Fiat Chrysler Automobiles (FCA) boss (FCHA.MI) Sergio Marchionne said on Sunday a tie-up with General Motors (GM.N) was a “high priority” for the company and a merger between the two carmakers was also the best strategic option for its U.S. rival. “That discussion remains a high priority for FCA,” he told journalists on the sidelines of the Formula One Italian Grand Prix.
Slowing growth in emerging markets and currency fluctuations in anticipation of a U.S. interest rate hike may push third-quarter revenue and earnings estimates lower this month. Estimates have already fallen for 9 out of 10 of the benchmark index’s sectors so far this year, according to Thomson Reuters data. This could happen fairly quickly,” said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
There is a shared belief among the members of the Group of 20 leading economies in the need to “double down” against competitive currency devaluation and avoid it in both policy and language, a senior U.S. Treasury official said on Saturday. Speaking to reporters on the sidelines of the G20 meeting of central bankers and finance ministers in the Turkish capital Ankara, the official said the final communique from the
Global equity markets tumbled and the dollar traded mixed on Friday after a U.S. jobs report for August kindled uncertainty over whether the Federal Reserve will raise interest rates in two weeks.
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World financial leaders will agree to calibrate and communicate monetary policy carefully to avoid triggering capital flight, but will not call an expected U.S. rate rise a risk to growth, a draft communique showed on Friday. Many emerging market economies are concerned that when the U.S. Federal Reserve raises borrowing costs, investors will withdraw from other markets and buy dollar assets, weakening other currencies and creating turbulence as capital flees.
U.S. stocks opened sharply lower as investors digested a key jobs report that could provide the Fed with enough support to raise rates.
U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August’s gain was the smallest in five months as the factory sector lost the most jobs since
Canada’s BlackBerry Ltd (BB.TO) said on Friday it will buy rival mobile software provider Good Technology Corp (GDTC.O) for $425 million, to boost its ability to help corporate clients manage smartphones running on different operating systems. The cash deal may help BlackBerry, a one-time smartphone pioneer, win new customers for its services business, a priority as it shifts focus to device management software for enterprise customers. More than half the
Works by Pablo Picasso, Jackson Pollock and Amedeo Modigliani are going up for auction from the late U.S. mall developer A. Alfred Taubman’s collection, which is valued at more than $500 million, Sotheby’s said on Friday. The auction house said the more than 500 works stretching from antiquity to contemporary art make up the most valuable private collection ever offered at auction. The collection will be auctioned in New York