NEW YORK (Reuters) – U.S. stock index futures indicate Wall Street will make moderate gains on Monday as retail earnings queue up and with housing data in the offing. Second-quarter earnings season is mostly over, with major retailers yet to post results. Walm... More »
FRANKFURT (Reuters) – Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation. Global car and truck makers are exploring way... More »
STOCKHOLM (Reuters) – Swedish truck maker Volvo (VOLVb.ST) said on Tuesday it had signed a deal with German rival Daimler (DAIGn.DE) to set up a joint venture to develop and produce fuel cell systems for heavy-duty vehicles. Daimler will consolidate all its cu... More »
HELSINKI (Reuters) – Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday. Suri has been in the role for si... More »
PARIS (Reuters) – French train maker Alstom (ALSO.PA) has confirmed it is in talks on the possible acquisition of the train business of Canada’s Bombardier (BBDb.TO), a potential $7 billion deal that could help it build scale in the increasingly competitive ra... More »
BOSTON (Reuters) – Activist hedge fund Marcato Capital Management, backed by Blackstone Group and billionaire William Ackman, is shutting down as assets have shriveled after two years of poor returns, sources said on Sunday. Richard McGuire, the firm’s founder... More »
WASHINGTON (Reuters) – U.S. Senate Democratic leader Chuck Schumer is asking the federal government to investigate if a plan for new subway cars in New York City, designed by a Chinese state-owned firm, could pose a threat to national security. The move comes ... More »
WASHINGTON (Reuters) – William Barr, nominated by President Donald Trump to become U.S. attorney general, plans to recuse himself from a major antitrust case, according to people who spoke with him on Thursday, as he navigates possible conflicts of interest pr... More »
MILAN (Reuters) – Fiat Chrysler’s (FCHA.MI) European boss has quit, adding to the problems facing new CEO Mike Manley who must deliver on promises to boost production of SUVs and catch up with rivals in electric cars. Jeep division head Manley was named on Sat... More »
SAN FRANCISCO (Reuters) – Halfway through 2018, investing in Wall Street’s leading S&P 500 stock index has been nothing to shout about. The index of about 500 of the largest U.S. corporations has risen 1.7 percent year to date, far short of its 8 percent incre... More »
(Reuters) – General Electric Co (GE.N) is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec Corp (WAB.N), a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. A de... More »
KANE COUNTY, Ill. (Reuters) – Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new $71,000 grain storage bin last month – after the seller raised the price 5 percent in a day. The reason: steel prices jumped right a... More »
WOLFSBURG, Germany (Reuters) – Volkswagen’s (VOWG_p.DE) new Chief Executive Herbert Diess on Friday said he will consider asset sales and seeks to turn the multi-brand conglomerate into a slimmed down company with strong brands. Speaking at his first news conf... More »
WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) will not list its trucks business this year and has no plans to cede control of the division, chairman Hans Dieter Poetsch said on Friday. “We want to ready the business for capital markets,” Poetsch said, ... More »
The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, March 12, 2018. REUTERS/Staff/Remote MILAN (Reuters) – European shares hit their highest level in almost two weeks on Monday, boosted by gains among German utilities ... More »
DETROIT (Reuters) – If U.S. President Donald Trump goes ahead with sweeping tariffs on steel and aluminum imports, it could lower profits for companies making everything from pickup trucks to canned soup, or result in higher prices for consumers. Trump has thr... More »
A partially assembled Chevrolet 2017 Sonic is seen on the assembly line at GM’s Orion Assembly plant in Orion, Michigan, U.S., June13, 2017. REUTERS/Rebecca Cook (Reuters) – Stock prices of U.S. steel and aluminum makers rose on Thursday after President Donald... More »
FILE PHOTO: Canadian Foreign Minister Chrystia Freeland gives a speech during a joint news conference with Mexican Foreign Minister Luis Videgaray and U.S. Secretary of State Rex Tillerson in Mexico City, Mexico February 2, 2018. REUTERS/Henry Romero OTTAWA (R... More »
Volvo Cars CEO Hakan Samuelsson shows their new model V60 station wagon at a press meeting outside Stockholm, Sweden February 21, 2018. TT News Agency/Henrik Montgomery/ via REUTERS STOCKHOLM (Reuters) – Truckmaker AB Volvo (VOLVb.ST) is to drop the CEO of Gee... More »
The leaping deer trademark logo is seen on a sign outside a John Deere dealership in Taylor, Texas, U.S., February 16, 2017. REUTERS/Mohammad Khursheed (Reuters) – U.S. farm equipment maker Deere & Co (DE.N) on Friday reported a 23 percent jump in first-quarte... More »
FILE PHOTO – Workers of planemaker Airbus stand in front of the main entrance during a 24-hour strike of German Metal Workers Union IG Metall in Hamburg-Finkenwerder, Germany, February 2, 2018. REUTERS/Fabian Bimmer FRANKFURT (Reuters) – Industrial workers and... More »
