Bullish investors ‘too sanguine’ about U.S.-China trade talks, warns fund manager

After nearly a week of trade-talk booya, they’re finally getting down to business in Beijing. And POTUS’s market-pleasing deadline squashiness may hinge a lot on how the next couple of days go between China Vice Premier Liu He, U.S. Trade Rep. Lighthizer and Treasury Secretary Steven Mnuchin: No pressure guys, but investors seem to have a lot riding on the […]

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Teen who hacks car to drive backwards gets shoutout from Elon Musk

MOSCOW (AP) — A Russian teenager has refitted his car to drive it backward, and got a shoutout from Tesla’sTSLA, -1.61%  CEO Elon Musk. But this didn’t stop the police from stripping him of the car registration. The 18-year-old was stopped earlier this week driving the battered Lada backward. The teenager showed in a video posted on social media that […]

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Forty countries to require automatic breaking in cars next year — not U.S. or China

GENEVA (AP) — Forty countries led by Japan and the European Union — but not the U.S. or China — have agreed to require new cars and light commercial vehicles to be equipped with automated braking systems starting next year, a U.N. agency said. The United Nations Economic Commission for Europe, a key U.N. standards agency, said the draft agreement […]

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Rough ride: Nissan slashes outlook, unveils Ghosn-related charge

YOKOHAMA, Japan (Reuters) – Nissan Motor warned its annual profit will plumb six-year lows on waning global sales, underlining the challenges it faces as it also grapples with the fallout from the shocking arrest and ouster of its former chairman Carlos Ghosn. The Japanese automaker, in its first results since Ghosn was detained in November, unveiled an $84 million charge […]

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Renault: Carlos Ghosn still holds positions

Renault SA (RNO.FR) said Tuesday that Carlos Ghosn, who has resigned as chairman and chief executive, still holds other positions with the group and within its alliance with Japan’s Nissan Motor Co. (7201.TO). Mr. Ghosn resigned as chairman and CEO following his arrest last year in Japan, where he is accused of underreporting his pay and other financial misconduct at […]

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Dow transports surge as Norfolk and Avis stocks account for half the gains

The Dow Jones Transportation Average DJT, +1.04% surged 111 points, or 1.1%, in afternoon trade Monday, as rallies in shares of Avis Budget Group Inc., Norfolk Southern Corp. and airlines helped the index buck the weakness seen in the Dow Jones Industrial Average DJIA, -0.27% Avis’s stock ran up 8.6% after Goldman Sachs swung to being bullish from bearish on […]

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GM Cruise chief could earn $25 million in long-term incentives

DETROIT (Reuters) – The head of General Motors Co’s Cruise self-driving car unit stands to make more than $25 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday. Dan Ammann, who stepped down as GM’s president and was named chief executive of Cruise at […]

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