Wall St. dips on trade tensions, hopes of rate cut limit losses
Wall Street’s main indexes dipped on Wednesday as worries of a protracted U.S.-China trade war were heightened by Washington’s tough stance, but losses were limited by a tame inflation report that supported the case for an interest rate cut.
Ford recalls 1.2 million Explorer SUVs for suspension issue
Ford Motor Co said Wednesday it is recalling 1.2 million Explorer sport utility vehicles in the United States for a potential suspension defect that could lead to a reduction in steering control.
Ford to spend $180 million to fix suspension issue in Explorer vehicles
Ford Motor Co said on Wednesday its North American unit will spend $180 million to correct a suspension issue in Explorer vehicles.
Reckitt picks PepsiCo executive as CEO, going outside for first time
Consumer goods group Reckitt Benckiser has picked PepsiCo executive Laxman Narasimhan as its next chief executive, becoming the latest industry heavyweight to turn to a company outsider to tackle faltering growth and new media-savvy rivals.
Exclusive: Ethiopia plans to issue telco licenses by year-end
Ethiopia is aiming to award telco licenses to multinational mobile companies by the end of the year, ending a state monopoly and opening up one of the world’s last major closed telecoms markets, three people with direct knowledge of the process said.
Shares snap seven-day hot streak; U.S. inflation feeds Fed bets
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while a barely visible rise in U.S. inflation kept up talk of an early cut in interest rates there.
U.S. consumer prices barely rise; underlying inflation muted
U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year.
Exclusive: Renault chairman weakened as Macron snubs meeting
French President Emmanuel Macron has turned down a request to meet Renault chairman Jean-Dominique Senard, who is furious over the government’s interference at the carmaker, sources told Reuters, raising questions over Senard’s future.
Ford Motor opens research center in Tel Aviv
Ford Motor Co on Wednesday opened a research center in Tel Aviv, joining a growing number of major automakers and suppliers setting up shop in the Israeli tech hub as they race to develop self-driving cars.
No meat please! Nestle may extend plant-based burger partnerships
(This June 11 story has been corrected to delete erroneous reference to talks with McDonald’s in fifth paragraph, amend headline.)