FILE PHOTO: Tesla’s new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. REUTERS/Alexandria Sage/File Photo SEATTLE (Reuters) – Elon Musk, the chief executive of Tesla Inc, has said little about how he pl... More »
BMW workers during a 24-hour strike by German industrial trade union IG Metall in Berlin, Germany, February 2, 2018. Placard reads “6% more, we find fair”. REUTERS/Christian Mang FRANKFURT (Reuters) – Car factories across Germany were at a standstill on Friday... More »
A woman shops at Brookfield Place in Lower Manhattan in New York City, U.S., December 1, 2017. REUTERS/Brendan McDermid WASHINGTON (Reuters) – The U.S. economy likely maintained a brisk pace of growth in the fourth quarter, driven by an acceleration in consume... More »
FILE PHOTO: Audi cars are parked in front of the company’s headquarters in Ingolstadt, Germany, March 15, 2017. REUTERS/Lukas Barth HAMBURG (Reuters) – Workers at carmakers Audi (NSUG.DE) and BMW (BMWG.DE) staged further strikes on Friday but German labor lead... More »
FILE PHOTO – A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo SYDNEY (Reuters) – Mining giant Rio Tinto Ltd said it plans to expand its fleet of autonomous ... More »
The Tesla Semi. Tesla/via REUTERS (Reuters) – Tesla Inc (TSLA.O) on Friday got high-profile orders from Wal-Mart Stores Inc (WMT.N) and fleet operator J.B. Hunt (JBHT.O) for its future electric truck, but would-be customers indicated they are giving the big ri... More »
Convincing big U.S. dairy owners to buy robots to milk their cows - and reduce the farmhands they employ - used to be a tough sell for Steve Fried. Recently, his job has gotten easier, he says, in part because of President Donald Trump. More »
The revelation that Japan's third-biggest steelmaker Kobe Steel Ltd (5406.T) fabricated data for some of its aluminum and copper and other products has left affected manufacturers scrambling to pin down the potential impact. More »
Less than half the trucks exported from Navistar's mammoth Escobedo plant in Mexico are sold in North America but the factory's success remains tightly tied to the uncertain future of the region's NAFTA free trade deal. More »
Trade tensions between Washington and Beijing may be running high but Corporate America is finding China to be a reliable source of profit growth this year. More »
A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters, in Wolfsburg, Germany May 19, 2017. Volkswagen (VOWG_p.DE) is considering options for majority-owned transmissions maker Renk (ZARG.F), as the German carmak... More »
International buyout groups and Chinese investment funds are expected to submit bids for Israeli irrigation firm Netafim, which could fetch around $1.5 billion, within the next few weeks, two banking sources said on Friday. More »
FILE PHOTO: Humanoid robots work side by side with employees in the assembly line at a factory of Glory Ltd., a manufacturer of automatic change dispensers, in Kazo, north of Tokyo, Japan, July 1, 2015. REUTERS/Issei Kato/File Photo Desperate to overcome Japan... More »
A Caterpillar corporate logo is pictured on a building in Peoria, Illinois, U.S. March 19, 2017. REUTERS/Carlo Allegri Caterpillar Inc (CAT.N) said on Friday it will shut its Aurora, Illinois, plant, costing about 800 employees their jobs as the world’s larges... More »
China’s regional governments are falling over each other to curry favor with President Xi Jinping, jostling for roles in his New Silk Road plan to boost economic and cultural links through Asia to Europe. More »
The corporate headquarters of Caterpillar Inc. the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines, based in Peoria, Illinois August 5, 2009. REUTERS/Jeff Haynes Federal law enforce... More »
A Caterpillar grader works at a development in Arvada, Colorado March 2, 2017. REUTERS/Rick Wilking After U.S. authorities raided Caterpillar Inc’s Peoria, Illinois, headquarters as part of a criminal investigation Thursday, the company stated the search was p... More »
Samuel Merksamer, who represents billionaire Carl Icahn on several corporate boards, has exited the activist investor’s firm and a source familiar with his plans said that he is exploring launching his own hedge fund. More »
President Donald Trump is interviewed by Reuters in the Oval Office at the White House in Washington, U.S., February 23, 2017. REUTERS/Jonathan Ernst U.S. President Donald Trump on Thursday spoke positively about a border adjustment tax being pushed by Republi... More »
People pack a glass bowl with marijuana during Hempfest’s 420Fest at the Luxe Nightclub in Seattle, Washington April 20, 2013. REUTERS/Nick Adams The administration of President Donald Trump may ramp up enforcement of federal laws against recreational marijuan... More »
People carry bags outside a shopping mall on the last day of Christmas shopping in Berlin December 23, 2014. REUTERS/Hannibal Hanschke The German economy quadrupled its growth rate to 0.4 percent in the fourth quarter of 2016 as higher state spending, rising p... More »
Employees work on a turbine at the General Electric plant in Belfort, France, February 22, 2017. REUTERS/Vincent Kessler President Donald Trump, who has vowed to stop U.S. manufacturing from disappearing overseas, will seek job-creation advice on Thursday from... More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles before speaking with Bill Gates (not pictured), at Columbia University in New York, U.S., January 27, 2017. REUTERS/Shannon Stapleton Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) was an aggress... More »
