Business & Finance News
Ford Motor Co said on Wednesday its North American unit will spend $180 million to correct a suspension issue in Explorer vehicles.
U.S. stocks opened flat on Wednesday as Washington’s tough stance heightened worries of a prolonged U.S.-China trade war, with losses offset by tame inflation data that supported the case for an interest rate cut.
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while a barely visible rise in U.S. inflation kept up talk of an early cut in interest rates there.
Wall Street was set to open slightly lower on Wednesday as worries of a protracted U.S.-China trade war was heightened by Washington’s tough stance, but losses were limited by tame inflation data that supported the case for an interest rate cut.
U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year.
British American Tobacco (BAT), the world’s No. 2 tobacco company, on Wednesday warned of steeper declines in cigarette sales globally mainly due to waning demand in its main U.S. market, sending its shares lower.
French President Emmanuel Macron has turned down a request to meet Renault chairman Jean-Dominique Senard, who is furious over the government’s interference at the carmaker, sources told Reuters, raising questions over Senard’s future.
Ford Motor Co on Wednesday opened a research center in Tel Aviv, joining a growing number of major automakers and suppliers setting up shop in the Israeli tech hub as they race to develop self-driving cars.
(This June 11 story has been corrected to delete erroneous reference to talks with McDonald’s in fifth paragraph, amend headline.)
Consumer goods group Reckitt Benckiser has picked PepsiCo executive Laxman Narasimhan as its next chief executive, becoming the latest industry heavyweight to turn to a company outsider to tackle faltering growth and new media-savvy rivals.
Hong Kong retailer Alan Li shut up shop on Wednesday, joining about 100 businesses and numerous workers in a rare strike to protest against an extradition bill that many fear will undermine freedom and confidence in the commercial hub.
British Prime Minister Theresa May said extradition rules in Hong Kong had to respect the rights and freedoms set out in the 1984 Sino-British Joint Declaration.
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on U.S. inflation was set to refine the odds of an early cut in interest rates there.
Britain urged the Hong Kong government to “pause and reflect” on an extradition bill that has sparked widespread protests, and said the former British colony must take steps to protect its rights, freedoms and high degree of autonomy.
Tesla Inc shares rose almost 3% in early trade on Wednesday, with analysts still divided on the electric-car maker’s chances of meeting delivery and production targets in the months ahead, after comments by Chief Executive Officer Elon Musk at an annual shareholder meeting.
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