DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. “GM had a very good 2017 as we continued to transform our
SINGAPORE (Reuters) – Two Airbnb hosts charged in Singapore with unauthorized short-term letting of four apartments are expected to plead guilty next month, their lawyer said on Tuesday. The two men face four charges under the city-state’s Planning Act for renting out four units in a condominium for less than six months without permission from
DETROIT (Reuters) – Fiat Chrysler Automobiles NV’s (FCA) (FCHA.MI) (FCAU.N) has no intention of breaking up the company or selling individual brands to China or other parties, the company’s chief executive said on Monday, adding that the group was counting on its coveted Jeep brand to drive future profits. “We’re not going to break up
DETROIT (Reuters) – German automakers expect to continue to grow market share in the United States this year thanks to a raft of new models, even as demand in the world’s second largest car market is seen falling again slightly, Germany’s VDA industry lobby said. Manufacturers including Volkswagen (VOWG_p.DE), Daimler (DAIGn.DE) and BMW (BMWG.DE) raised
SINGAPORE (Reuters) – Oil prices held just below December 2014 highs on Monday, supported by ongoing output cuts led by OPEC and Russia despite a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Brent crude futures LCOc1, the international benchmark for oil prices, were at $69.85 per
DETROIT (Reuters) – Volkswagen’s (VOWG_p.DE) core autos division increased vehicle sales to a new record last year, as rising demand for VW brand models in the Americas and the key Chinese market offset a decline in western Europe. Although the emissions test-cheating scandal of September 2015 has cost the German group billions of euros in
FRANKFURT (Reuters) – Airbus (AIR.PA) is in talks with German prosecutors to end an investigation into the sale of Eurofighter jets to Austria in exchange for a settlement of between 70 million and 80 million euros ($85 million to $98 million), a German newspaper reported. Sueddeutsche Zeitung, citing unnamed sources close to Airbus, said the
BEIJING (Reuters) – China will step up oversight in the banking sector this year to reduce financial risks, the country’s banking regulator said, stressing that long-term efforts would be needed to control banking sector chaos. The China Banking Regulatory Commission (CBRC) said late on Saturday in a statement that its priorities included increasing supervision over
JOHANNESBURG (Reuters) – Protesters angered by a “racist” H&M advertisement ransacked several of the Swedish fashion group’s South African stores on Saturday. The Economic Freedom Fighters (EFF) protesters targeted six H&M stores in the Gauteng province, where South Africa’s economic hub of Johannesburg is located, tearing down shop displays and throwing clothes around, police said.
PARIS (Reuters) – Air France (AIRF.PA) on Saturday denied that it had made an offer to buy the struggling airline Alitalia, a day after an Italian government minister said the French flag carrier had made a joint bid with budget airline EasyJet (EZJ.L). Italian Industry Minister Carlo Calenda on Friday said separate offers had been
LOS ANGELES (Reuters) – Facebook Inc (FB.O) Chief Operating Officer Sheryl Sandberg and Twitter Inc (TWTR.N) Chief Executive Jack Dorsey will not seek re-election to Walt Disney Co’s (DIS.N) board because of growing conflicts of interest between the media giant and the technology companies, Disney said on Friday. Disney is moving heavily into online delivery
(Reuters) – Wall Street continued its rally on Friday as fourth-quarter earnings season kicked off with solid results from banks and robust retail sales drove gains for consumer stocks. All three major indexes were on track for record closing highs for the second day in a row. JPMorgan (JPM.N), the biggest U.S. lender by assets,
(Reuters) – JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, reported a higher-than-expected quarterly profit as gains in net interest income offset a slowdown in trading revenue. The bank recorded a $2.4 billion charge to cover a new one-time repatriation tax on income it has kept abroad and to adjust the value
TOKYO (Reuters) – Asian stocks resumed their ascent on Friday, supported by U.S. earnings optimism and a rise in oil prices while the euro edged higher as the European Central Bank signaled an end to its massive stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, following two straight sessions of decline.
WASHINGTON (Reuters) – Ford Motor Co said on Thursday it had confirmed a second death in an older pickup truck caused by a defective airbag inflator of Takata Corp and urged 2,900 owners in North America to stop driving immediately until they can get replacement parts. The second largest U.S. automaker said it confirmed in