BMW’s $1 billion plant surfs Mexican investment wave
MEXICO CITY (Reuters) – Luxury car maker BMW revealed a $1 billion Mexican plant investment on Thursday, becoming the latest major automaker to take advantage of the country’s growing industrial base and tariff-free access to the U.S. market.
Volkswagen denies planning a bid for U.S. Paccar
FRANKFURT/BERLIN (Reuters) – Volkswagen denied planning a bid for U.S. truck maker Paccar after analysts published comments in a research note from a senior executive of German rival Daimler saying he had heard of such a plan.
Dow pops above 17,000, S&P 500 at record as jobs jump
NEW YORK (Reuters) – Wall Street’s holiday-shortened session ended with multiple records on Thursday, with the Dow topping 17,000 for the first time after the June jobs report came in much stronger than expected.
Former Peugeot chairman quits board over public dissent
PARIS (Reuters) – PSA Peugeot Citroen’s deputy chairman Thierry Peugeot was forced out on Thursday after voicing renewed public dissent over a French-backed tie-up with Dongfeng that he had unsuccessfully opposed as chairman.
GM switch complaints began 17 years ago, long before Cobalt
DETROIT (Reuters) – General Motors car owners have been complaining to dealers about defective ignition switches since 1997, years before the automaker launched the Chevrolet Cobalt and other small cars with faulty switches linked to at least 13 deaths…
Merkel urges big push on EU-U.S. free trade deal
BERLIN (Reuters) – Germany’s Angela Merkel made a strong plea on Thursday for the European Union and the United States to complete their talks about forming a new transatlantic free trade area.
VW brand half year sales over 3 million cars
POTSDAM Germany (Reuters) – Volkswagen sold more than three million cars of its VW brand in the first half of 2014, Chief Executive Martin Winterkorn said on Thursday.
ECB says measures will push inflation up, but money-printing still possible
FRANKFURT (Reuters) – A raft of policy measures introduced last month will help lift inflation and support bank lending but the European Central Bank stands ready to create money in future if required, President Mario Draghi said on Thursday.
Amex set to face U.S. in antitrust trial over credit card fees
NEW YORK (Reuters) – American Express Co is set to face off against the U.S. government and 17 states in a trial that begins on Monday over claims that it stifles competition from credit card providers that charge lower processing fees.
Double-digit profit growth may return in second quarter
NEW YORK (Reuters) – With all the hoopla over the Dow topping 17,000 out of the way, the market’s next focus will be whether the fast-approaching earnings season can justify U.S. stocks continuing their climb further into record territory.
