GM sinks $150M into Michigan truck factory to boost output

General Motors says it will spend $150 million so it can make more heavy-duty pickup trucks at its Flint, Michigan, assembly plant.

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The money will improve the factory's conveyor system and for other equipment to boost output.

The factory builds heavy-duty Chevrolet Silverado and GMC Sierra pickups which are all-new for the 2019 model year.

No new jobs are tied to the Wednesday announcement, but GM announced earlier this year that it would add 1,000 workers at the plant. The factory now runs three shifts per day and employs about 5,000.

Sales of the Sierra were down 2.2 percent through March and the Silverado fellpoho nearly 16 percent as factories switch to the new models. GM expects increased sales and plans to increase factory capacity by 60,000 trucks per year.

Algeria's supreme court places former PM in custody over alleged corruption: state TV

ALGIERS (Reuters) – Algeria’s supreme court on Wednesday placed former Prime Minister Ahmed Ouyahia in custody over alleged corruption, state TV reported.

He became the most senior figure to be detained since mass protests broke out earlier this year demanding the removal of the ruling elite and the prosecution of people demonstrators see as corrupt.

Justice Department says Trump is asserting executive privilege over documents in fight over census question

Justice Department says Trump is asserting executive privilege over documents in fight over census question.

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Renault chief frustrated by French state over botched merger

A sign of French automaker Renault Group shows the way for the Renault shareholders general meeting in Paris, France, Wednesday, June 12, 2019. (AP Photo/Francois Mori)

Renault's chairman has expressed his frustration with the French government, a majority shareholder, which he says resisted a merger deal proposed by Fiat Chrysler.

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Jean-Dominique Senard told a shareholders' meeting in Paris on Wednesday that "I have rarely seen a merger proposal that could give so much positive synergy."

He said that at a board meeting to discuss the plan, everyone approved "with enthusiasm" except one. Board members from Renault's alliance member, Nissan, abstained but were positive.

He said the French government, which is Renault's biggest shareholder, had not shared his analysis of the benefits of the merger. Senard added: "I can frankly say that disappoints me."

Senard said that the merger proposal "remains in my head potentially remarkable and exceptional."

59-year-old man reported missing last seen in Barrie, possibly headed to Toronto: OPP

A 59-year-old man is missing and was reportedly last seen at the Barrie bus terminal Monday at about 2 p.m., possibly headed for Toronto, according to OPP.

Everald Locke is described to be six feet tall with a slim build, a beard and moustache, OPP add, wearing a blue jacket, a red and grey plaid shirt, and blue jeans.

According to police, there is concern for the 59-year-old’s well-being.

Anyone with information can contact the OPP at 1-888-310-1122.

Profits not Politics

This article was originally published on ETFTrends.com.

By Richard Bernstein, Richard Bernstein Advisors In 2001, I wrote a book called “Navigate the Noise – Investing in the New Age of Media and Hype”. The book’s thesis was that there were basic tenets of investing that were widely known, but rarely followed because investors were distracted by an ever-increasing amount of noise. Instead of […]

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Semiconductor ETFs Look to Regain Lost Form

This article was originally published on ETFTrends.com.

Semiconductor stocks and exchange traded funds started 2019 in fine form, but were hammered in May amid the intensifying US/China trade war. As China faces the prospect of losing access to American technology, such as semiconductors, the nation is stepping up its own chip game with more resources thrown to help develop the sector. While […]

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Bank ETFs Could Benefit From Higher Bank Dividends

This article was originally published on ETFTrends.com.

The results of the Federal Reserve’s Comprehensive Capital Analysis and Review, or CCAR, are soon to be released and that could mean higher dividends and increased share repurchases for a slew of domestic banks. Those themes could benefit exchange traded funds, such as the Invesco KBW Bank ETF (NASDAQ: KBWB), SPDR S&P Bank ETF (NYSEArca: […]

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Markets Right Now: US stocks veer lower at midday

The latest on developments in financial markets (all times local):

11:45 a.m.

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Stocks are veering lower in midday trading on Wall Street, led by drops in technology companies and banks.

Energy companies were also lower Wednesday as the price of crude oil continued to decline.

Investors shifted money into safer holdings after more than a week of aggressive buying.

Consumer staples and utilities were among the biggest gainers. Johnson & Johnson led health care stocks higher.

Benchmark U.S. crude sank 2% early to just under $52 a barrel.

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The S&P 500 index fell 10 points, or 0.3%, to 2,875.

The Dow Jones Industrial Average fell 81 points, or 0.3%, to 25,968. The Nasdaq fell 43 points, or 0.5%, to 7,779.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.18%.

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9:35 a.m.

Major U.S. indexes are mixed in early trading as gains for health care stocks are offset by weakness in energy companies.

Johnson & Johnson rose 1.5% early Wednesday.

The energy sector was broadly lower. Concho Resources gave up 2.1%

Benchmark U.S. crude sank 2% early Wednesday to just over $52 a barrel. It was trading at $59 a barrel two weeks ago. Traders think demand for oil may wane at the same time supplies are high.

Technology stocks also fell. Network equipment maker Cisco lost 1.1%

The S&P 500 index was little changed at 2,888.

The Dow Jones Industrial Average edged up 31 points, or 0.1%, to 26,075. The Nasdaq fell 4 points, or 0.1%, to 7,818.