Business

Cheaper gas sends US consumer prices down 0.1 pct

Cheaper gas sends US consumer prices down 0.1 pct

By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON — Consumer prices slipped 0.1 percent last month, pulled down by sharply lower gas prices and cheaper air fares, used cars, and mobile phone plans. The consumer price index rose just 1.9 percent in December from a year earlier, the Labor Department said Friday, the first time it has fallen below 2 percent […]

GM raises 2018 forecast, predicts stronger 2019 earnings

GM raises 2018 forecast, predicts stronger 2019 earnings

By TOM KRISHER, AP Auto Writer DETROIT — General Motors strengthened its pretax profit estimate for 2018 and predicted even stronger performance for this year as it executives made a presentation to investors on Friday. Shares jumped nearly 9 percent in midday trading. CEO Mary Barra also says the company doesn‘t foresee any further job cuts through 2020. Last year […]

US stocks drift in a quiet close to another winning week

US stocks drift in a quiet close to another winning week

By STAN CHOE and ALEX VEIGA, AP Business Writers NEW YORK — U.S. stock indexes nestled a hair lower on Friday after the falling price of oil weighed on energy companies, but the S&P 500 nevertheless closed out its third straight winning week following a brutal stretch in December. It was a day full of broken streaks — oil fell […]

French flop adds to eurozone economic woes and ECB headaches

French flop adds to eurozone economic woes and ECB headaches

Industrial production in France fell by 1.3pc in November from the prior month, putting it on track to record just 0.5pc growth for the year in the latest gloomy economic release for the eurozone. Last week, data showed German industrial production fell for the third successive month and Italy may already be in recession. That means three of Europe‘s biggest […]

European tumble halts talks rally

European tumble halts talks rally

European shares fell yesterday as optimism over US-China trade talks faded and a slew of weak earnings reports hit car and retailer stocks. The falls snapped a two-day rally that had taken European stocks to three-week highs. China‘s commerce ministry said trade talks made progress on “structural issues” such as forced technology transfers and intellectual property rights, but investors were […]

Jaguar Land Rover and Ford to cut thousands of jobs across Europe

Jaguar Land Rover and Ford to cut thousands of jobs across Europe

Two of the world‘s biggest carmakers have each announced plans to slash thousands of European jobs. Ford and Jaguar Land Rover are embarking on radical overhauls of their businesses. Ford will consider plant closures and discontinue loss-making vehicle lines as part of a turnaround effort aimed at achieving a 6pc operating margin in Europe. Its European arm has been losing […]

Mike Ashley outs Debenhams chairman, forces CEO to step down

Mike Ashley outs Debenhams chairman, forces CEO to step down

Mike Ashley has forced the chairman of Debenhams to resign and the retailer‘s chief executive to step down from the board as the Sports Direct tycoon flexed his muscles at the firm‘s annual meeting. The news came after the struggling department store yesterday unveiled declining sales over Christmas, but said it was still on track to deliver on profit expectations. […]