VW ramps up China electric car factories, taking aim at Tesla
Volkswagen AG is ramping up production of electric cars to around 1 million vehicles by end of 2022, according to manufacturing plans seen by Reuters, enabling the German carmaker to leapfrog Tesla Inc and making China the key battleground.
Alphabet third-quarter profit misses estimates
Google parent Alphabet Inc missed analysts’ estimates for quarterly profit on Monday as it reported its highest-ever quarterly expenses, sending shares down about 1.7% even though revenue growth topped expectations.
T-Mobile beats quarterly phone subscriber estimates
T-Mobile US Inc on Monday beat analysts’ third-quarter estimates for net new phone subscribers who pay a monthly bill, boosted by competitive wireless plans aimed at fending off its bigger rivals.
Microsoft says Russia-linked hackers target sports organizations
Microsoft Corp said it has tracked “significant” cyberattacks coming from a group it calls “Strontium” or “Fancy Bear”, targeting anti-doping authorities and global sporting organizations.
Trade optimism, Fed rate-cut expectation sends S&P 500 to record
The S&P 500 hit a record high on Monday, while the Nasdaq fell just short of its lifetime high touched in late July as a more civil tone between the United States and China lifted hopes for a possible trade deal and investors looked toward a Federal Reserve rate cut later this week.
U.S.-China trade hopes boost stocks; dollar weak
An index of global stock markets rallied to a 21-month high on Monday, boosted by growing hopes for a U.S.-China trade deal and the view that the U.S. Federal Reserve this week will deliver its third interest rate cut for 2019.
Oil falls on weak Chinese data, forecasts for U.S. crude stocks build
Oil prices fell on Monday after four days of gains as expectations U.S. crude stockpiles will rise and worries about weak Chinese industrial data offset hopes oil demand will increase if talks progress on a Sino-American trade deal.
Trump administration eases risks for banks on false lending claims
The Trump administration said on Monday it would try to entice banks to offer more mortgages to low-income borrowers by reducing reliance on a Civil War-era law the Obama administration used in the wake of the subprime mortgage crisis to build bad-lend…
Amazon could challenge loss of $10 billion Pentagon cloud deal as early as next week
If Amazon.com decides to fight the Pentagon’s decision to award a highly contested $10 billion cloud computing contract to Microsoft, it could act as early as next week.
Ford to cut 450 jobs at Canada plant on Flex, Lincoln MKT production halt
Ford Motor Co will cut about 450 jobs at its Oakville assembly plant in Ontario, as the No. 2 U.S. carmaker discontinues production of the Ford Flex and Lincoln MKT, Canada’s largest private-sector union Unifor said https://reut.rs/2pmAPhJ on Monday.
