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Fed’s Williams sees strong case for December interest-rate hike
By Ann Saphir BERKELEY, Calif. (Reuters) – There is a “strong case” for raising interest rates when Federal Reserve policymakers meet next month, as long as U.S. economic data does not disappoint, a top Fed official said on Saturday. “The data I think have been… View original post here: Fed’s Williams sees strong case for December interest-rate hike Read More →
VW cuts 2016 capital spending plan as cheating scandal widens
By Andreas Cremer and David Shepardson WOLFSBURG, Germany/WASHINGTON (Reuters) – Volkswagen AG cut 1 billion euros ($1.1 billion) from its 2016 investment plan on Friday, as its emissions cheating scandal expanded to include tens of thousands more U.S. vehicles. Volkswagen has told U.S. regulators that emissions issues in larger luxury cars and SUVs extend to… View original here: VW... [Read more]
Ford union workers ratify new four-year U.S. labor pact: UAW
Ford Motor Co's U.S. union workers narrowly approved a four-year labor contract after a late push for support by United Auto Workers leaders, the UAW said late Friday night. The UAW said 51.3 percent of production workers and 52.4 percent of skilled trades workers voted in favor of the new contract, after more than a week of voting that concluded at U.S. operations of Ford on Friday night. See... [Read more]
Investors "swipe right" in Tinder-owner Match’s debut
Match Group, which touts itself as the world's No. 1 dating company, is seen as the crown jewel of Diller's media properties and has driven parent IAC/InterActiveCorp's profit and revenue in recent quarters. One of Match Group's most popular Here is the original: Investors "swipe right" in Tinder-owner Match’s debut Read More →
Fairly upbeat U.S. data highlight economy’s resilience
By Lucia Mutikani WASHINGTON (Reuters) – New U.S. applications for unemployment benefits fell last week while a gauge of U.S. economic activity rebounded in October, signs of a healthy labor market and economy that could give the Federal Reserve confidence to raise interest rates next month. Outside manufacturing, the economy has remained resilient despite faltering global growth. “Business... [Read more]
Norfolk Southern hostile to Canadian Pacific’s $28.4 billion bid
While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, William Ackman's activist hedge fund Pershing Square Capital Management LP. Ackman, a big advocate of consolidation in the North American railway sector, recruited Hunter Harrison, who had previously been chief executive officer of Canadian... [Read more]
White House threatens veto of rule-based monetary policy bill
By Jason Lange WASHINGTON (Reuters) – The White House on Tuesday issued a veto threat for a Republican-backed bill to make the Federal Reserve set interest rate policy using a mathematical rule, a proposal Fed Chair Janet Yellen said would “severely damage” the U.S. economy. The Obama administration opposes the proposal because it would hinder the Fed's ability to help the economy,... [Read more]
Ford’s Lincoln brand debuts new face for its best-selling model
(Reuters) – Ford Motor Co's Lincoln brand is changing the look of its vehicles, starting with a new face for its best-selling model, the MKZ sedan. Ford plans to unveil the restyled 2017 Lincoln MKZ at the Los Angeles Auto Show on Wednesday, showing the first production version of a new Read more: Ford’s Lincoln brand debuts new face for its best-selling model Read More →
NYSE-owner ICE to buy commodities trading platform for $650 million
(Reuters) – Intercontinental Exchange Inc , the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for about $650 million in stock. Continued here: NYSE-owner ICE to buy commodities trading platform for $650 million Read More →
Detroit’s Big Three accelerate plans to build more small cars in Mexico
By Paul Lienert and Joseph White DETROIT (Reuters) – Detroit’s Big Three automakers are accelerating plans to produce more small cars for the North American market in Mexico as they seek to reduce labor costs, while using higher-paid U.S. workers to build their very profitable trucks, sport utility vehicles and luxury cars. New versions of several of their popular U.S. compact cars are expected... [Read more]