Meeting those forecasts could be enough to lift the sector – among the cheapest in the market – putting the sting of product recalls and tepid recent growth in the rear view mirror. “This is going to be one of the best months ever,” said David Kudla, chief investment strategist of Mainstay Capital Management in Grand Blanc, Michigan. Weak auto results contributed to flat overall retail sales in April, but
Greece’s government is confident of reaching a deal with its creditors this week and is open to pushing back parts of its anti-austerity program to make that happen, the country’s interior minister said Saturday. Greece and its EU/IMF creditors have been locked in talks for months on a cash-for-reforms deal and pressure is growing for a deal, since Athens risks default without aid from a bailout program that expires on
Airbus could announce “several hundred” airplane orders at the June 15-21 Paris Airshow, Fabrice Bregier, chief executive of the planemaking unit of Airbus Group, said on Saturday. Interviewed …
The European Central Bank’s monetary policy, aimed at raising inflation in the euro zone area, is working according to plan, ECB vice president Vitor Constancio said on Saturday, citing recent figures. …
Stifel is now negotiating key aspects with Barclays, although a deal is not certain and Barclays could go back to other bidders that have made offers, the people said this week. The sources requested anonymity because the matter is not public, and a spokeswoman for Stifel and a spokesman for Barclays declined to comment. Barclays has been reaching out to potential acquirers for the business for several weeks because it
General Motors Co (GM.N) is recalling about 375,000 heavy duty pickup trucks equipped with passenger-side air bag inflators made by Takata Corp (7312.T), the U.S. automaker said. Subaru will expand its recall of 2004 and 2005 model Impreza compact cars with Takata air bags to about 80,000 from 20,000, the unit of Japan-based Fuji Heavy Industries also said on Friday. Both companies said they have received no reports of inadvertent
Discount retailer Dollar Tree Inc agreed to sell 330 Family Dollar Stores Inc stores to private equity firm Sycamore Partners to get antitrust approval for its $8.5 billion takeover of Family Dollar. Dollar …
The price for Altera could be as much as $54 per share, a 15 percent premium over its Thursday closing price of $46.97. Altera shares were up 4.2 percent at $48.96 during Friday morning trading in New York. Intel and Altera did not respond to requests for comment.
The Office of the Comptroller of the Currency (OCC) asked the No. 2 U.S. bank by assets to pay a penalty of $30 million due to non-home loan compliance with the Servicemembers Civil Relief Act (SCRA) and unsafe non-home debt collection litigation practices. The OCC, which regulates and supervises all national banks, also ordered “remediation” to about 73,000 affected customer accounts. “The enforcement action is intended to correct deficiencies in
The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly. The government on Friday slashed its gross domestic product estimate to show GDP shrinking at a 0.7 percent annual rate instead of the 0.2 percent growth pace it estimated last month. There was also a modest downward