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Business News

Trump threatens Harley-Davidson over European production move

WASHINGTON/CHICAGO (Reuters) – U.S. President Donald Trump threatened Harley-Davidson Inc with higher taxes on Tuesday and said the motorcycle maker, which he previously hailed as a model of American manufacturing, would suffer from a public backlash if it went ahead with a plan to move production for European customers overseas.

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Business News

Automakers to warn Trump of $45 billion higher vehicle costs if tariff imposed

WASHINGTON (Reuters) – An automotive trade group said on Tuesday it would tell the Trump administration that a U.S. threat to impose a tariff of up to 25 percent on imported passenger vehicles under national security grounds would cost American consumers $45 billion annually, or $5,800 per vehicle.

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Trading Ideas

Baker Hughes to Go It Alone as GE Seeks Exit From Oil Business

Baker Hughes will emerge from the shadow of parent General Electric Co. amid unprecedented turmoil and dislocation in the global oil business. GE’s plan to unload its 62.5 percent stake in the oilfield-services company over the next two to three years will leave Baker Hughes in much the same place it was before the industrial conglomerate absorbed it last year: battling the behemoths of oil services — Schlumberger Ltd. and Halliburton Co. — for customers and contracts. Since that combination, rising crude prices haven’t translated into improved results in many parts of the globe and Baker Hughes’s stock …read more […]