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BMW promotes Oliver Zipse to CEO

July 18, 2019 by  
Filed under News

German luxury carmaker BMW on Thursday named 55-year-old Oliver Zipse as its new chief executive, continuing a tradition of promoting a manufacturing expert to the top job.


Source: Reuters Business News

Trump's tariffs trip up the all-American RV industry

July 18, 2019 by  
Filed under News

Carrie Gray points to a stack of unwelcome mail on a conference table at the offices of Renegade RV, one of the leading U.S. manufacturers of high-end recreational vehicles. She’s buried in bad news from most of her about 350 suppliers.


Source: Reuters Business News

Southwest schedules without Boeing 737 MAX until Nov. 2, freezes pilot hiring

July 18, 2019 by  
Filed under News

Southwest Airlines Co joined U.S. rivals on Thursday in cancelling more flights until early November due to the continued grounding of Boeing Co’s 737 MAX, which has also prompted the low-cost carrier to freeze new pilot hiring.


Source: Reuters Business News

Union Pacific cost cuts sheltered profit amid freight slowdown

July 18, 2019 by  
Filed under News

Union Pacific Corp on Thursday reported a quarterly profit that beat Wall Street estimates, as the U.S. railroad operator cut costs and raised rates to overcome disruptions from record floods in the Midwest and ongoing U.S.-China trade tensions.


Source: Reuters Business News

Trade, earnings caution weigh on stocks; oil drops

July 18, 2019 by  
Filed under News

A gauge of global stocks lost ground for a third straight session on Thursday on worries over how the trade war between the United States and China could take a toll on corporate earnings, while oil prices dropped on expectations of rising output.


Source: Reuters Business News

U.S. lawmakers challenge Facebook over Libra cryptocurrency plan

July 17, 2019 by  
Filed under News

U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, after a bruising first bout a day earlier when senators from both parties condemned the project, saying the company had not shown it could be trusted.


Source: Reuters Business News

Paint makers reach $305 million settlement in California, ending marathon lead poisoning lawsuit

July 17, 2019 by  
Filed under News

After a 19-year legal struggle, three former makers of lead paint have agreed to a $305 million settlement with California county and city governments to mitigate poisoning dangers still present in old housing.


Source: Reuters Business News

Amazon under EU antitrust fire over use of merchant data

July 17, 2019 by  
Filed under News

Amazon’s use of merchants’ data triggered an EU antitrust investigation on Wednesday, as regulatory concerns mount around the world on how tech giants exploit customer information to reinforce their market power.


Source: Reuters Business News

Global stocks fall on trade, earnings worry; U.S. Treasury yields fall

July 17, 2019 by  
Filed under News

A gauge of global stocks declined for a second straight session and U.S. Treasury yields fell as trade concerns began to percolate and the pace of the U.S. corporate earnings season picked up.


Source: Reuters Business News

Boeing to make $50 million in payments to 737 MAX crash victim families

July 17, 2019 by  
Filed under News

Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with compensation expert Ken Feinberg hired by the world’s largest plane maker to oversee the distribution.


Source: Reuters Business News

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