Just three months ago, investors were in a panic over the idea that the Federal Reserve might push borrowing costs too high and tip the United States economy into a recession. Now, Wall Street is toying with the idea that the central bank could actually be cutting interest rates by the end of the year. […]
MUNICH (Reuters) – BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 bln) cost savings and efficiency plan to help offset higher technology investment and currency costs. Last week BMW said it would step up cost cutting in […]
EDDY COUNTY, NEW MEXICO (Reuters) – In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles. Workers at its Remuda lease near Carlsbad – part of a staff of 5,000 spread across New Mexico and […]
The public spending watchdog has questioned the effectiveness of regulators which have a statutory duty to protect consumers’ interests. The National Audit Office (NAO) said its examination of the four major regulators – those covering the water, energy, telecommunications and financial services sectors – showed they understood “significant difficulties” facing customers but could not show […]
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet. The U.S. central bank since early this year has signaled […]
SAO PAULO (Reuters) – General Motors Co said on Tuesday it would invest 10 billion reais ($2.65 billion) in two of its Brazilian plants in Sao Paulo state over the next five years, reversing what the state’s governor said was a previous plan to shut down the plants, potentially costing 65,000 jobs. Under the new […]
(Reuters) – Wall Street’s main indexes climbed on Tuesday, as investors hoped for a more accommodative policy stance at the end of the Federal Reserve’s two-day meeting this week. A flurry of downbeat economic data this month has supported market expectations that the Fed may reinforce a halt to further interest rates hikes. The meeting […]
WASHINGTON (Reuters) – New orders for U.S.-made goods rose less than expected in January and shipments fell for a fourth straight month, offering more evidence of a slowdown in manufacturing activity. Factory goods orders edged up 0.1 percent, the Commerce Department said on Tuesday, held back by decreases in orders for computers and electronic products, […]
NAIROBI (Reuters) – Financiers, passengers and industry partners are, for now, still backing Ethiopian Airlines’ quest to become Africa’s dominant carrier, despite a March 10 crash that killed 157 people. The causes of the Flight 302 tragedy will likely take months to establish. While much of the international focus has been on U.S. planemaker Boeing […]
(Reuters) – U.S. stock futures rose slightly on Tuesday as investors anticipated a more accommodative policy stance from the U.S. Federal Reserve in a two-day policy meeting this week. A flurry of downbeat economic data this month has supported market expectations that the Fed may reinforce a halt to further rises in interest rates. The […]