Business & Finance News
Ford Motor Co said on Monday it will eliminate about 10% of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.
U.S. stocks fell on Monday, as a crackdown on China’s Huawei Technologies raised concerns of a bigger impact on chipmakers and added to fears of an escalation in trade war between the two nations.
Goldman Sachs said on Monday it has appointed Mazars to audit its European operations in a major coup for the Paris headquartered accounting firm.
Sprint Corp and T-Mobile US Inc has won the support of the chairman of the U.S. telecommunications regulator but will require a series of changes to their proposed $26 billion merger, including selling Sprint’s Boost Mobile cell service.
The Nasdaq Composite index fell more than 1% at the open on Monday, weighed down by fears about the impact on major technology companies from the United States’ crackdown on China’s Huawei Technologies.
Ford Motor Co said on Monday it will eliminate about 10% percent of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.
Total and Eni have stopped payments for the contaminated oil sold to them by Russian firms and said they will only pay when compensation is agreed, trading sources said, upping the stakes in what the sources say is Russia’s worst oil supply disruption.
U.S. stocks were set to open sharply lower on Monday, as fears over the impact on major technology companies from the United States’ crackdown on China’s Huawei Technologies added to concerns about the trade war between the two counties.
U.S. and European chipmakers fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
Mobile phone parts producer Lumentum Holdings Inc on Monday was the first U.S. company to confirm formally it was halting shipments to Huawei Technologies, following export restrictions put in place by the United States Department of Commerce.
Sprint Corp and T-Mobile US Inc on Monday will announce a series of changes to their $26 billion deal, while U.S. regulators are expected to announce agreement on the conditions necessary to approve the merger, sources said.
U.S. stock index futures fell on Monday, as fears over the impact on major technology companies from Washington’s crackdown on China’s Huawei Technologies added to concerns over worsening trade dispute between the world’s two biggest economies.
Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa (CCBA), and would instead keep its majority stake in the unit for the time being.
Mobile phone parts producer Lumentum Holdings Inc said on Monday it has discontinued all shipments to Huawei Technologies as it intends to fully comply with the recent United States Department of Commerce export restrictions.
Huawei will support its smartphones and tablets by providing security updates and services, it said, after Google barred it from updates to the Android operating system.
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