Chart created with TradingView Oil Talking Points The price of oil pulls back from a fresh monthly high ($43.78) even though US Crude Inventories contract for six consecutive weeks, and energy prices may continue to consolidate over the coming days as the Organization of the Petroleum Exporting Countries (OPEC)Read More →
(Reuters) – The Philippine unit of Honda Motor Co Ltd (T:) said on Saturday its production facility will shut down next month, as the Japanese automaker struggles to shore up global automobile operations. Japan’s third-largest automaker has seen its profitability decline by more than half in the past two years,Read More →
© Reuters. Foxconn Resumes Some Production at Its Main China IPhone Site (Bloomberg) — Foxconn Technology Group resumed some production Monday at its main iPhone-making site in Zhengzhou, according to local officials, though it was unclear how many workers returned, highlighting the ongoing uncertainties the global tech supply chain facesRead More →
SHANGHAI (Reuters) – U.S. electric carmaker Tesla’s (O:) factory in China’s financial hub of Shanghai will resume production on Feb. 10, a Shanghai government official said on Saturday, adding that authorities would provide assistance to the firm. Xu Wei, spokesman of the Shanghai municipal government, made the comment at aRead More →
By Josh Horwitz and Brenda Goh SHANGHAI (Reuters) – A number of Chinese manufacturers including a subsidiary of Apple Inc (O:) partner Foxconn (TW:) have refitted production lines to make masks and medical clothing, as a deadly coronavirus spreads across China. The move highlights how private companies are pitching inRead More →
By Costas Pitas LONDON (Reuters) – British car output dropped last year at the fastest rate since the 2008-9 recession, hit by slumping exports and diesel demand, as an industry body called for an ambitious post-Brexit trade deal to protect the sector. Investment, however, nearly doubled to 1.1 billion poundsRead More →
MONTREAL (Reuters) – Airbus (PA:) sees enough demand for its wide-bodied A330neo passenger jet to keep production stable, Chief Commercial Officer Christian Scherer told Reuters on Wednesday. With some airlines seen unlikely to take delivery of all the jets they have ordered, there has been speculation Airbus would have toRead More →
© Reuters. FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California By Jamie Freed and Tracy Rucinski SYDNEY/CHICAGO (Reuters) – Boeing (NYSE:) Co has decided to suspend production of its best-selling 737 MAX model from January, theRead More →
By Jamie Freed (Reuters) – Boeing Co (N:) is expected to continue burning cash despite pausing production of its 737 MAX jet, as it will leave its workforce intact and likely provide support to suppliers, analysts said. Some estimated the cash burn at around $1 billion a month. The airlineRead More →
© Reuters. Investing.com – Boeing (NYSE:) will halt production of its currently grounded 737 Max jetliner for January, the Wall Street Journal reported Monday, citing a person briefed on the matter. The aerospace giant had continued to assemble about 40 of the jets per month while waiting for regulatory approvalRead More →
© Reuters. Federal Aviation Administration (FAA) Administrator Stephen Dickson testifies before a House Transportation and Infrastructure Committee hearing at the Rayburn House office building in Washington By David Shepardson and Eric M. Johnson WASHINGTON/SEATTLE (Reuters) – The U.S. Federal Aviation Administration said on Wednesday it was investigating production issues atRead More →
Tullow Oil PLC said Monday that it has cut its production forecast for the near term after 2019 output fell significantly below expectations and Chief Executive Paul McDade has resigned with immediate effect. The energy company TLW, -58.67% said that despite a solid financial performance, it expects net production inRead More →
BERLIN (Reuters) – Volkswagen’s (DE:) German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.2 billion) in savings by 2023. German carmakers, including Volkswagen’s Audi (DE:) brand, have announced thousands of job cuts in recent weeks toRead More →
The Organization of the Petroleum Exporting Countries and their allies are expected to announce an agreement to reduce crude oil output further this week, even as the group, collectively known as OPEC+, struggles to see full compliance from all of its members. A committee of oil producers led by SaudiRead More →
Demand for Apple’s new AirPods is surging ahead of Black Friday sales and the wireless earbuds could see shortages heading into the holiday season, according to Wedbush Securities analyst Daniel Ives. The technology company AAPL, +1.34% has reportedly ramped up production due to the success of its latest product. TheRead More →
YOKOHAMA, Japan (Reuters) – Nissan Motor Co. (T:) is introducing a new, higher-tech production system globally to try to boost efficiency as it looks to reverse a slide in profitability. The updated equipment and other technologies, which include increased automation for applying sealant and installing powertrains, will be rolled outRead More →
Coffee prices have jumped more than 25% in recent weeks, lifted by signs of shrinking production in Latin America. Coffee futures have climbed to $1.173 a pound on the Intercontinental Exchange, surging from a recent low around 93 cents a pound in mid-October amid concerns of a supply glut. PricesRead More →
(Reuters) – United Technologies (N:) expects its customer Boeing (N:) to keep producing 42 737 MAX planes per month in 2019, allaying fears of a manufacturing pause that could cost billions of dollars in losses for the planemaker and its suppliers, Chief Financial Officer Akhil Johri told Reuters on Tuesday.Read More →
FRANKFURT (Reuters) – Auto supplier Robert Bosch has revised its forecast for automotive production on Saturday, expecting a 5% fall this year, bigger than an earlier estimate for a 3% decline, the company’s chief financial officer told Boersen-Zeitung. As a result Bosch would not be able to achieve an earningsRead More →
© Reuters. Trump declines to set U.S. uranium production quotas WASHINGTON (Reuters) – U.S. President Donald Trump late Friday declined to issue quotas for domestic uranium production but instead ordered a new 90-day review by a group of federal agencies. Trump said in a written memorandum he did not concurRead More →
By Edward Taylor FRANKFURT (Reuters) – BMW (DE:) board member Oliver Zipse, a 55 year-old company veteran, is the front runner to become the carmaker’s new chief executive, sources said on Friday after Harald Krueger announced he would not stay on beyond April 2020. Krueger said he would not seekRead More →
© Reuters. The logo of Samsung Electronics is pictured at the company’s factory in Tijuana SEOUL (Reuters) – Samsung Electronics (KS:) Co Ltd said on Wednesday it has decided to cut the volume of mobile phone production at its plant in the Chinese city of Huizhou due to the impactRead More →
Oil settled on a mixed note Monday, with U.S. crude gaining for the session but global benchmark prices giving up an earlier rise to finish lower. Traders weighed signs that the Organization of the Petroleum Exporting Countries will decide to extend its production-cut agreement following a committee meeting over theRead More →
JEDDAH, Saudi Arabia—The Organization of the Petroleum Exporting Countries and its allies are set to debate at least two scenarios that would increase oil production beyond current levels, according to people familiar with the discussions. If the group ultimately chooses to increase production, there’s a hitch: The cartel’s internal simulationsRead More →
Looking for work now that the jobless rate is at a 49-year-low? Chances are you’re not considering relocating, and nor are the vast majority of American workers. Only around 10% of people seeking out a new job in the U.S. chose to relocate for work during 2018, according to aRead More →
