Global stocks fall in light volume ahead of Fed statement
NEW YORK (Reuters) – Stocks in major markets fell on Tuesday, with Wall Street posting subpar volume for a second straight session, after the Bank of Japan painted a bleaker picture of the world’s third-largest economy and U.S. retail sales data lowere…
Fed seen holding U.S. rates for now, leaving door open for June hike
SAN FRANCISCO (Reuters) – U.S. Federal Reserve policymakers are seen leaving short-term interest rates unchanged at a two-day policy meeting that began Tuesday, but also to signal that a rate hike is not too far off as long as the job market and inflat…
Oil ends down 2 percent on technicals, U.S. stockpile worry
NEW YORK (Reuters) – Oil settled 2 percent lower on Tuesday as the market yielded to technical pressure and worries that U.S. crude stockpiles were still growing amid falling output and refinery maintenance.
U.S. appeals court weighs extent of GM’s bankruptcy protection
NEW YORK (Reuters) – Attorneys for customers suing General Motors Co over faulty ignition switches urged a U.S. appeals court on Tuesday to throw out bankruptcy court rulings that they say shield the company from lawsuits potentially worth billions of …
Teamsters recommends rejection of Costco contract
(Reuters) – Teamsters unions representing 16,000 workers of Costco Wholesale Corp on Tuesday recommended its members reject a contract offer from the retailer due to a long-running disagreement over its pension plan.
UPS expands alternative fuels momentum with $100 million CNG investment
(Reuters) – United Parcel Service Inc on Tuesday announced a $100 million plan to buy hundreds of new trucks that will run on compressed natural gas, saying it did not want to lose momentum on alternative fuels even though diesel prices have tanked.
New boss of Russian carmaker Avtovaz enters a lion’s den
MOSCOW (Reuters) – Nicolas Maure, brought in to turn around Renault-Nissan’s Russian carmaker Avtovaz, is entering a lion’s den where his predecessor fell foul of diving sales and powerful vested interests among shareholders, suppliers and workers.
Teamsters, Lyft drivers will object to settlement over expenses
(Reuters) – Five Lyft drivers and the Teamsters union will object to a proposed class action settlement, saying it would shortchange drivers by keeping them as independent contractors instead of employees, a union spokesman said on Tuesday.
Fiat Chrysler gains access to cash of its U.S. subsidiary
DETROIT (Reuters) – Fiat Chrysler Automobiles announced on Tuesday that it has eliminated covenants linked to term loans of its U.S. unit, FCA US LLC, thus gaining full access to the subsidiary’s cash.
China’s Zoomlion sweetens offer for U.S. crane maker Terex: sources
(Reuters) – China’s Zoomlion Heavy Industry Science & Technology Co Ltd has raised its bid for U.S. crane maker Terex Corp , according to people familiar with the matter, as it challenges Terex’s merger with Finland’s Konecranes .
