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GM to slash jobs and production as U.S. sedan sales sink

November 26, 2018 by  
Filed under News

General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.


Source: Reuters Business News

StanChart planning to simplify structure to curb costs: Bloomberg

November 26, 2018 by  
Filed under News

Standard Chartered Plc is considering simplifying its structure as it looks to curb costs across its networks from Zambia to Macau, Bloomberg reported https://bloom.bg/2P3jiBW on Monday, citing sources.


Source: Reuters Business News

GM CEO to meet with White House adviser after job cuts announcement: sources

November 26, 2018 by  
Filed under News

General Motors Co chief executive Mary Barra is set to meet with White House economic adviser Larry Kudlow on Monday, hours after the company announced plans to shutter five North American plants and slash thousands of jobs, two people briefed on the matter said.


Source: Reuters Business News

Factbox: GM North America plant shutdowns could hit nearly 6,000 workers

November 26, 2018 by  
Filed under News

General Motors Co’s plan to close three North American assembly plants and two transmission plants next year could affect nearly 6,000 workers, according to data on GM’s media website.


Source: Reuters Business News

Oil breaks above $60/bbl, but doubts about growth curb gains

November 26, 2018 by  
Filed under News

Oil prices rose about 3 percent on Monday, clawing back some of the previous session’s steep losses, although gains where capped by uncertainty over global economic growth and further signs of increasing supply, including record Saudi production.


Source: Reuters Business News

Breakthrough or breakdown: G20 sets trade war turning point

November 25, 2018 by  
Filed under News

The United States and China have in the coming week what may be their last chance to broker a ceasefire in an increasingly dangerous trade war when their presidents meet in Buenos Aires.


Source: Reuters Business News

How much for that app? U.S. top court hears Apple antitrust dispute

November 25, 2018 by  
Filed under News

When iPhone users want to edit blemishes out of their selfies, identify stars and constellations or simply join the latest video game craze, they turn to Apple Inc’s App Store, where any software application they buy also includes a 30 percent cut for Apple.


Source: Reuters Business News

Renault-Nissan leaders to meet amid tensions over Ghosn ouster

November 25, 2018 by  
Filed under News

Renault-Nissan executives will attempt this coming week to shield their joint operations from a looming power struggle between the carmakers, following alliance boss Carlos Ghosn’s shock arrest over misconduct allegations.


Source: Reuters Business News

Malaysia says former PM Najib's office ordered changes to 1MDB audit report

November 25, 2018 by  
Filed under News

The office of former Malaysian premier Najib Razak ordered changes to a 2016 audit report of scandal-plagued state fund 1MDB, including removing mention of financier Low Taek Jho’s presence at a board meeting, authorities said.


Source: Reuters Business News

Aston Martin to more than double production by 2025: CEO

November 25, 2018 by  
Filed under News

Luxury carmaker Aston Martin , has not yet seen a slowdown in its key markets and aims to more than double the number of cars it makes by 2025, its chief executive said on Sunday.


Source: Reuters Business News

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