By David Shepardson and Joseph White DETROIT (Reuters) – The chief executives of GM and Ford blasted United Auto Workers leaders on Friday, and UAW chief Shawn Fain responded in kind, hours after the union escalated the strike that is now in its third week. Fain on Friday expanded the first-ever simultaneous strike against the…
By Laura Sanicola (Reuters) -Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply. Front-month Brent November futures settled down 7 cents to $95.31 per barrel at the contract’s expiry, up about 2.2% in the week…
By Savyata Mishra (Reuters) -Nike shares climbed as much as 11% on Friday as the company further trimmed its inventory ahead of the all-important holiday shopping season and forecast improved second-quarter gross margin due to fewer discounts. The world’s largest sportswear maker has focused on reducing its inventory, bringing it down by 10% to $8.7…
(Reuters) -U.S. government services would be disrupted and hundreds of thousands of federal workers would be told not to work if Congress fails to provide funding for the fiscal year starting Oct. 1. Workers deemed essential would remain on the job. Almost all workers would not be paid. Here is a guide to what would…
By Laura Matthews NEW YORK (Reuters) – Delays of vital economic data releases could trigger financial market volatility if a U.S government shutdown goes ahead this weekend and drags on for weeks, leaving investors to use alternative data sources to determine the economy’s trajectory. Washington is days away from its fourth partial shutdown of the…
In a dramatic shift witnessed over the past 48 hours, gold’s value plummeted, hitting a near 7-month low. As market dynamics intensify, investors are keenly observing the relationship between gold, U.S. Treasury yields, and the Federal Reserve’s monetary policy. Key Highlights: Gold Prices: On New York’s Comex, December’s most-active futures contract settled at $1,878.60…
By Aditya Soni (Reuters) – Tesla may miss estimates for third-quarter deliveries due to planned factory shutdowns and soft demand that led the automaker to boost discounts, several Wall Street analysts warned in the run-up to the report that could come as early as Sunday. Brokerages including Barclays, Baird and Guggenheim blamed the potential weakness…
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried’s upcoming trial on fraud charges marks a major test for a broader crackdown on white collar crime led by Manhattan’s top federal prosecutor: Damian Williams. Upon taking office in late 2021 as the U.S. Attorney for the Southern District of New York, Williams said “rooting out…