Business & Finance News
Stronger automotive content rules that are emerging from NAFTA negotiations are expected to keep North America competitive as a production base and allow General Motors , Ford and Fiat Chrysler to remain competitive globally, the head of their trade group said on Thursday.
U.S. stocks fell on Thursday, hurt by declines in commodity-related sectors and trade-sensitive companies as new trade tariffs came into effect in the U.S.-China trade war, although gains in technology shares helped limit losses.
Credit Suisse said it remained committed to Russia after it ringfenced 5 billion Swiss francs ($5.02 billion) of customer money linked to Russia for fear of falling foul of U.S. sanctions.
The number of U.S. lawsuits brought against Bayer’s newly acquired Monsanto has jumped to about 8,000, as the German drugmaker braces for years of legal wrangling over alleged cancer risks of glyphosate-based weedkillers.
Funds run by Fidelity Investments sided with Tesla Inc management on director votes and other controversial items this spring, filings showed on Thursday, which experts said could presage further support for the carmaker’s CEO, Elon Musk, as he looks to take the company private.
Mizuho Financial Group Inc will shed its conservative approach to lending and take on greater risk at home and abroad, its new chief executive told Reuters, as Japan’s second-largest bank by assets looks to reverse its falling profitability.
Iran’s top envoy to Britain said on Thursday a decision by British Airways to suspend flights to Tehran from September was regrettable.
The French arm of Franco-Dutch airlines group Air France KLM said Thursday it will stop its flights to Tehran in September for business reasons.
Bayer said the number of U.S. lawsuits brought against newly acquired Monsanto has risen to about 8,000 from 5,200 previously, after Monsanto was ordered to pay damages for not warning of alleged cancer risks of glyphosate-based weedkillers.
British Airways said on Thursday it is suspending flights between London and Tehran because they are not commercially viable.
Shares of L Brands Inc hit their seven-year low on Thursday after the parent of Victoria’s Secret cut its full-year earnings forecast, blaming falling demand for its Pink line of lingerie.
The number of Americans filing for unemployment benefits fell last week, a sign the labor market was holding firm despite tensions between the United States and its trading partners that have led to tit-for-tat tariffs.
Britain on Thursday told companies trading with the European Union they would face a tangle of red tape, possible border delays and more costly credit card payments if the government fails to negotiate an exit deal before Britain leaves the bloc.
British business welcomed a commitment from the government to change how import VAT has to be paid should Britain leave the European Union without a deal – a technical accounting tweak that should avert a cashflow “time bomb” for many companies.
U.S. stocks opened flat on Thursday as markets speculated on the future path of interest rate hikes and new tariffs took effect in the U.S.-China trade war.
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