(Reuters) – Ford Motor is preparing for a new round of layoffs for its salaried workers in the United States, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company in March last year announced plans to reduce structural costs of up to $3 billion at its gas-powered vehicle unit….
(Reuters) – Quality of new vehicles sold in the United States is declining as factors such as growing use of technology and lower build quality of certain parts are making the models more “problematic”, according to automotive consultant J.D. Power. Build quality of certain parts such as audio systems and cup-holders have resulted in quality…
By David Shepardson WASHINGTON (Reuters) – A U.S. appeals court panel Thursday vacated an April 2022 ruling that had declared unlawful a government order requiring masks on airplanes and other transportation modes during the COVID-19 pandemic. The Justice Department had asked 11th Circuit Court of Appeals to declare the issue moot after President Joe Biden…
By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf, U.S. markets correspondent. Asian markets will be waking up to a jolt of central bank rate hikes and looking ahead to a big round of macro data on Friday. The Bank of England surprised many investors on Thursday…
By Daina Beth Solomon MEXICO CITY (Reuters) – Fast-fashion giant Shein is seeking more warehouse space in Mexico as it expands e-commerce operations in the country, part of the company’s budding plans to gain a bigger foothold in Latin America, said three people familiar with the project. The Singapore-based retailer that was founded in China…
By Pete Schroeder WASHINGTON (Reuters) – The heads of the Federal Deposit Insurance Corp and the Federal Reserve on Thursday said bank regulators were considering expanding the reach of a stricter set of capital rules to include banks with over $100 billion in assets. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said in a speech…
By Daina Beth Solomon MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Thursday said he will ask incoming Labor Minister Marath Bolanos to meet with mining company Grupo Mexico and a top union leader to attempt to resolve labor disputes stretching back more than a decade. Grupo Mexico, a conglomerate controlled by…
(This June 16 story has been corrected to fix the date of contract expiration in paragraph 1) By Lisa Baertlein LOS ANGELES (Reuters) – United Parcel Service (UPS) union employees have voted overwhelmingly to authorize a strike should contract talks break down after the current agreement ends at midnight on July 31, the International Brotherhood…
By Lucy Craymer WELLINGTON (Reuters) – As New Zealand Prime Minister Chris Hipkins prepares to lead a trade delegation to China seeking greater access for both the country’s primary exports and emerging sectors such as gaming, producers are diversifying away from their biggest market. Beijing’s attempts to punish neighbouring Australia through trade for perceived intransigence…
By Dan Burns (Reuters) – The number of people filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve’s aggressive credit tightening….
