Mexico president seeks investigation of losses at Pemex plants
Mexico’s president said on Tuesday his government would push for an investigation into the hundreds of millions of dollars squandered by state oil company Pemex after its purchase of two struggling fertilizer plants during the previous administration.
FCA to invest $4.5 billion in Michigan to expand new Jeep SUV models
Fiat Chrysler Automobiles NV said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps to compete more effectively in the lucrative market for full-size three-row SUVs currently dominated by rivals General Motors Co and Fo…
Tech stocks help S&P inch higher, Home Depot weighs on Dow
The S&P 500 eked out gains on Tuesday, boosted by technology sector, but losses in consumer discretionary shares including Home Depot and Discovery kept the Dow Industrials and the Nasdaq in check.
Fed’s Powell sees solid but slower U.S. economic growth in 2019
The U.S. economy will grow at a solid though slower pace in 2019 and the Federal Reserve will remain “patient” in deciding whether to further raise interest rates, Fed Chairman Jerome Powell said on Tuesday.
Tesla’s Musk must address SEC contempt bid as he calls agency ‘broken’
A federal judge on Tuesday ordered Tesla Inc Chief Executive Elon Musk to explain by March 11 why he should not be held in contempt for violating his fraud settlement with the U.S. Securities and Exchange Commission.
Dutch shell firms used to pay millions in Brazilian bribes: prosecutors
Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute $100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA.
Ferrero re-starts production at biggest Nutella plant
Italian confectioner Ferrero on Monday restarted production at the biggest production plant of its Nutella spread, which was halted last week over a suspected quality issue, the company said in a statement posted on its website.
Walmart hopes to boost ad business by letting P&G, Unilever advertise in stores, online
Walmart Inc will allow consumer companies like Procter & Gamble, Unilever and Mondelez International Inc to advertise to shoppers in its stores and online in a renewed push to grow its advertising business and drive profits.
Macy’s new restructuring to cut 100 senior jobs, save $100 million annually
Macy’s Inc, the largest U.S. department store chain, said on Tuesday it would cut 100 senior management positions to reduce costs and improve profitability, and reported holiday same-store sales growth short of Wall Street’s expectations.
StanChart gets approval to open unit in Saudi Arabia
Saudi Arabia’s cabinet approved a license for Standard Chartered to open a unit in the kingdom, the state news agency reported on Tuesday.
