BMW and Jaguar Land Rover on Wednesday said they will jointly develop electric motors, transmissions and power electronics, unveiling yet another industry alliance designed to lower the costs of developing electric cars.
U.S. stocks rose at the open on Wednesday after a report showed smallest monthly private jobs growth in May since 2010, raising bets that the central bank would lower interest rates to counter any economic slowdown.
White House trade adviser Peter Navarro said on Wednesday a U.S. plan to impose tariffs on Mexican goods may not have to take effect, offering a glimmer of hope for Mexico and American businesses concerned that the levies could badly hit both consumers and companies.
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Chuck Grassley, the Republican chairman of the U.S. Senate Finance Committee, predicted on Wednesday that the United States and Mexico would strike a deal to avert tariffs President Donald Trump has threatened to impose on Mexican imports.
Signs that the economy is losing momentum hung over a Federal Reserve summit for a second straight day as policymakers hinted they would be ready to cut interest rates if the U.S. trade war threatens a decade-long expansion.
A White House trade adviser and a leading Republican senator said on Wednesday that a U.S. plan to impose tariffs on Mexican goods might not go into effect, offering hope for Mexico and American businesses concerned about economic damage from a new front in President Donald Trump's trade wars.
U.S. President Donald Trump said on Wednesday he thinks Mexico wants to make a deal in the neighbors' immigration dispute, but that he will go ahead with tariffs on Mexican goods if it does not do more to control migration.
Democratic U.S. presidential hopeful Bernie Sanders said Walmart Inc should increase wages for its workers and stop fueling income inequality in the country.
U.S. services sector activity expanded at a brisk pace in May and industries hired more workers, offering some respite for an economy that is slowing following a temporary boost from exports and an accumulation of inventories in the first quarter.
U.S. stocks rose on Wednesday as expectations of an interest rate cut by the Federal Reserve were boosted by weak private sector jobs growth and on hopes that tariffs on Mexican goods could be avoided.
The U.S. Securities and Exchange Commission (SEC) on Wednesday voted to adopt a package of rules requiring brokerage firms to disclose potential conflicts in the fees investors pay and the commissions brokers earn when giving financial advice.
General Motors Chief Executive Mary Barra on Wednesday defended the automaker's plan to sell an assembly plant in Ohio, arguing the plan to sell the plant to an electric vehicle start-up was thoroughly vetted and had a chance of success.
Mexican President Andres Manuel Lopez Obrador has received an official list of U.S. products that could be subject to retaliatory tariffs if across-the-board duties threatened by the Trump administration take effect, officials said on Wednesday.
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