U.S. factory activity contracts in August; layoffs remain low
WASHINGTON (Reuters) – U.S. factory activity contracted in August for the first time in six months as new orders and production tumbled, but a low level of layoffs continued to point to a pickup in economic growth in the third quarter.
Germany goes to EU with accusation of Fiat emissions cheating
BERLIN (Reuters) – Germany’s Transport Ministry has asked the European Commission to investigate exhaust emissions of Fiat Chrysler vehicles for potential illegal manipulation devices, German government documents showed on Thursday.
Fed’s Mester says case for rate increases is compelling
LEXINGTON, Ky. (Reuters) – The U.S. labor market is at full strength and the Federal Reserve needs to be on a path of gradual interest rate increases, Cleveland Fed President Loretta Mester said on Thursday.
Wal-Mart to cut 7,000 U.S. store back-office jobs
(Reuters) – Wal-Mart Stores Inc said on Thursday it will cut about 7,000 back-office jobs, mostly in accounting and invoicing positions at its U.S. stores, continuing a program it announced in June of cutting such jobs on the West Coast.
IMF’s Lagarde says likely to cut growth outlook as trade wanes
WASHINGTON (Reuters) – International Monetary Fund Managing Director Christine Lagarde said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and g…
Exclusive: U.S. set to approve sales of Boeing fighters to Qatar, Kuwait, sources say
DOHA/BERLIN (Reuters) – The United States is poised to sell $7 billion worth of Boeing Co fighter jets to Qatar and Kuwait after years of delays, and it may start notifying U.S. lawmakers as early as next week, four U.S.- and Gulf-based sources familia…
EU ruling on Apple’s Irish tax is ‘total political crap’: CEO
DUBLIN/BRUSSELS (Reuters) – Apple’s Chief Executive Tim Cook described an EU ruling that it must pay a huge tax bill to Ireland as “total political crap”, but France joined Germany on Thursday in backing Brussels as transatlantic tensions grow.
Shell becomes first oil company to join Mexico’s hedging program: Bloomberg
NEW YORK (Reuters) – Royal Dutch Shell Plc participated in Mexico’s oil hedging program for 2017, the first time an oil company has taken part in the world’s large commodities hedging program, according to Bloomberg, citing four people with knowledge o…
IMF’s Lagarde says likely to cut growth outlook as trade wanes
WASHINGTON (Reuters) – International Monetary Fund Managing Director Christine Lagarde said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and g…
Manufacturing falters as global demand weakens
LONDON/SINGAPORE (Reuters) – Manufacturers across Asia and Europe showed few signs of returning to health in August, as demand remained fitful at best, although British factories bucked the global trend, surveys showed on Thursday.
