Cadillac boss envisions $250,000 flagship car – in 2029
LOS ANGELES (Reuters) – Cadillac’s new boss believes General Motors’ premium brand could eventually sell ultra-luxury cars that retail for a quarter-million dollars by 2029.
Alfa Romeo expansion on track, Fiat Chrysler executive says
LOS ANGELES (Reuters) – The sporty Alfa Romeo brand’s growth into one of Fiat Chrysler Automobiles’ main global brands, along with an imminent U.S. relaunch, is on target, its North American chief said at the Los Angeles Auto Show on Wednesday.
Alibaba will sell debut bond on Thursday
NEW YORK (IFR) – Chinese e-commerce giant Alibaba will sell its first-ever bond on Thursday, a jumbo trade expected to be around $8 billion in size that comes just two months after the company’s record IPO.
Fed focused on sunny side, downplayed global woes in October
WASHINGTON (Reuters) – The U.S. Federal Reserve wrestled with whether to nod to financial market volatility and a weakening global economy in its policy statement last month, but opted not to out of worry it could send an unwarranted signal of pessimis…
Wall Street edges lower as Fed minutes offer few clues on rates
NEW YORK (Reuters) – U.S. stocks edged lower on Wednesday as minutes from the most recent Federal Reserve meeting gave investors few new clues as to when U.S. interest rates may rise.
Starbucks scoops up coffee beans from China for blends, Asia sales
NEW YORK (Reuters) – Starbucks Corp has this year bought coffee beans from China at its highest volume ever, shipping data show, reflecting the country’s burgeoning role as bean supplier amid supply concerns among traditional exporters.
U.S. housing regulator to unveil mortgage fees framework in 2015
WASHINGTON (Reuters) – The top U.S. housing finance regulator said on Wednesday his agency would unveil a new framework in early 2015 for how government-controlled Fannie Mae and Freddie Mac will set mortgage guarantee fees.
Qualcomm CEO more cautious on future revenue growth
SAN FRANCISCO (Reuters) – Mobile chipmaker Qualcomm Inc on Wednesday gave a more conservative five-year outlook than in the past as it faces an antitrust probe in China and consumers there and in other developing countries buy lower-priced smartphones….
Staples profit beats as demand rises from North America businesses
(Reuters) – Staples Inc reported higher-than-expected quarterly sales and profit as business customers in North America bought more furniture, breakroom products such as coffee machines and core office supplies like stationery.
Hedge fund manager Chanos says art market frothy, shorting Sotheby’s
LONDON (Reuters) – Hedge fund Kynikos Associates founder James Chanos said the art market is frothy and he is currently shorting Sotheby’s , a global auctioneer of art and jewelery.
