GM targets double-digit earnings growth in 2016
MILFORD, Mich. (Reuters) – General Motors Co told Wall Street on Thursday that its recovery is gathering momentum with improving margins, strong brands, new markets for high-tech vehicles, and prospects for stronger profits in coming years.
Machinery makers smell opportunity as China’s farms think big
BEIJING (Reuters) – The world’s largest makers of tractors and combines are finding a rare opportunity for growth in China despite a sharp slowdown in the world’s No. 2 economy, with big farm machines in demand as the rural labor force shrinks and plot sizes grow. For manufacturers like U.S.-based AGCO and Deere & Co and Italy’s CNH Industrial , Chinese demand for big machines could help to offset weakness in North America and Europe, where farm inco
Fed’s Williams repeats call for rate hike ‘sometime’ in 2015
SALT LAKE CITY (Reuters) – San Francisco Federal Reserve Bank President John Williams on Thursday renewed his call for an interest-rate hike “sometime later this year,” citing near-full employment and rapidly rising house prices that may be a sign of e…
Short sellers cash in Apple bets as stock declines
SAN FRANCISCO (Reuters) – Many short sellers appear to have unwound their bets against Apple this week, and a 6 percent fall in the stock price suggests they made money as investor worries about the company countered a record launch of its newest iPhon…
U.S. fines Exxon $2.63 million for Arkansas oil pipeline leak
WASHINGTON (Reuters) – The U.S. pipeline safety office wrote Exxon Mobil Corp on Thursday saying it has fined the company $2.63 million for spilling crude oil in an Arkansas residential area in 2013.
Exclusive – Mondelez seeks European cheese and grocery asset sale: sources
LONDON/NEW YORK (Reuters) – Mondelez International Inc is exploring a sale of its European cheese and grocery business, which could be valued at around $3 billion, according to people familiar with the matter, as it sharpens its focus on snack foods an…
Fitbit attracts new attention from short-sellers
SAN FRANCISCO (Reuters) – Wearable gadget maker Fitbit Inc attracted far more bets against its recently rising stock in September, underscoring concerns about competition from the likes of Apple Inc .
Trading legend Dauphin leaves void at Trafigura
LONDON (Reuters) – When Claude Dauphin, the billionaire founder of Trafigura, was diagnosed with cancer two years ago, few doubted he would entirely abandon the fierce work ethic or grueling travel that helped him to build one of the world’s biggest co…
NYSE says ready for possibility of Hurricane Joaquin hitting NYC
NEW YORK (Reuters) – NYSE Group, which is owned by Intercontinental Exchange Inc , said on Thursday it anticipates U.S. exchanges will be open for normal trading sessions on Monday if Hurricane Joaquin makes landfall on the U.S. East Coast.
Atlanta Fed slashes third quarter view on U.S. economic growth
NEW YORK (Reuters) – The U.S. economy is on track to grow 0.9 percent in the third quarter after a bigger-than-expected widening of the trade gap for goods in August, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
