Strong U.S. dollar pressures jobs at exporters
WASHINGTON (Reuters) – The sharp rise in the U.S. dollar’s value is hitting American exporters and forcing layoffs at makers of everything from steel to machinery, taking the shine off stronger job creation across the broader economy.
McDonald’s April global restaurant sales dip less than expected
(Reuters) – McDonald’s Corp reported a smaller-than-expected fall in worldwide sales at its established restaurants in April, thanks to a stronger performance in Europe, sending shares of the company higher in morning trading.
GM expects to fall short of 2017 electric vehicles target
DETROIT (Reuters) – General Motors Co said it will fall short of its goal of having 500,000 GM vehicles on U.S. roads by 2017 that are powered by some form of electricity.
Alibaba has a new CEO, but it’s still Jack’s house
SHANGHAI (Reuters) – When Alibaba Group Holding Ltd’s eccentric founder Jack Ma stepped down as CEO two years ago, he declared “the Internet belongs to young people,” and promised that most of the company’s leaders born in the 1960s would soon retreat …
Bonds and stocks rebound, sterling soars after UK election
LONDON (Reuters) – World bond and stock markets rose on Friday after a bruising week and sterling jumped to a two-month high after the business-friendly Conservative party won Britain’s national elections.
Toyota flags third year of record profit on strong U.S. sales, cost cuts
TOKYO (Reuters) – Toyota Motor Corp said it will crank net profit up to a third straight record this year as cost cuts and rising U.S. sales offset weaker business elsewhere, building on bumper earnings last year powered largely by foreign-exchange gai…
Troubled air bag maker Takata says to return to profit in 2015/16
TOKYO (Reuters) – Japan’s Takata Corp said it expects to return to profit this financial year on higher Asian and U.S. sales, but the troubled company made few provisions for possible costs related to a massive global recall of its exploding air bags.
VW’s Audi sales up 2.5 percent in April to 152,850 cars
FRANKFURT (Reuters) – Volkswagen’s Audi luxury division said on Friday sales increased 2.5 percent in April to 152,850 cars and sport-utility vehicles, the highest-ever level recorded for any month in the carmaker’s history.
Hutchison to sell one-third stake in UK mobile unit for $4.3 billion
HONG KONG (Reuters) – Hutchison Whampoa Ltd said it plans to sell a one-third stake in its British mobile phone business for $4.3 billion to five investors – a move that will help the Hong Kong ports-to-telecoms group fund its boldest bet in Europe yet…
Boone Pickens sees oil rising, bets on Bush for White House
LAS VEGAS (Reuters) – Billionaire investor T. Boone Pickens, who cemented his fortune with bets on oil companies, said the price of oil would likely hit $75 dollars a barrel by yearend as demand revives.
