Daimler issues profit warning over costly diesel issues

FRANKFURT, Germany (AP) — Automaker Daimler said Sunday that profits for the second quarter will be hit by troubles with diesel vehicles from its Mercedes-Benz brand and downgraded its earnings forecast for the full year. The company said in a news release that it would be hit by “a high three-digit million” euro increase in charges related to ongoing government […]

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North Korea says Kim Jong Un received ‘excellent’ letter from Trump

U.S. President Donald Trump sent North Korean leader Kim Jong Un an “excellent” letter, the North’s state-run news agency reported Sunday, quoting Kim as saying he would “seriously contemplate” the content. The White House press secretary, Sarah Sanders, said Trump sent a letter and “correspondence between the two leaders has been ongoing.” Formal talks between the U.S. and North Korea […]

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Philly Fed Index Indicates Nearly Stagnant Manufacturing Activity

Philadelphia-area manufacturing activity was nearly stagnant in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its index for current general activity tumbled to 0.3 in June from 16.6 in May. While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index […]

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Tesla shareholder meeting is a ‘fork in the road’ for the car maker

Tesla Inc.’s annual shareholder meeting next week presents a “fork in the road” for the Silicon Valley electric-car maker, beset by concerns about demand for its vehicles and the health of its balance sheet. Tesla’s meeting is scheduled for Tuesday at 2:30 p.m. Pacific. It will be webcast. After hitting multi-year lows in recent sessions, Tesla TSLA, -0.58% shares recouped some […]

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Factory activity shrinks across Asia, global recession fears mount

HONG KONG (REUTERS) – Factory activity contracted in most Asian countries last month as an escalating trade war between Washington and Beijing raised fears of a global economic downturn and heaped pressure on policymakers in the region and beyond to roll out more stimulus. Such growth indicators are likely to deteriorate further in coming months as higher trade tariffs take […]

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US manufacturing activity hits multi-year lows as trade tensions weigh

Manufacturing industry is facing a workforce crisis: Jay Timmons National Associations of Manufacturers CEO Jay Timmons discusses why the manufacturing industry is in the middle of a workforce crisis. Manufacturing activity in the U.S. fell to its lowest level in more than two years last month, as trade tensions and tariff threats weigh on businesses. Continue Reading Below The Institute […]

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Gold Futures Come Off 1-week High, Settle Marginally Down

Gold futures came off 1-week highs and ended marginally down on Friday, as equities moved higher on increased risk appetite after U.S. President Donald Trump expressed hopes of a U.S.-China trade deal. The dollar lost ground against most major currencies amid speculation the Federal Reserve might consider a rate cut after data from IHS Markit showed on Thursday that U.S. […]

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