Wall Street got off to a strong start of the fourth quarter on Monday, with industrials and automotive stocks leading a broad rally after a last-minute deal to salvage NAFTA as a trilateral pact.
President Donald Trump on Monday said the trade deal with Canada and Mexico that replaces NAFTA will lead to thousands of jobs in the United States, adding that the two U.S. trading partners had agreed to labor, intellectual property and environmental provisions.
Incoming Mexican foreign minister Marcelo Ebrard on Monday said the government that takes office in December will promote an active industrial policy to help small companies adapt to rules in the new United States-Mexico-Canada Agreement trade deal.
British lender Standard Chartered Plc is bracing for a possible new fine of about $1.5 billion linked to violations of previous Iran sanctions, a Bloomberg reporter tweeted https://twitter.com/AmberChoudhury/status/1046778971277455360.
A last-minute agreement between the United States and Canada to rescue a trilateral NAFTA accord with Mexico drove up global stock markets and the Canadian dollar on Monday.
German conglomerate Thyssenkrupp on Monday defended a landmark deal to split into two as concerns mounted over whether the plans, which will result in a 1 billion euro ($1.2 billion) tax hit, go far enough.
Pfizer Inc Chief Executive Officer Ian Read will hand over the reins of the largest U.S. drugmaker to veteran insider Albert Bourla in January, after eight years at the helm, in the backdrop of increased scrutiny over drug pricing.
General Electric Co ousted Chief Executive Officer John Flannery in a surprise move on Monday, replacing him with outsider and board member Larry Culp, and said it would take a roughly $23-billion charge to write off goodwill in its power division, primarily from a large 2015 acquisition.
The United States and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, rescuing a three-country, $1.2 trillion open-trade zone that had been about to collapse after nearly a quarter century.
U.S. President Donald Trump on Monday took credit for salvaging a trilateral free trade accord with Canada and Mexico, marking it as a victory in his campaign to reshape global commerce as financial markets breathed a sigh of relief.
U.S. manufacturing activity slowed in September as growth in new orders moderated sharply, but factories hired more workers, pointing to sustained strength in the sector.
Thyssenkrupp last week unveiled plans to spin off its capital goods business into a separately-listed entity, effectively splitting the conglomerate in two.
Husky Energy Inc’s hostile bid for MEG Energy Corp reflects the need for Canadian oil companies to own integrated assets, from production to refineries, to manage the deep price discounts on Canadian crude, Husky’s chief executive said on Monday.
Tesla Inc produced 53,000 Model 3 sedans in the third quarter ended Sept. 30, Electrek reported on Monday, citing a source familiar with the matter.
U.S. stocks advanced on Monday, led by gains in shares of technology and industrial companies, as a last-minute deal to save NAFTA as a trilateral pact raised hopes for progress in talks with other countries at the start of the fourth quarter.
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