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Oil rises, gasoline jumps 10 percent as U.S. refineries reel

August 31, 2017 by  
Filed under News

NEW YORK (Reuters) – Gasoline futures surged 10 percent on Thursday as almost a quarter of U.S. refining capacity remained offline and traders scrambled to reroute millions of barrels of fuel, while oil prices rose nearly 3 percent.


Source: Reuters Business News

GE's new CEO preparing job cuts in bid to reduce costs: source

August 31, 2017 by  
Filed under News

NEW YORK (Reuters) – General Electric Co is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits under its new chief executive, and the company already has halted hiring in certain technology positions, a person familiar with the situation told Reuters.


Source: Reuters Business News

Yahoo must face litigation by data breach victims: U.S. judge

August 31, 2017 by  
Filed under News

(Reuters) – A U.S. judge said Yahoo must face nationwide litigation brought on behalf of well over 1 billion users who said their personal information was compromised in three massive data breaches.


Source: Reuters Business News

Volkswagen U.S. plant building 400 Atlas SUVs a day: executive

August 31, 2017 by  
Filed under News

(Reuters) – German automaker Volkswagen’s U.S. plant in Chattanooga, Tennessee, is building 400 Atlas SUVs a day, close to capacity and on pace to reach 100,000 per year, Matthias Erb, who heads VW’s North American engineering team, said on Thursday.


Source: Reuters Business News

Car makers, retailers rush to open, restock Houston after Harvey

August 31, 2017 by  
Filed under News

DETROIT (Reuters) – Houston area car retailers and automakers are rushing to reopen dealerships and beef up inventory to replace many thousands of vehicles damaged in flooding from Hurricane Harvey.


Source: Reuters Business News

U.S. second-quarter GDP growth revised up, fastest in over two years

August 30, 2017 by  
Filed under News

WASHINGTON (Reuters) – The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.


Source: Reuters Business News

Alexa allies with Cortana to take on Google Assistant, Siri

August 30, 2017 by  
Filed under News

(Reuters) – Amazon.com Inc and Microsoft Corp have joined forces to let their voice-controlled virtual assistants talk to each other, offering users the ability to seamlessly tap into work, their homes and shop online.


Source: Reuters Business News

After the flood, Fed likely to see little change in economy, policy course

August 30, 2017 by  
Filed under News

WASHINGTON (Reuters) – The economic fallout from Hurricane Harvey will make the Federal Reserve’s job more difficult when it meets in three weeks, but U.S. central bankers have looked past major storms before with little change in monetary policy and are likely to do the same this time.


Source: Reuters Business News

NYSE seeks to delay after-market company announcements

August 30, 2017 by  
Filed under News

(Reuters) – The New York Stock Exchange filed a proposal on Tuesday to delay the release of important company news immediately after official closing time to reduce investor confusion and market disruption.


Source: Reuters Business News

Ford looks at self-driving systems for commercial trucks: executive

August 30, 2017 by  
Filed under News

DETROIT (Reuters) – Ford Motor Co is considering deploying self-driving vehicle technology in larger commercial vehicles and is working with multiple partners to put its autonomous vehicles on the road, a senior Ford executive told Reuters on Tuesday.


Source: Reuters Business News

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