Business & Finance News
Britain’s biggest carmaker Jaguar Land Rover has yet to make an imminent decision on whether to build electric cars in its home market partly due to uncertainty over the final Brexit terms, its boss told Reuters on Tuesday.
Brent oil prices fell on profit-taking on Tuesday but remained near their highest since November 2014 as markets braced for tighter supply once U.S. sanctions against Iran kick in next month.
Carmakers ratcheted up their warnings on Tuesday over a disorderly Brexit, with France’s PSA Group and Germany’s BMW both saying UK production would suffer if Britain leaves the European Union without a deal.
Amazon.com Inc said on Tuesday it is raising its minimum wage to $15 per hour for all U.S. employees including full-time, part-time, temporary and seasonal employees, starting November 1.
PepsiCo Inc reported quarterly revenue above Wall Street estimates on Tuesday, fueled by strong demand for its beverages and snacks in Latin America.
German carmaker BMW will shift more production of Mini vehicles to the Netherlands if Britain leaves the European Union without a trade agreement, Chief Executive Harald Krueger said on Tuesday.
Radisson Hospitality will invest in ten new hotels across Africa, the company said on Tuesday, the latest hotel group eyeing expansion on an underdeveloped continent.
World stocks went south and European assets sold off on Tuesday after anti-euro comments from an Italian party official weighed on the single currency and sent Italy’s bond yields up to multi-year highs.
If Britain’s departure from the European Union disrupts trade to the extent PSA Group has to make cars separately for the two markets, there would “necessarily be an impact” on its UK production, the automaker’s European boss said on Tuesday.
The euro fell towards a five-week low on Tuesday after a senior official from Italy’s ruling party said most of the country’s problems would be resolved if it scrapped the euro for its own currency.
Japanese automaker Mazda Motor Corp welcomed on Tuesday a new trade deal between the United States, Mexico and Canada, and said it would work to meet new rules on components used in Mazda vehicles made in Mexico.
U.S. oil prices hit their highest level since November 2014 on Tuesday and Brent crude was also near a four-year peak reached the previous day, with markets preparing for tighter supply once U.S. sanctions against Iran kick in next month.
Asian stocks fell on Tuesday as the lift from an agreement that saved the North American free trade deal faded, with cautious views on the global economy curbing risk sentiment.
Japanese automaker Mazda Motor Corp on Tuesday welcomed a new trade deal between the United States, Mexico and Canada, and said it would work to meet new rules on components used in Mazda vehicles made in Mexico.
Oil markets rose on Tuesday, with Brent crude holding above $85 and near four-year highs reached the previous day as markets prepare for tighter supply once U.S. sanctions against Iran kick in next month.
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