Friday September 25-th, 2020

Fiat Chrysler, PSA Peugeot boards approve merger Fiat Chrysler, PSA Peugeot boards approve merger

The plan authorized by PSA's board calls for negotiations of a binding memorandum of understanding that could last several weeks, said one of the people. Fiat Chrysler Automobiles (FCA) and the PSA Group have announced an agreement to merge in a...

40-day strike with UAW cost almost $4 billion — GM 40-day strike with UAW cost almost $4 billion — GM

Analysts had expected $1.31, on average, according to IBES data from Refinitiv. The firm had revenue of $33.93 billion during the quarter, compared to analyst estimates of $33.88 billion. The 40-day strike cost GM more than $2bn, according to analyst...

Woolworths underpaid staff by up to $300m Woolworths underpaid staff by up to $300m

The review highlighted an inconsistency in pay for a number of salaried store team members compared to team members paid under the new EA. Mr Banducci, who took charge of Woolworths in February 2016 after leading the food division for a year, said ...

United Kingdom set for December 12 general election | Election United Kingdom set for December 12 general election | Election

At our Annual General Meeting in April, our members unanimously adopted a policy deeming Jeremy Corbyn unfit to be Prime Minister as a result of his abject failure on antisemitism. British Prime Minister Boris Johnson's Conservative Party holds...

U.S. economic growth slowest this year U.S. economic growth slowest this year

The Commerce Department on Wednesday said the economic activity in the US grew at an annualized rate of 1.9% in the third quarter, down slightly from the 2% print in the second quarter. Auto sales fell 0.9% in September, the most in eight months, w...

Burger King To Launch Two Plant-Based Menu Items Across Europe Burger King To Launch Two Plant-Based Menu Items Across Europe

Cil highlighted Tim Hortons' ongoing loyalty program rollout, where promotional discounts remained an early challenge for financial results. The company's board declared a dividend of 50 cents per common share and partnership exchangeable unit of...

Tesla’s third-quarter US sales sank almost 40%, filing reveals Tesla’s third-quarter US sales sank almost 40%, filing reveals

The company also reported a total revenue of US$6.303 billion, which is less than in the previous quarter (US$6.35 billion) as well as the same corresponding period in 2018 (US$6.824 billion). It's a long shot, but initially, several models may als...

Molson Coors closing Denver office, cutting 500 jobs to move to Chicago Molson Coors closing Denver office, cutting 500 jobs to move to Chicago

Molson Coors Brewing Co . says it expects to cut about 400 to 500 jobs as part of a restructuring of its business that will see it close its Denver office and designate Chicago as its North American operational headquarters. He will remain as vice ch...

Fiat Chrysler, Peugeot parent in talks to form $50B auto behemoth Fiat Chrysler, Peugeot parent in talks to form $50B auto behemoth

A spokesperson for PSA said the group "would not comment on market rumours". Fiat Chrysler has always been looking for a partner to help shoulder investments in the capital-heavy industry. Current FCA chairman John Elkann would continue in the ...

Inflation inches up, taking some pressure off RBA Inflation inches up, taking some pressure off RBA

The trimmed mean rose by 0.4% in the September quarter (1.6% annual); the weighted median rose by 0.3% (1.2% annual) and the CPI less volatile items rose by 0.8% (1.9% annual). Adding even more chaos to the mix in the next 24 hours is the fact that t...

Why Fed might change its rate-cut strategy after October Why Fed might change its rate-cut strategy after October

The European Central Bank announced a new stimulus program last month, cutting its benchmark interest rate to a record low of minus 0.5 percent. Investors were widely expecting Wednesday's announcement of a quarter-point cut, to a range between 1.5...

Bank of Canada holds key interest rate at 1.75% Bank of Canada holds key interest rate at 1.75%

Canada's economy would shrink by about 4.5 per cent by 2021 if a global slowdown became more pronounced because of a higher than expected degree of uncertainty, the Bank of Canada said in a scenario released on Wednesday. It says it expects slower gr...

General Electric Rises 7% General Electric Rises 7%

Moreover, Sage has 0.01% invested in General Electric Company (NYSE:GE) for 3,972 shares. The company increased its 2019 forecast for industrial FCF to a range of flat to $2 billion, up from a range between negative and plus $1 billion. After tumbl...

