Business & Finance News
Ford said it would close its plant in Bridgend, south Wales next year because of falling demand for some of its engines, putting 1,700 jobs at risk in a further blow to Britain’s once booming car industry.
Fiat Chrysler withdrew a proposal to merge with French rival Renault after it became clear discussions could go no further, but it remains “open to opportunities of all kinds”, its chairman wrote in a letter to staff.
Mexican and U.S. officials are set to resume talks on trade and migration on Thursday, with the United States resisting calls from its southern neighbor, businesses and some Republican lawmakers to ease up on a plan to impose import tariffs on Mexico.
U.S. President Donald Trump said on Thursday he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after a meeting of leaders of the world’s largest economies late this month.
FedEx Corp said it plans to hire about 700 flexible, part-time Express drivers in 160 U.S. residential and rural markets as customer-turned-competitor Amazon.com Inc puts pressure on established delivery firms.
Louis Vuitton, LVMH’s biggest sales driver, has beefed up stocks of its handbags and other luxury wares to feed its growing online business in mainland China, as Chinese consumers spend more at home, its management told analysts.
Officials of the U.S. Federal Reserve and International Monetary Fund separately warned on Thursday that global trade tensions and rising tariffs posed an increasing risk to decades of U.S. expansion, as well as to the global economy.
The head of the U.S. House Ways and Means Committee on Thursday vowed to take steps aimed at blocking tariffs on Mexican goods if President Donald Trump moves ahead with his economic threat to levy such imports on Monday.
The U.S. trade deficit unexpectedly narrowed in April as imports and exports tumbled, leading economists to warn that the Trump administration’s “America First” agenda was curbing trade between the United States and the rest of the world.
U.S. stocks eked out gains in choppy trading on Thursday, as hopes of an interest rate cut outweighed fears of a flare up in U.S.-China trade tensions after comments from President Donald Trump.
The U.S. Treasury yield curve flattened on Thursday as the European Central Bank committed to leaving interest rates steady into the first half of 2020, while major world stock indexes were mixed following U.S. President Donald Trump’s fresh tariff threat against China.
Alphabet Inc’s Google said on Thursday it would buy Looker, a privately held big-data analytics company, for $2.6 billion in cash, in the first major acquisition for new Google Cloud Chief Executive Thomas Kurian.
Shares of consumer staples companies are commonly seen as a safe harbor among U.S. equities but may be more susceptible to the fallout from tensions between the United States and its trading partners than other defensive sectors such as utilities and real estate.
U.S. Vice President Mike Pence said U.S.-Mexico talks would continue on Thursday, and reiterated President Donald Trump’s assessment that Mexico must do more to curb immigration at the border between the two nations.
U.S. stocks treaded water on Thursday as hopes of a rate cut helped counter fears of a further escalation in the trade war with China following comments from President Donald Trump.
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