A CRRC worker walks past an unfinished metro train car in the company’s Kunming factory, Yunnan province, April 11, 2016. REUTERS/Brenda Goh Chinese trainmaker CRRC (601766.SS)(1766.HK) plans to build more factories abroad as part of its plan to double sales o... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
A trader works at his desk as the U.S. presidential town hall debate between Republican U.S. presidential nominee Donald Trump and Democratic nominee Hillary Clinton is shown on television at Citibank’s trading floor located in central Sydney, Australia, Octob... More »
China has launched a 350 billion yuan ($52.5 billion) restructuring fund as the government pushes ‘supply-side’ reforms that have included mergers of inefficient state enterprises and laying off workers in struggling sectors such as coal and steel. More »
People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. REUTERS/Meredith Davis Borrowings by U.S. companies for capital investment rose 12 percent in August compared with a year earlier, the Equipm... More »
LONDON Britain’s biggest carmaker Jaguar Land Rover said it will create a fleet of more than 100 research vehicles over the next four years to test autonomous and connected technology, with the first models to hit the streets later this year. Jaguar Land Rover... More »
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Monday revealed a new stake in Apple Inc (AAPL.O), in a bet that the stock price could rebound after iPhone sales fell for the first time. Berkshire held 9.81 million Apple shares worth about $1.07 billion as... More »
NEW YORK Hedge fund manager David Einhorn has built a reputation on his ability to crater a company’s stock. His prescient short calls such as Allied Capital and Lehman Brothers had been announced in previous years at the annual Sohn Investment Conference in N... More »
NEW YORK U.S. business conditions are the strongest since the summer of 2014 as sentiment has recovered from a weak start to the year, signaling companies’ willingness to make capital expenditures, Morgan Stanley economists said on Friday. More investment in e... More »
SEOUL North Korea is using Chinese-made trucks in a new mobile artillery system showcased five days ago, according to photographs reviewed by Reuters, underlining the difficulty in enforcing U.N. sanctions against the isolated state. North Korea’s Multiple Roc... More »
FRANKFURT Volkswagen AG’s (VOWG_p.DE) trucks business may pursue acquisitions or even a public listing, the company said on Monday, only days after the parent company was forced to delay publishing earnings in the wake of a diesel emissions scandal. “We’re kee... More »
MANITOWOC, Wis. The television documentary “Making a Murderer,” a gripping series about two Wisconsin men convicted of murder, has put this blue-collar city of 35,000 on the map, to the dismay of many residents. The wildly popular Netflix series, spread out ov... More »
BEIJING China and Russia are set to sign an agreement on developing a wide-bodied airliner before the end of the year, the China Daily reported on Monday, quoting the president of Russia’s state-controlled United Aircraft Corp, Yury Slyusar. United Aircraft an... More »
XUZHOU, China Two years after China unveiled a sweeping plan to rebuild Silk Road trade links with Europe and Asia, machinery maker XCMG Group has opened a factory in Uzbekistan, sent 300 staff abroad and set ambitious goals to grow overseas. XCMG’s foreign ve... More »
BEIJING China’s slowing economy has taken its toll on the first-half earnings of major construction machinery makers Zoomlion Heavy Industry Science and Technology Co Ltd (000157.SZ) and Sany Heavy Industry Co Ltd (600031.SS). Encouraged to expand after Beijin... More »
DETROIT Ford Motor Co (F.N) on Wednesday will start building its medium-duty F-650 and F-750 commercial trucks at a Cleveland-area plant, moving production out of Mexico for the first time. The shift to the 41-year-old plant in Avon Lake, Ohio means that about... More »
NEW YORK A group of mainly U.S.-based stock traders and computer hackers in Ukraine made as much as $100 million in illegal profits over five years by conspiring to use information stolen from thousands of corporate press statements before their public release... More »
NEW YORK A group of mainly U.S.-based stock traders and computer hackers in Ukraine made as much as $100 million in illegal profits over five years by conspiring to use information stolen from thousands of corporate press statements before their public release... More »
LONDON The Chinese slowdown is forcing many Western companies to take a hard look at their businesses there, leading many to reduce investments, costs and product lines and to tackle increasing bad debts. Double digit growth rates during the first decade of th... More »
SEATTLE The world’s largest-diameter tunneling machine could resume drilling under downtown Seattle in late November after repairs are completed, allowing a central part of a years-delayed highway project to go forward, Washington state officials said on Frida... More »
