednesday General Motors Co should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn’t keep jobs in the country.
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year.
Fears of a prolonged U.S.-China trade war and a potentially overzealous Federal Reserve have left Wall Street strategists less optimistic about stock market gains next year, but they still expect a decent increase, a Reuters poll found.
General Motors Co and fellow Detroit automakers Ford Motor Co and Fiat Chrysler Automobiles NV continue to winnow production of cars in North America as demand for traditional sedans wanes. GM announced on Monday it will halt production at three North American assembly plants and slash thousands of jobs.
Tiffany & Co’s sales in the United States and Hong Kong took a hit in the latest quarter as Chinese tourists spent less than expected, sending the jewelry maker’s shares down nearly 8 percent on Wednesday.
The arrest of Renault-Nissan boss Carlos Ghosn has triggered new attempts by the Japanese carmaker to shake off the control of its French parent – adding to the problems piling up on President Emmanuel Macron’s desk in the Elysee Palace.
Energy Transfer LP and its Sunoco pipeline subsidiary have racked up more than 800 state and federal permit violations while racing to build two of the nation’s largest natural gas pipelines, according to a Reuters analysis of government data and regulatory records.
U.S. stock index futures climbed on Wednesday on expectations of a breakthrough in U.S.-China trade talks at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
Tiffany & Co missed estimates for quarterly same-store sales on Wednesday, blaming lower-than-expected spending by mainland Chinese tourists at its U.S. and Hong Kong stores.
Tiffany & Co missed estimates for quarterly same-store sales on Wednesday, hit by lower-than-expected spending by Chinese tourists at its U.S. and Hong Kong stores.
AXA , Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia.
Hopes for a thaw in U.S.-China trade relations at the upcoming G20 summit helped world shares inch to a one-week high on Wednesday, though fears of a no-deal outcome weighed on European bourses and kept the dollar firm for the fourth day in a row.
A group set up by European fashion brands to improve factory safety in Bangladesh has sought a stay on a court order that calls for its local operations to end this week, its executive director said on Wednesday.
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