Pharma, bank stocks pull Wall Street lower
NEW YORK (Reuters) – U.S. stock prices closed lower on Tuesday as weakness in drug and financial shares sent the S&P 500 and the Dow Jones Industrial Average to their first consecutive sessions of declines in more than a month.
Mini boss says UK production not essential to brand
GENEVA (Reuters) – Building in Britain is not essential to BMW’s Mini brand as most customers do not know where the compact cars are built and its new electric model could be made elsewhere, the brand’s boss told Reuters on Tuesday.
UPS wins court challenge against EU block to TNT bid
BRUSSELS (Reuters) – An EU court agreed with United Parcel Service on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world’s largest package delivery company to sue regulators for damag…
Wahaha boss sees U.S. suffering more in any trade war with China
BEIJING (Reuters) – The chairman of China’s biggest beverage maker, Hangzhou Wahaha Group, said the United States would suffer more in any trade war with China, with a loss of access to cheap Chinese-made goods hitting American wallets.
Autos bosses focus on technology rather than PSA-Opel
GENEVA (Reuters) – The auto industry is facing seismic changes with the rise of electric vehicles, automated driving and car sharing set to eclipse even big mergers such as PSA’s purchase of Opel, executives at the Geneva auto show said.
Germany delays contract with MBDA for missile defense system: sources
BERLIN (Reuters) – Germany’s defense ministry on Tuesday told lawmakers that it would not complete a contract for a multi-billion euro new missile defense system with European arms maker MBDA during the current legislative period, as planned, ministry …
Tariff-free Brexit ‘really important’ for Ford’s UK jobs
GENEVA (Reuters) – Tariff-free trade after Brexit is vitally important to maintaining jobs at Ford’s British sites, its European boss told Reuters on Tuesday, amid growing concerns among unions about jobs losses at the U.S. carmaker’s Welsh engine pla…
VW expects to sanction more employees in emissions scandal: chairman
GENEVA (Reuters) – Volkswagen AG expects to broaden disciplinary action beyond the two dozen employees the carmaker has already suspended in a diesel emissions cheating scandal, Chairman Hans Dieter Poetsch said on Monday.
VW CEO sees no immediate trouble from PSA-Opel deal
GENEVA (Reuters) – PSA Group’s purchase of General Motors’ Opel division will cause no immediate problems for Volkswagen’s core autos division, which is undergoing major restructuring, VW Chief Executive Matthias Mueller said.
Banks, earnings, German data keep European stocks in the red
LONDON (Reuters) – European stocks fell for a third consecutive day on Tuesday, once again dragged down by financials as shares in Deutsche Bank slid on deepening concern about its health after its $8.5 billion cash call.