Jim Pattison-owned company to buy Canfor in deal worth nearly $1B Jim Pattison-owned company to buy Canfor in deal worth nearly $1B

The board says the deal would be a boon to shareholders in these times of declines in the benchmark price for both lumber and pulp. The Transaction provides holders of Canfor Shares, other than Great Pacific and its affiliates (the "Shareholders"), w...

US Economy Slows To 1.9% In Third Quarter US Economy Slows To 1.9% In Third Quarter

The GDP figure is, however, down a little from the second quarter, which was down from the first quarter. U.S. economic growth slowed down in the third quarter, but beat some economists' expectations. The downshift in economic growth comes as trade...

Indonesian Nickel Mine Export Ban Takes Effect Immediately Indonesian Nickel Mine Export Ban Takes Effect Immediately

The move is also key for plans to turn the country into an electric-vehicle hub. Some Indonesian producers said that some actions taken by the government, such as strengthening supervision and affecting the launch of ships, have made this situation...

Two pilots accused of secretly livestreaming footage from airplane bathroom Two pilots accused of secretly livestreaming footage from airplane bathroom

A flight attendant who has accused pilots of watching video footage of the plane's bathroom says an airline official told her not to go public or "no one would ever fly our airline again". She was in the cockpit so the captain could use the lavat...

Potential listeria contamination leads to apples recall in 8 states - including IL Potential listeria contamination leads to apples recall in 8 states - including IL

A MI produce company has recalled almost 2,300 cases of fresh apples that could be contaminated with listeria . The apples were sent to Florida, Illinois, Kentucky, Louisiana, Michigan, North Carolina, Texas, and Wisconsin, the firm added.

GM, Toyota, Fiat Chrysler seek to intervene in California emissions suit GM, Toyota, Fiat Chrysler seek to intervene in California emissions suit

A lawsuit is now being pursued by the Environmental Defense Fund against the Trump administration , as the president seeks to roll back Obama-era congressional rulings that allowed California to set stringent standards for emissions and economy-fa...

TikTok owner says it has no immediate HK IPO plans TikTok owner says it has no immediate HK IPO plans

Two senior USA senators last week called for the government to study national security risks possibly posed by TikTok , saying it could leave USA users vulnerable to Beijing's spying. Facebook CEO Mark Zuckerberg , whose product competes with TikTo...

American Airlines' big New Zealand move - Auckland to Dallas, Christchurch to LA American Airlines' big New Zealand move - Auckland to Dallas, Christchurch to LA

Initially, the flights will be operated three times a week, however, starting on December 1, 2020, in the westbound and December 3, 2020, in the eastbound direction, they will become daily. "The commercial success of our AKL-LAX route due to American...

CB Consumer Confidence Index fell to 125.9 in October vs. 128 expected CB Consumer Confidence Index fell to 125.9 in October vs. 128 expected

The grinding trade conflict has undermined business confidence, crimped investment and caused consumers to worry more as well, which lead to a sharp drop in consumer sentiment in September. "1-year Consumer Inflation Rate Expectations 4.8% in October...

Fiat Chrysler in merger talks with Peugeot

There are reportedly high-level talks regarding a merger of Fiat Chrysler (FCA) and the PSA Group , which could create a new automaker valued at around US$50 billion ($73 billion). FCA is no stranger to merger talks. It's unclear how brand operati...

Amazon adds free grocery delivery to $119-a-year Prime membership program Amazon adds free grocery delivery to $119-a-year Prime membership program

Amazon plans to make grocery delivery a built-in benefit of Prime membership - no longer charging an extra $15 per month, or $180 per year, for Amazon Fresh delivery on top of the $119 annual Prime fee. Slight changes are also coming to Whole Foods d...

Aramco reportedly to trade on Saudi stock exchange from December Aramco reportedly to trade on Saudi stock exchange from December

Modi will be delivering the keynote address at the third session of the Future Investment Initiative (FII) Forum in Riyadh , nicknamed "Davos in the Desert". "There are several Russian pensions funds who are interested to invest in the Aramco IPO an...

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